EIB set to provide EUR 100m to finance Acsm Agam development plan

Acsm Agam is listed on the Milan stock exchange and operates in the north of Lombardy (provinces of Monza, Como, Lecco, Sondrio, and Varese).

The European Investment Bank (EIB) is supporting the development plan of Acsm Agam, a utility that provides several services. Acsm Agam is listed on the Milan stock exchange and operates in the north of Lombardy (provinces of Monza, Como, Lecco, Sondrio, and Varese).

The EIB is set to provide EUR 100m of financing with a term of up to 16 years to help implement the five-year investment plan (2019-2023) of the Acsm Agam Group. The loan is guaranteed by the European Fund for Strategic Investments (EFSI), one of the pillars of the Investment Plan for Europe (the Juncker Plan).

More specifically, the projects – that are all in areas where the Group operates – concern the environment sector, water and electricity networks, hydroelectric power plants, district heating, street lighting, energy efficiency and smart cities, and IT security. A total of around 900,000 people will benefit from the company's investments, both families and businesses.

European Commissioner for the Economy, Paolo Gentiloni, said: "Europe is investing to improve the lives of our citizens. Thanks to this €100 million loan from the European Investment Bank, part of the so-called Juncker Plan, Acsm Agam will be able to continue improving public services in the north of Lombardy, including improved street lighting, water, and electricity distribution."

EIB Vice-President Dario Scannapieco said: "Financing projects linked to energy saving and upgrading to combat climate change is the main challenge of the EIB as the bank of the European Union. In this case, Acsm Agam Group's investment plan is designed to improve the quality, efficiency, and safety of the services provided. A flagship project showing how Europe can have a positive impact on European citizens' life".

"Following the implementation of a major merger transaction in our operating regions and the approval of an ambitious industrial plan, receiving the support of the EIB today to put this all into practice over the long term is another key step forward in our Group's development," added Acsm-Agam CEO Paolo Soldani.