Utility services in Italy get financial boost from Investment Plan for Europe

The European Investment Bank (EIB) is providing €100 million to Acsm Agam, a utility that provides several services in northern Lombardy in Italy. The financing is guaranteed by the Investment Plan’s European Fund for Strategic Investments. Acsm’s activities span water and electricity networks, district heating, street lighting, energy efficiency and IT security. Some 900,000 people will benefit from the company’s 5-year investment plan. 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.” The press release is available here. As of November 2019, the Investment Plan had mobilised €450.6 billion of investment across the EU, including €68.8 billion in Italy, and supported more than one million start-ups and small and medium businesses.