• The operation aims to strengthen the water distribution network, wastewater collection and sewage treatment plants for 1 million people and to improve the sector’s drought resilience.
• It is the first time the EIB has granted sustainability-linked financing to the water sector anywhere in the world.
• Italy was the biggest beneficiary of EIB resources for the water sector from 2016 to 2022, receiving €2.9 billion.
WD News: The European Investment Bank (EIB) has granted €150 million in sustainability-linked financing to Iren, north-western Italy’s multiutility leader and one of the country’s largest water service operators. The goal of the financing is to improve integrated water services for 1 million people in the provinces of Genoa and La Spezia, mitigating the ongoing water crisis through careful management of water resources.
In concrete terms, the planned investment aims to strengthen the water distribution network, wastewater collection and wastewater treatment plants in the provinces of Genoa and La Spezia, helping to ensure compliance with the main EU regulations.
“The sustainability-linked financing granted to Iren aims to foster water loss reduction,” said Gelsomina Vigliotti, Vice-President, EIB.
“The climate emergency and its effects on the water system highlight the need for urgent additional action for the water sector. The objective is to cut water losses from the current 31% to 20% by 2030 by increasing treatment capacity and water reuse, improving existing infrastructure and developing new facilities, delivering positive effects in our areas of operation not only for the environment and the quality of life of residents, but also for the economic and social development of the whole country,” said Gianni Vittorio Armani, CEO of Iren.
Source & image courtesy: EIB
