The loan will be granted to the Consorzio Venezia Nuova, which has been charged with implementing the project by the Ministry of Infrastructure & Transport via the Venice Water Authority.
The overall project consists of the construction at the three inlets to the Venice lagoon (Lido, Malamocco and Chioggia) of a system of breakwaters and mobile barriers to protect the city from storm surges. It forms part of ageneral plan to safeguard Venice and the lagoon launched by the Infrastructure Ministry in 1987.
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