Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 74,250,000
Countries
Sector(s)
Italy : € 74,250,000
Water, sewerage : € 74,250,000
Signature date(s)
16/02/2022 : € 74,250,000
Link to source

Summary sheet

Release date
18 November 2021
Status
Reference
Signed | 16/02/2022
20210499
Project name
Promoter - financial intermediary
VIVERACQUA HYDROBOND 4
VIVERACQUA SCARL
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 74 million
EUR 350 million
Location
Sector(s)
  • Water, sewerage - Water supply; sewerage, waste management and remediation activities
Description
Objectives

Project to support small to medium water utilities through innovative structured financing in the Italian region of Veneto.

The project regards the 2021-2024 water and wastewater investment programme of six operators in the Veneto Region in Italy. The investment programmes of the operators are based on Master Plans agreed by the operators with the local regulator. The investment requirements, including mainly water treatment, distribution, wastewater collection and treatment, are aimed at the upkeep of efficient and sustainable water and wastewater services and compliance with the Urban Waste Water Treatment Directive 91/271/EEC and the Water Framework Directive 2000/60/EC, as embodied in the National legislation and the Regional Water Resources Protections Plans.

Additionality and Impact

The project supports investments in wastewater infrastructure by various utilities providing Integrated Water Services in the Veneto Region, Italy. It ensures compliance with key European regulations in the water sector, and improves the coverage and quality of water and wastewater services. The project contributes to the Bank's policy objectives of Sustainable Energy and Natural Resources as well as Climate Action and Environmental Sustainability. It addresses a number of market failures through positive externalities in the form of environmental and public health benefits, notably improved quality of recipient waters and reduced greenhouse gas emissions from wastewater infrastructure. These benefits are not reflected in market prices and would not be realised to the same extent without public intervention. Furthermore, the project addresses a chronic investment gap in water services in Italy and provides long-term finance at attractive terms compared to commercial banking funding, through an innovative product (securitisation of a mini-bonds), fostering the creation of a an alternative way to access traditional EIB financing. EIB's participation as an anchor investor facilitates the crowding-in of other investors and positively impacts the utilities' stability and diversification of their source of financing. 

 

Environmental aspects
Procurement

The investments are expected to have positive net environmental and social impacts, considering their focus on compliance with amongst others the Urban Waste Water Treatment Directive 91/271/EC, the Water Framework Directive 2000/60/EC, and their contributions to resource efficiency from efficiency improvements. Where and if applicable, the requirements of the Environmental Impact Assessment Directive 2014/52/EU amending the Directive 2011/92/EU, Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC will be verified during appraisal.

The Bank will require the utility companies to ensure that contracts for implementation of the project have been or will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/23/EU and/or 2014/24/EU and/or 2014/25/EU, where applicable, as well as Directive 92/13/EEC and Directive 89/665/EEC, as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Impact Assessment (ESIA) - VIVERACQUA HYDROBOND 4 - Links to EIA reports
Publication Date
15 Dec 2021
Document language
Main Topic
Lending
Document Number
152039647
Document Focus
Environmental Information
Project Number
20210499
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Data Sheet (ESDS) - VIVERACQUA HYDROBOND 4
Publication Date
1 Feb 2022
Document language
Main Topic
Lending
Document Number
151923249
Document Focus
Environmental Information
Project Number
20210499
Sector(s)
Regions
Countries
Publicly available
Download now

News & Stories

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

Related publications