INWIT DIGITAL INFRASTRUCTURE DEVELOPMENT II (EIB-20240521)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Italy
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Feb 5, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Infrastrutture Wireless Italiane (INWIT) S.p.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 363.95 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 350
Converted using 2025-02-05 exchange rate.
Loan Amount (USD)
$ 363.95 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 350 million
Converted using 2025-02-05 exchange rate.
Project Cost (USD)
$ 819.41 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 788 million
Converted using 2025-02-05 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Mar 8, 2025

Disclosed by Bank Mar 3, 2025


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated on the project disclosure page, this is the second EIB operation with Infrastrutture Wireless Italiane (INWIT) S.p.A., a leading company in mobile and broadcast communication towers in Italy.
The present project aims to support INWIT's expansion and modernisation, specifically focusing on towers and rooftop sites. It will host radio, antennas, and transmission equipment for multiple mobile network operators (MNO) and fixed wireless access operators.

The expansion through new sites will enable a wider coverage, particularly for 5G services, including in more disadvantaged areas.
The project also comprises new network infrastructure for fibre optic backhauling of the tower sites and the installation of small cells and Distributed Antenna Systems (DAS) to extend the mobile network coverage inside facilities such as hospitals, museums, shopping malls, metro underground and highway tunnels. Such investments will support a better network coverage, higher network capacity and allow for better mobile indoor services particularly in the light of strongly raising mobile data traffic.

The project aligns perfectly with the "EU Digital Compass 2030," which states that by 2030 all EU households must have Gigabit connectivity. It also addresses the market failure of under-investment in Very High-Capacity Network (VHCN) infrastructure in areas previously considered unprofitable. The strategy of sharing infrastructure will facilitate the expansion to less populated areas due to reduced investment costs.

Furthermore, the project supports Innovation, Digital, and Human Capital - Digital Infrastructure and addresses failures in the financial market caused by the fact that the economic lifetime of digital infrastructure exceeds the tenor of loans, which are typically not available on domestic capital markets or from commercial banks.

The project is expected to accelerate investment in VHC networks in designated areas, thereby rating the EIB's as 'Very Good'. Additionally, it is important to consider that a significant share of the project (42%) will be located in cohesion regions.

The Project is eligible under / conforms with Article 309 point (a) Projects for developing less-developed regions and point (c) common interest of the Treaty on the functioning of the European Union.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EIB, INWIT, Italy's first tower company and one of the country’s digital infrastructure leaders, builds and manages digital shared infrastructure enabling mobile telecommunication connectivity. Its assets form part of an integrated ecosystem of macro-grids (around 25 000 towers) and micro-grids (some 600 dedicated indoor DAS roofs), including 4G and 5G of the main mobile operators, FWAs and IoT sensors. INWIT is listed on the Italian Stock Exchange (FTSE MIB – benchmark stock market index)

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - INFRASTRUTTURE WIRELESS ITALIANE SPA Client Communications

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No project contacts provided at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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