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The project concerns the design and rollout of a Fibre-to-the-Home (FTTH) broadband network across Italy. Its objective is to extend coverage by passing an additional 5.8 million homes by project completion. The network will operate exclusively on a wholesale open-access basis, providing retail operators with speeds of up to 10 Gbps in areas that currently lack access to very high-capacity (VHC) broadband services. To support this, the project includes also the construction of a new backbone network interconnecting the FTTH broadband infrastructure nationwide with the country's primary data centres and internet exchange points.
The Project concerns the roll-out and upgrade of the optical fibre access network in Italy. The project aligns with the "EU Digital Compass 2030," which states that by 2030 all EU households must have Gigabit connectivity. It also addresses the market failure of under-investment in Very High-Capacity Network (VHCN) infrastructure in areas previously considered unprofitable. Furthermore, the project supports Innovation, Digital, and Human Capital - Digital Infrastructure, the strategic priority Digitalisation and Technological Innovation (TechEU), and addresses failures in the financial market caused by the fact that the economic lifetime of digital infrastructure exceeds the tenor of loans, which are typically not available on domestic capital markets or from commercial banks.
The project is in line with InvestEU objective of developing the digital connectivity infrastructure through the deployment of very high capacity (VHC) networks.
It addresses the underinvestment in such type of infrastructure in underserved urban and semi-urban areas. Financial constraints and low profitability expectations have led to limited fibre deployment outside of dense urban and publicly financed (mostly rural) areas. The Project is expected to provide positive externalities by enabling more users to benefit from the access to information, digital services and better communication, which are not captured by the project returns. The project is fully in line with the EU 2030 Digital Compass targets, of Gigabit connectivity by 2030.
The Bank's contribution to the Project stems from its support to the diversification of Borrower's financing sources combined with the flexible drawdown terms, attractive tenor and availability period and financial benefits, thereby facilitating the Project's financing and its full implementation.
The Project would not have been carried out to the same extent by the EIB without the InvestEU support.
Where and if applicable and based on a risk-based approach as defined in the EIB Group environmental and social policy, the requirements of the Environmental Impact Assessment Directive (EIA) 2011/92/EU (as amended by Directive 2014/52/EU), Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC will be checked during appraisal.
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the Project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the European Commission will be duly informed, which will require the promoter to apply those rules.