EIB and ETRA SpA Invest €100M in Veneto's Recycling and Water Services

The initiative not only supports regional development in Veneto but also aligns with broader EU goals of sustainability and resilience in the face of climate change.

The European Investment Bank (EIB) and ETRA SpA - Società benefit have formalized an agreement for a substantial €100 million investment aimed at enhancing recycling facilities and integrated water services in the Veneto region of Italy. This initiative is a part of the broader European Union program, InvestEU, which seeks to mobilize over €372 billion in investments by 2027.

Key Aspects of the Investment:

1. EIB's Commitment and InvestEU:

The EIB's funding is bolstered by InvestEU, which has already made a significant economic impact in Italy, providing approximately €2.7 billion in financing under the program. This investment aligns with the objectives of the European Green Deal, focusing on climate action and the transition towards a circular economy.

2. Main Initiatives:

The funds will be allocated to several key projects, including:

Restructuring and constructing waste treatment and water supply installations.

Purchasing biomethane-fuelled vehicles.

Expanding water networks.

These initiatives aim to enhance sustainability, efficiency, and resilience in the region's waste and water management sectors.

3. Previous Investments and Ongoing Commitment:

The EIB has a history of supporting modernisation and efficiency in Veneto's water networks. In 2022, it financed improvements through the Viveracqua Hydrobond, a €148.5 million long-term instrument issued by six consortium managers in Viveracqua.

4. Support from EU and Italian Officials:

European Commissioner for the Economy, Paolo Gentiloni, praised the initiative as a significant step towards a greener economy, emphasizing the role of InvestEU in promoting sustainable investments.

EIB Vice-President Gelsomina Vigliotti highlighted the strategic partnership with Italian utilities and the importance of innovative solutions for environmental protection and quality of life improvements.

5. ETRA's Role and Future Plans:

Domenico Lenzi, CEO of ETRA, outlined the company's ongoing and planned investments aimed at enhancing sustainability and resilience, supported by the long-term funding from the EIB and the European Commission. This funding is crucial for ETRA's efforts in advancing a circular economy, providing favorable financial conditions not typically available in the credit market.

Broader Impact and EIB's Contribution:

1. Italy's Water Sector:

Over the past five years, the EIB has invested €3.75 billion in Italy's water sector, financing 40 operations. Italy has been the largest recipient of EIB resources for the water sector during this period.

2. Global Reach:

With over 1,600 projects and approximately €80 billion in financing since 1958, the EIB is a leading global lender in the water sector.

This investment by the EIB and ETRA SpA is a testament to the commitment of both organizations to fostering sustainable development, protecting natural resources, and enhancing the quality of life through innovative environmental solutions. The initiative not only supports regional development in Veneto but also aligns with broader EU goals of sustainability and resilience in the face of climate change.