The Council of Europe Development Bank (CEB) and Italy’s Ministry of Economy and Finance have signed a € 300 million loan agreement to finance the emergency and health expenditure associated with the COVID-19 pandemic.

Italy was the first EU country to declare the state of emergency on 31 January 2020. Thanks to the exceptional measures put in place, the number of cases has fallen significantly from the peak recorded in previous months. Yet, considerable efforts continue to be made to successfully manage the pandemic.