The institute for Sports and Cultural Credit Spa., Public bank for the sustainable development of the country through sport and culture, has granted a subsidized 4 million euro loan for the construction of the coverage of the Baroque court of the former Palazzo Collegio dei Nobili, home of the Egyptian Museumto give birth to a multipurpose square with free access.
In order to support the intervention of the Egyptian museum, it was An agreement between the Institute for Sports and Cultural Credit Spa and the Compagnia di San Paolo Foundation signedaimed at creating an operational synergy that determined the establishment of a “Dedicated section” of the Culture Fund Fund – managed directly by ICSC – powered by contributions from the Compagnia di San Paolo Foundation and intended for the issue of additional and complementary guarantees compared to those usually issued by the Fund. It is the first time that an innovative operation is carried out that structurally brings together public contributions, the financing of ICSC and contributions of the Compagnia di San Paolo Foundation through the surety issued by Banca Etica.
The coverage projectfrom the total cost of over 19 million, the direct contribution of the members of the Foundation (Ministry of Culture, Piedmont Region, San Paolo Compagnia Foundation and CRT Foundation), the contribution of Intesa Sanpaolo through Artbonus and other private support companies and thanks to the financial support of the Institute for Sports and Cultural Credit Spa which granted a financing submitted by 4 million euros, will be carried out through the use of the financial reserves of the museum.
“I can only express my deepest gratitude to the subjects who made this financial model possible” he declares Samanta Isaia, management director and single manager of the works. “The Egyptian Museum is projected towards the future; Sports credit, Banca Etica and the founding partner Compagnia di San Paolo have strongly believed in this project that pushes the Egyptian to new boundaries of cultural use where the square will be a social place, a suggestive place and a city place”.
“This initiative constitutes a concrete example of how the adoption of innovative partnership models represents an effective strategy to support high -impact projects in the cultural sector -it ends Antonella Baldino, CEO of the Institute for Sports and Cultural Credit Spa-. The virtuous combination of public funds, philanthropics and private funding will allow an important enhancement intervention of the Egyptian Museum aimed at making a space of great historical-artistic value accessible and accessible. A project that strengthens the link between culture, sustainability and community, helping to create new opportunities for the cultural and social development of our country “.