BrianzAcque receives one the first Green loans of €55 from the European Investment Bank to strengthen their climate resilience and improve resource management
The European Investment Bank (EIB) granted one of the first Green loans of €55 to BrianzAcque (Monza and Brianza, Italy) to improve the efficiency of water infrastructure and wastewater management in the province of Monza and Brianza between 2022 and 2025, benefiting about 850 000 local residents in Lombardy.
This is the first "green loan " granted by the European financial institution in the water sector. This loan will allow BrianzAcque to field a series of projects aimed at:
- mitigation of the effects of climate change
- care of the environment
The project will enable BrianzAcque to bring its plants into line with applicable EU Directives, reinforcing 85 km of water supply networks and creating a further 16.5 km of new sewerage pipelines. It will also help to improve resilience to risks related to adverse weather conditions caused by climate change. Water sector works are expected to help create 150 new jobs during the implementation phase of the project.
The installation of new overflow tanks is planned to prevent overflows and flooding in various municipalities in Brianza. These tanks will temporarily store water in excess of the sewage disposal capacity and have a volume equal to 60 Olympic swimming pools. The works will also be relevant for greenhouse gas reduction and assessed in line with the Paris Agreements and the low-carbon targets of the EIB’s Climate Bank Roadmap.
Read more on EIB's website here