Italy’s Motorway Network Set for Green Transformation with EIB’s €1.2 Billion Investment

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(IN BRIEF) The European Investment Bank (EIB) has allocated a €1.2 billion loan to Autostrade per l’Italia SpA (ASPI) for the modernization of approximately 3,000 kilometers of motorways in Italy. This investment, supported by the EIB’s Climate Bank Roadmap and Transport Lending Policy, aims to enhance safety and resilience against climate change while refraining from expanding capacity. The project, aligned with EU initiatives, is expected to create over 13,000 jobs and promote clean mobility through the installation of electric vehicle charging stations and other green technologies.

(PRESS RELEASE) LUXEMBOURG, 15-Feb-2024 — /EuropaWire/ — In a stride toward enhancing safety and environmental sustainability in Italy’s motorway network, the European Investment Bank (EIB), the lending arm of the European Union, is proud to announce a substantial €1.2 billion loan to Autostrade per l’Italia SpA (ASPI), a leading concession holder in toll motorway construction and operation across Europe. This investment, underpinned by the EIB’s Climate Bank Roadmap and Transport Lending Policy, underscores a joint commitment to modernizing approximately 3,000 kilometers of motorways managed by ASPI, fortifying them against climate change-related adversities while refraining from expanding their capacity.

Vice-President of the EIB, Gelsomina Vigliotti, affirmed, “This operation shows the EIB’s commitment to promoting safety and environmental sustainability on the Italian motorway network, an integral part of the TEN-T core corridor. The planned work will also contribute to developing the single market and fostering the economic, social, and territorial cohesion of the European Union.”

Paolo Gentiloni, European Commissioner for the Economy, echoed this sentiment, stating, “This major investment in Italy’s transport infrastructure will make driving on our motorways safer and improve their resilience to extreme climate events, which we know are set to become ever more common. I am especially pleased that through this significant injection of funding from InvestEU and the EIB, the EU is helping to support more than 13,000 jobs in Italy.”

Roberto Tomasi, CEO of ASPI, expressed gratitude for the EIB’s financing, stating “This EIB financing confirms Autostrade’s financial strength and recognises the importance of projects to modernise and upgrade infrastructure built in the 1960s and 1970s. These projects are vital for national growth and to account for ever safer, greener, and more innovative future mobility.”

Of the €1.2 billion loan, €800 million, with a 15-year maturity, aligns with ASPI’s concession expiration, facilitating network rejuvenation for enhanced resilience, especially against future climate events. Additionally, the EIB’s commitment encompasses an extra €400 million to bolster ASPI’s ongoing modernization initiatives.

The project’s environmental dimension is paramount, with EIB resources earmarked to promote clean mobility, encourage alternative energy adoption, and deploy technological solutions for energy efficiency. Notably, the financing will facilitate the installation of electric vehicle charging stations, solar panels, and LED lighting systems throughout ASPI’s managed network.

In sync with the Climate Bank Roadmap and the EIB’s Transport Policy, this project signifies a significant stride in modernizing Italy’s motorway network while proactively adapting it to climate change challenges. The central TEN-T corridor stands to directly benefit from this endeavor.

Moreover, the operation is anticipated to catalyze substantial economic gains, generating employment opportunities across the nation. The EIB projects that over 13,000 individuals will find employment during the project’s implementation phase, underscoring the Bank’s unwavering commitment to fostering economic growth and prosperity.

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It provides long-term financing for sound investments that contribute to EU policy. The Bank finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). In the last five years, the EIB Group has provided more than €58 billion in financing for projects in Italy.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for EU policy priorities like the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme has three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the projects of the implementing partners, increasing their risk-bearing capacity and thus mobilising at least €372 billion in additional investment.

Autostrade per l’Italia group is one of the largest toll motorway concession holders in Europe and the world, managing a network of around 3 000 km of roads. ASPI operates as an integrated mobility provider across Italy, including via its subsidiaries: Amplia (construction), Movyon (tech solutions), Tecne (engineering), and Free To X and Elgea (network electrification and renewable energy generation). The group’s more than 9 000 employees are working to meet the goals of its industrial plan for ever safer and more sustainable mobility.

Media contact:

Lorenzo Squintani
l.squintani@eib.org
+352437982528

Press Office
press@eib.org
+352 43791

SOURCE: European Investment Bank