COMO WATER INVESTMENTS

The project will finance investments in water and waste water infrastructure in the Province of Como (Lombardy Region) during the period 2023-2026.

The aim is to meet the customer service standards set in the operating service agreement and the Key Performance Indicators set by the regulator ARERA. The related investments also aim at complying with all environmental requirements set by the national and EU legislation, notably the Drinking Water Directive 98/83/EC, the EU Urban Wastewater Treatment Directive 91/271/EC (UWWTD), as amended by 98/15/EC, and the Water Framework Directive (2000/60/EC).

The project will support investments in water and wastewater infrastructure in the Lombardia Region in Italy. In doing so, it will ensure compliance with key European regulations in the water sector, and improve the quality and resilience of water and wastewater water services. The Project will contribute to the Bank's policy objectives of Sustainable Energy and Natural Resources as well as Climate Action and Environmental Sustainability. The Project will address a number of market failures, including those associated with public goods, unaccounted for externalities and information failures, generating positive health and environmental benefits, which would not be realised to the same extent without public intervention. The Project will also contribute to improving the efficiency of the potable water supply system while increasing its resilience against climate related risks. These benefits are not reflected in market prices and would not be realised to the same extent without public intervention.

The EIB support is expected to bring a tangible value added by lowering the project's cost of funding

and offering a tenor longer than the one normally proposed by other financers.

The investment is geared toward upgrading water and wastewater infrastructure (water and wastewater treatment plants, networks, pumping stations) bringing positive environmental impacts. Compliance with the EU Water Framework Directive (2000/60/EC), Urban Waste Water Treatment Directive (91/271/EEC), and EU and national environmental legislation (notably under EIA Directive 2011/92/EU as amended by the Directive 2014/52/EU, Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC) will be verified during appraisal. The project is expected to contribute to Climate Action and Environmental Sustainability (CA&ES) objectives, in particular to climate adaptation and sustainable use and protection of water and marine resources.

The promoter has to ensure that contracts for the implementation of the project have been or will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/23/EU where applicable and/or 2014/24/EU where applicable 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 EU Official Journal, as and where required.