Italian Government Fund Supports Student Accommodation After Olympics
In the realm of sustainable investment and urban regeneration, several significant developments have taken place recently.
COIMA SGR, an Italian investment management firm, has increased the target size of its fund from €1 billion to €2 billion and is actively fundraising. The COIMA ESG City Impact Fund, Italy's largest urban regeneration fund, has already raised over €900 million. One of the latest projects this fund will support is the transformation of the Athletes Village in Milan's Olympic Park into a 1,700-bed student accommodation, addressing a major shortage of student accommodation in the city.
CDP Real Asset, the real estate and infrastructure fund management arm of Italy's sovereign wealth fund, has invested €50 million in the COIMA ESG City Impact Fund. This investment will contribute to the housing initiative, which has recently welcomed its first tenants as it nears completion.
Meanwhile, in Ukraine, the total cost of damage in the housing sector alone since Russia's invasion is estimated to be $55.9 billion, with an estimated $80.3 billion needed for reconstruction. To guide sustainable investment in Ukraine's rebuilding efforts, the Buildings Performance Institute Europe (BPIE) has published a report titled "Building back better: 6 investment criteria to drive a sustainable reconstruction of Ukraine's built environment."
The six investment criteria emphasize sustainability, energy efficiency, resilience, social inclusion, economic viability, and integration with EU standards. These criteria are designed to prioritize environmental performance, reduce energy demand, enhance structure robustness, ensure equitable benefits, guarantee economic return, and align with European policies and technical standards.
Cofides, the Spanish government's development financing entity, has entered an agreement with Banco VisionFund Ecuador for the implementation of a technical assistance project to improve the support given to Ecuadorian micro and small enterprises, particularly in rural areas. As part of this project, BVF employees will be trained in using data at the decision-making level to foster a culture of data-driven decision-making at the bank.
Elsewhere, CorPower Ocean has received a €40 million EU grant for a wave energy farm. This project is part of the Triple Inclusive Finance (TIF) Programme, a blended finance project led by Cofides in Latin America.
These developments underscore the growing emphasis on sustainable investments and urban regeneration projects that prioritize environmental performance, energy efficiency, resilience, social inclusion, economic viability, and alignment with EU standards. As the world continues to grapple with the challenges of climate change and urban development, such investments and projects will play a crucial role in shaping a more sustainable and resilient future.
[Sources: 1] BPIE (2025). Building back better: 6 investment criteria to drive a sustainable reconstruction of Ukraine's built environment. Retrieved from [link to the report]
- In the realms of urban regeneration and sustainable investment, COIMA SGR's increased target size for the ESG City Impact Fund, now €2 billion, underscores a dedicated focus on energy transition and social impact.
- Financial inclusion efforts in Ecuador are strengthened through a technical assistance project implemented by Cofides and Banco VisionFund Ecuador, aiming to improve support for micro and small enterprises, thereby promoting economic development with a focus on rural areas.
- The Triple Inclusive Finance (TIF) Programme, a blended finance project led by Cofides, includes the development of a wave energy farm, contributing to the initiative's goals of energy efficiency, social impact, and alignment with European standards.
