The European Investment Bank (EIB) and Italian multi-utility A2A have signed a 15-year €115 million loan agreement to finance integrated waste management and hydropower investments.

The hydropower schemes in A2A’s energy sector are aimed at maintaining and increasing the energy efficiency of plants located in Lombardy and Calabria.

All of the schemes in the deal meet the EIB’s eligibility requirements for financing in the energy and environment sectors. The EIB said the schemes will lead to an increase in power generation from renewable sources and more efficient material recovery.

EIB continues support for European SMEs – Strong focus on innovation

The EIB’s Board of Directors has separately  approved loans worth up to €5.6 billion for the benefit of small and medium sized businesses (SMEs) and mid-cap companies in the European Union. This brings total EIB support for SMEs and Mid-Caps so far in 2014 to € 6.8 billion.

EIB President Werner Hoyer commented:

“Given the global competition, Europe has to enhance its long-term growth potential by supporting investments with strong positive external effects like research, development, innovation and infrastructure. Europe must unlock its bottlenecks to sustainable growth.”

In the field of innovation and broadband infrastructure the Board approved loans for projects worth up to €1.4 billion to strengthen the competitiveness of European business.

Loans of up to €700 million were approved for strategic infrastructure projects, reflecting other key priorities of the bank. Up to €455m will go to the area of renewable energy.

With these new approvals, the number of EIF deals approved in 2014 amounts to 17, with commitments in the order of €487.5 million and an expected overall leverage of €1.5 billion. The total volume of EIB Group, comprising EIB and EIF, in support of SMEs in 2014 to date amounts to €7.3 billion.