Italy: EIB provides €50 million to AIMAG to improve water services across the areas served by the group

• The financing will support more than 200 upgrades to water, sewerage and wastewater treatment infrastructure.
• The operation will strengthen resilience, reduce water losses, digitalise services and improve the capacity to manage extreme climate events.
• The project contributes to EU environmental objectives and to the quality of services for citizens and businesses.
• The financing is backed by InvestEU, the European Union’s investment programme through which the EIB Group has already mobilised more than €6 billion in investment in Italy.

The European Investment Bank (EIB) and AIMAG S.p.A. have signed a new €50 million financing agreement to support the multiutility’s multiannual investment programme in integrated water services in the province of Modena, benefiting around 200 000 people. The agreement, backed by InvestEU, the European Union’s investment programme through which the EIB Group has already invested more than €6 billion in Italy, was announced today by Gilles Badot, Director of Public Sector Operations at the EIB, and Gianluca Valentini, General Manager of AIMAG.

The main works include upgrading and expanding water supply and sewerage networks, as well as strengthening wastewater treatment plants. The programme also includes targeted measures to increase infrastructure resilience to extreme climate events, reduce water losses, improve wastewater treatment and digitalise operational management through advanced monitoring systems.

“Investing in water infrastructure means strengthening local areas’ ability to provide essential services and address the challenges posed by climate change,” said Gilles Badot, Director of Public Sector Operations at the EIB. “This financing supports a programme of works that will improve the quality and reliability of services, strengthen network resilience and promote more modern and efficient resource management. This agreement confirms the EIB’s commitment to supporting investments by Italian utilities to promote the sustainable development of local areas.”

Thanks to the resources made available by the EIB, AIMAG will be able to carry out a broad set of works over the coming years, including renewing and laying new water and sewerage pipelines, upgrading and expanding wastewater treatment plants, and introducing remote control technologies to improve predictive maintenance, service continuity and reduce interruptions. The projects are fully aligned with European and national environmental objectives and with the local climate adaptation strategies.

“The signing of this important financing agreement with the EIB marks the completion of a process that began around two years ago to reshape our financial debt, aimed both at securing new resources that are essential to support the ambitious investment plan set out in our 2025-2028 business plan, and at optimising the cost and duration of the financing underpinning it. The EIB is the ideal partner to help us pursue our operational and economic objectives with renewed momentum, further strengthening a partnership of great value for AIMAG and the area we represent,” said Marco Malavolta, CFO of AIMAG.

The multiutility, which operates in an area with a high concentration of productive activity and significant exposure to climate impacts, will also be able to increase its capacity to respond to water and weather-related emergencies, ensuring safety, water quality and service continuity. The investment addresses priorities identified by local authorities and supports infrastructure planning in a sector that requires constant, long-term investment.

The EIB’s support for Italian utilities

The operation confirms the EIB’s role as Europe’s leading public financier of the water sector, working alongside Italian utilities to improve and modernise essential infrastructure. The financing for AIMAG is part of the Bank’s broader strategy in Italy. In 2025 alone, the EIB supported Italian utilities with €837 million, contributing to investments by some of the country’s leading companies. These include MM S.p.A. (€100 million), SMAT (€100 million), CAP Group (€100 million), BrianzAcque (€45 million), Acqua Novara.VCO (€150 million), Azienda Comprensoriale Acquedottistica S.p.A. (€30 million) and ACEA (€90 million), as well as the subscription of the sixth Viveracqua Hydrobond issue (€200 million). These agreements help improve access to drinking water for millions of people, reduce hydrogeological risk and promote more sustainable resource management.

Background information

The EIB Group

The European Investment Bank (EIB) Group is the long-term financing institution of the European Union and is owned by its Member States. In 2025, the European Investment Bank (EIB) and the European Investment Fund (EIF) signed €100 billion in new financing to support more than 870 high-impact projects, structured around eight core strategic priorities that contribute to EU policy goals: climate action and environmental sustainability, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, stronger global partnerships, and the savings and investments union. In Italy, the EIB Group signed 105 new financing agreements worth a total of €13.2 billion in 2025.

InvestEU

The InvestEU programme provides the European Union with long-term financing by leveraging substantial public and private funds to support a sustainable recovery. It also helps mobilise private investment for the European Union’s strategic priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the many EU financial instruments previously available to support investment in the European Union, making financing for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners, which invest in projects using the EU budget guarantee of €26.2 billion. The full budget guarantee will be used to support investment projects by implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.

AIMAG Group

AIMAG Group is a multi-service company based in Mirandola. It operates in 27 municipalities and, directly and through its subsidiaries, manages water, environmental, energy, technology and public lighting services for more than 290 000 people.