The European Investment Bank (EIB) and Valle Umbra Servizi have signed a €35 million agreement to boost water service resilience and efficiency in 22 municipalities of the province of Perugia.
The EIB green loan (a label used for loans used exclusively for projects fully contributing to the Bank’s climate action and environmental sustainability goals) will be used to implement a series of targeted operations, including the connection of distribution systems, the construction of new wells to increase water supply, the expansion of the sewerage network and improvements to wastewater treatment processes. These operations will help to cut water losses and improve the quality, efficiency and overall sustainability of the services offered in the region.
This project is also a key milestone for Umbria, as it is the first in the region to be supported by InvestEU, the European Commission programme aiming to unlock investment of more than €372 billion in Europe by 2027. The EIB Group’s commitment to Italy under InvestEU has already had a major economic impact on the country, with total financing of around €2.7 billion.
The EIB is also set to provide free technical assistance to Valle Umbra Servizi under a previous InvestEU Advisory Hub agreement. The aim is to develop a daecarbonisation plan in line with international climate change goals.
“The goal of the EIB operation is to optimise water use, improve water service quality and ensure security of supply,” said EIB Vice-President Gelsomina Vigliotti. “This consolidates our role as one of the largest financiers of the Italian water sector, while our advisory services are helping to bring InvestEU resources to Umbria for the first time.”
“The EIB support is a tangible confirmation of the company’s growth path,” commented Eng. Vincenzo Rossi, President of Valle Umbra Servizi. “The project will generate positive economic and environmental externalities as it contributes to improve services for the entire territory served. I extend my sincere thanks to all those who collaborate daily in the development of a shared corporate vision.”
Italy receives more EIB resources for the water sector than any other country
With over 1,600 projects and around €80 billion in financing provided since 1958, the EIB is one of the world’s leading lenders to the water sector. In the last five years, Italy has received more EIB resources for the water sector than anywhere else, seeing 40 operations financed for a total of €3.75 billion. This loan to Valle Umbra Servizi is the first it has received from the EIB, and comes in addition to those recently signed with Acquedotto Pugliese (€270 million), Como Acqua (€50 million), Hera Group (€460 million), ACEA (€435 million), Acque (€130 million), CIIP (€50 million) and Iren (€150 million).
