Release date: 6 September 2021
Promoter – Financial Intermediary
ACQUE BRESCIANE SRLLocation
Description
Investments in wastewater infrastructure in the Province of Brescia (Lombardy Region).
Additionality and Impact
The project supports investments in wastewater infrastructure by Acque Bresciane("AB"), a publicly owned utility providing Integrated Water Services in the Lombardy Region, Italy. It ensures compliance with key European regulations in the water sector, and improves the coverage and quality of 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 traditional banking funding. The EIB tenor goes beyond the tenor offered by the commercial banks, implying effective "time-subordination" of the EIB loan vis-à-vis other lenders. As AB will raise additional financing in the next 3 years to support their ambitious investment programme, the presence of the EIB loan may likely have positive impact on the confidence of other financiers.
Objectives
The project concerns the 2021-2023 wastewater investment programme of the Promoter aimed at the upkeep of efficient and sustainable wastewater services and compliance with the environmental requirements set by national and EU legislation.
Sector(s)
- Water, sewerage - Water supply; sewerage, waste management and remediation activities
Proposed EIB finance (Approximate amount)
EUR 45 million
Total cost (Approximate amount)
EUR 100 million
Environmental aspects
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 and the Water Framework Directive 2000/60/EC, and their contributions to 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.
Procurement
The Bank will require the Promoter 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 or 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.
Status
Signed - 3/10/2022
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).