EIB Supports the Green Transition in Italy with €35 million Investment

EIB funds will contribute to financing the new anaerobic waste digestion plant, renovation of existing recycling facilities, energy efficiency of public buildings and the purchase of environmentally-friendly means of transport in Pescara, Italy.
EIB Supports the Green Transition in Italy with €35 million Investment
Courtesy of EIB

The European Investment Bank (EIB) is financing the 2021-2025 climate strategy of the Municipality of Pescara with a €35 million framework investment aimed at promoting the circular economy, energy efficiency and solid waste management.

EIB funds will make it possible to renovate existing waste sorting facilities, finance the purchase of environmentally-friendly means of transport such as electric, hybrid or biomethane vehicles, and improve energy efficiency in 55 public buildings, including schools, in this city of the Abruzzo region.

Thanks to the support of the EU bank, the Municipality of Pescara will develop a new anaerobic digestion system to manage 50 000 tonnes of waste per year and produce 4 million cubic metres (m³) of biomethane each year. In addition, the project provides for the upgrading of a sorting plant for recyclable materials with a treatment capacity of 30 000 tonnes per year compared to approximately 8 000 at present and the re-establishment of an ecological island for the management of electronic and electrical waste. 

The project will be coordinated and implemented by the municipal companies Ambiente SpA for waste management and Pescara Energia SpA for energy management. The latter will replace fixtures and insulation coverings in 55 public buildings and schools, improving their energy efficiency also through the use of energy-saving lighting and the installation of photovoltaic panels.

EIB Vice-President Gelsomina Vigliotti stated, “Providing high-quality waste management services and improving the energy efficiency of public buildings is key to safeguarding public health and protecting the environment. In supporting the Municipality of Pescara's climate strategy, the EIB confirms its commitment to promoting the green transition, the circular economy and the European Union’s social cohesion policies.”

Mayor of the Municipality of Pescara Carlo Masci said, “We are at a very delicate and unique juncture, at a time when we need to bring together the economic resources, administrative procedures, models and visions of the 21st century. We are engaged in a joint effort involving the political class, entrepreneurial forces, stakeholders, economic and social representatives, and the worlds of education and culture, academia, sport and young people. Today we are investing in the future by achieving virtuous synergies between the environment, digitalisation and good governance.”

The city of Pescara’s plans for the four-year period 2021-2025 involve a total spending and investment commitment of more than €58 million. The focus is on waste management, the circular economy and energy efficiency. Current events have presented a forward-looking vision for meaningful impact, and we have put together a wealth of ideas and plans designed to entirely change the face of the city for the purposes of efficiency.

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