The Project focuses on core military needs and entails acquisition of logistic vehicles, naval minehunters, and medical evacuation (MEDEVAC) aircraft and related medical equipment enhancing military mobility capabilities of the Italian Armed Forces. It aims at replacing aging mobile assets with new-generation vehicles incorporating modern technologies, improved performance, enhanced safety standards, and higher operational availability.

The operation is structured as a multi scheme investment loan supporting mobile asset investments promoted by the Italian Ministry of Defence to enhance the country's military capabilities. Most of the mobile assets will be used in military transport and logistics, therefore the Project is expected to enhance military mobility capabilities of the Italian Army. The Project will not include any weapons or ammunition.

The Project contributes fully (100%) to the Bank's Security and Defence (S&D) transversal Public Policy Goal by strengthening Italy's and the European Union's defence capabilities through replacing aging platforms with new-generation vehicles incorporating modern technologies, improved performance, enhanced safety standards, and higher operational availability. It is aligned with Italy's Multi Year Defence Policy Document (DPP 2025-2027), the EU Strategic Compass, the EU White Paper on Defence, and the Bank's Security and Defence Action Plan, addressing an overriding public interest and a clear market failure, as security and defence are non-commercial public goods. In a deteriorating security environment, the Project enhances the operational capacity, readiness, and resilience of the Italian Armed Forces, with certain assets also supporting civil protection missions. The Bank's long-term financing, aligned with the assets' long economic life and phased delivery, improves affordability under constrained public finances, while the Bank's technical contribution ensures alignment of the investments with Bank's policies and standards.

Due to its technical characteristics, the Project does not fall under the Environmental Impact Assessment Directive 2011/92/EU as amended by Directive 2014/52/EU and will not require the application of Art.6(3) of Habitats Directive 92/43/EEC.

The Bank will require the Promoter to ensure that contracts for implementation of the Project have been and/or will be tendered in accordance with the applicable EU procurement legislation, Directive 2009/81/EC and 2014/24/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.