BRUSSELS
,
May 30, 2024
(press release)
–
Brussels: European Competition Directorate General (DG-COMP) has issued the following news release: The European Investment Bank (EIB) backed by the InvestEU programme and ETRA SpA - Societa benefit have signed an agreement concerning EUR100 million of investment in improving and integrated water services in the Veneto region, Italy. The main initiatives to be financed by this investment include the restructuring and construction of waste treatment and water supply installations, the purchase of biomethane-fuelled vehicles and the expansion of water networks. The project will help to promote climate action and further the transition towards a more circular economy, which are key objectives of the European Green Deal. Commissioner for the Economy, Paolo Gentiloni, said: "This is an excellent example of how the InvestEU programme together with the EIB promotes a greener and more resilient economy. This agreement will support investments in and water services in the Veneto region, moving towards a more circular economy. This in turn will help to protect our natural resources and mitigate the impacts of climate change." The InvestEU programme provides the EU with long-term funding by leveraging private and public funds in support of EU policy priorities. As part of the programme, the InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee and thus mobilise at least EUR372 billion in additional investment. COPYRIGHT 2024 Right Vision Media
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