Italy provided concessional loans worth 550 million euros in 2024 for the financing of sports infrastructure projects, Italian Ambassador to Azerbaijan Luca Di Gianfrancesco said during the special session titled “Cities as Playing Fields” held within the framework of WUF13, APA-Economics reports.
According to him, the Tuscany Declaration adopted during Italy’s G7 presidency emphasizes that sports contribute to achieving the Sustainable Development Goals and highlights the importance of attracting long-term investment to this field.
Luca Di Gianfrancesco noted that establishing stable financing mechanisms for sports infrastructure is of particular importance, as this sector does not generate high returns in the short term.
The ambassador stated that more than 60% of the funds allocated by Italy’s Institute for Sports and Cultural Credit (ICSC) were directed to local governance bodies.
According to him, the remaining financing was provided to companies and non-profit organizations.
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