CEB to finance IREN's sustainable water management project

The Council of Europe Development Bank (CEB) and Italy's IREN S.p.A have signed an €80 million Public Finance Facility to partially finance the company's integrated water services plan in the provinces of Genoa and Parma. The facility is usable in several tranches, with a duration of up to 16 years

The focus of the investments will be on the renewal of outdated infrastructure, the reduction of water supply interruptions, the extension of water services, and the construction of new infrastructure. The total cost of works for the period 2019-2021 is about €290 million, 28% of which to be covered by CEB loan. About 1.1 million inhabitants across 75 municipalities are expected to benefit from an improved, efficient and secure water supply.