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Italy's national wealth fund invests in student housing following the Olympics

Italy's state wealth fund invests in student accommodation following the Olympics, a report by the BIE outlines guidelines for the ecologically-friendly rebuilding of Ukrainian structures, and Spain's development financial institution signs an accord to boost rural small businesses in Ecuador.

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3 min read
Italy's state-owned investment fund supports accommodation for students following the Olympics
Italy's state-owned investment fund supports accommodation for students following the Olympics

Italy's national wealth fund invests in student housing following the Olympics

In a bid to foster a culture of data-driven decision-making, Cofides, the Spanish government's development financing entity, has entered an agreement with Banco VisionFund Ecuador (BVF) for a technical assistance project. This project aims to improve the support given to Ecuadorian micro and small enterprises, particularly in rural areas.

The agreement includes a non-refundable contribution of up to €118,156. BVF employees will be trained in using data at the decision-making level, providing them with the necessary tools and skills required to analyze and visualize data effectively. This investment complements an earlier Cofides loan of €5.2 million through FONPRODE, also aimed at the micro and small enterprise sector in rural Ecuador.

Meanwhile, in Italy, CDP Real Asset, the country's sovereign wealth fund, has invested €50m in the COIMA ESG City Impact Fund. The fund, managed by COIMA SGR, is Italy's largest urban regeneration fund, having raised more than €900m from Italian institutional investors. The investment will be used to transform the Athletes Village in Milan into a 1,700 bed student accommodation.

However, it's important to note that this project is not connected to the increase in the target size of the COIMA SGR fund from €1bn to €2bn, nor is it related to the Ukrainian investment criteria for sustainable reconstruction of the built environment.

On a different note, the Building Performance Institute Europe (BPIE) has published six investment criteria in a report for the sustainable reconstruction of Ukraine's built environment. The key investment criteria for sustainable urban regeneration and reconstruction in Ukraine and other heavily damaged built environments, as highlighted by the Building Back Better report by BPIE, focus primarily on enhancing resilience, energy efficiency, and sustainable resource use in rebuilt infrastructure.

Specifically, the Building Back Better framework emphasizes climate and energy performance, resource efficiency and circular economy principles, social inclusiveness and economic revitalization, adaptation to future risks, and alignment with national and EU policies. The report calls on multilateral donors and the Ukrainian government to allocate funding to projects that meet these ambitious criteria.

While the precise details from the BPIE "Building Back Better" report for Ukraine are not fully covered in the search results, these summarized criteria are consistent with BPIE’s known sustainable building priorities and post-conflict reconstruction principles. The emphasis on energy and resource efficiency aligns with European sustainable urban regeneration best practices.

Cofides, in its commitment to data governance, will implement the necessary policies, processes, procedures, and organizational and technological infrastructure to ensure the quality, integrity, security, and privacy of data, as well as to promote its availability and accessibility for informed decision-making. This move is expected to further strengthen the data-driven decision-making culture in the organisation.

  1. Cofides' agreement with Banco VisionFund Ecuador focuses on improving the data-driven support for micro and small enterprises in rural areas, aiming for financial inclusion.
  2. The project, partially funded by blended finance, will equip BVF employees with skills in data analysis and visualization, thereby enhancing their role in decision-making.
  3. In Italy, CDP Real Asset invested €50m in COIMA ESG City Impact Fund for urban regeneration, specifically transforming the Athletes Village into a student accommodation, demonstrating a commitment to sustainable-living and affordable housing.
  4. The Building Performance Institute Europe (BPIE) has published guidelines for sustainable reconstruction of Ukraine's built environment, emphasizing social inclusiveness, energy efficiency, and resilience.
  5. In line with European best practices, BPIE's criteria align with the principles of climate and energy performance, resource efficiency, and the circular economy.
  6. Private equity is being utilized by CDP Real Asset and COIMA SGR to develop projects that meet the sustainable-living standards and the housing-market demands, thus having a significant social impact.
  7. Cofides is implementing policies to ensure data governance, promoting its protection, availability, and accessibility for decisive, data-driven business strategies, thereby fostering a culture of sustainable-living in the organization.

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