(IN BRIEF) The European Investment Bank Group (EIB Group) and Spain’s Ministry of Economy, Trade, and Enterprise have launched the Regional Resilience Fund, aimed at channeling Next Generation EU loans into key projects within the Spanish Autonomous Communities. This initiative will facilitate strategic investments in areas such as social and affordable housing, urban regeneration, sustainable transport, energy transition, and SME competitiveness. The first financing phase, up to €3.4 billion, has been activated, with the Autonomous Communities playing a key role in project selection. The EIB Group will provide technical and financial expertise to ensure the development of impactful projects, enhancing Spain’s green and digital transition and overall economic competitiveness.
(PRESS RELEASE) LUXEMBOURG, 20-Jun-2024 — /EuropaWire/ — A significant step has been taken to facilitate strategic investments across the Spanish Autonomous Communities through the newly established Regional Resilience Fund. This initiative is a collaboration between the European Investment Bank Group (EIB Group) and Spain’s Ministry of Economy, Trade, and Enterprise, aiming to channel Next Generation EU loans into key projects that support environmental and social development.
The Ministry has requested that the Autonomous Communities appoint representatives to the governing bodies of the various financial instruments, marking the initiation of project selection. The first phase of financing, up to €3.4 billion, has been activated.
This funding will support projects in eight priority areas: social and affordable housing, urban regeneration, sustainable transport and tourism, energy transition, water and waste management, the care sector, research and development, and the competitiveness of industries and SMEs.
The agreement signifies a major milestone in implementing the Spanish Recovery, Transformation, and Resilience Plan. Coordination will be managed between the Ministry, the Autonomous Communities, and the EIB Group, with the latter providing its extensive technical and financial expertise to ensure the success of high-impact projects.
The EIB Group, already experienced in financing sustainable investments in the Autonomous Communities, will act as a strategic partner. EIB Director General, Jean Christophe Laloux, highlighted the Fund’s role in driving the green and digital transition and enhancing the overall competitiveness of the Spanish economy.
The agreement includes a framework to launch the Fund and a phased financing approach. The initial phase includes:
- A direct facility to co-finance EIB-supported operations in renewable energy, clean transport, and sustainable infrastructure.
- An intermediated facility for urban development and sustainable tourism, managed by financial intermediaries selected by the EIB.
- Two EIF-intermediated instruments to support SME financing in innovation, sustainability, and competitiveness.
This flexible financing model aims to adapt to market demands and the specific needs of the Autonomous Communities, maximizing the impact of the funds. Beyond the Fund, the EIB Group will also mobilize private investment, acting as a catalyst for further economic growth.
About the EIB Group
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investment contributing to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.
The European Investment Fund (EIF) is part of the European Investment Bank Group (EIB Group). Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, it contributes to the achievement of key EU policy goals such as competitiveness and growth, innovation and digitalisation, social impact, skills and human capital, climate action and environmental sustainability.
The European Investment Bank Group (EIB Group), consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF), reported total financing signatures in Spain of €11.4 billion in 2023, approximately €6.8 billion of which went to climate action and environmental sustainability projects. Worldwide, the EIB Group signed €88 billion in new financing in 2023.
Media Contacts:
Maite Cordero
m.corderomunoz@eib.org
+34 606 66 82 62
Monica Faro
m.faro@eib.org
+352 4379-71105
Press Office
press@eib.org
+352 43791
SOURCE: European Investment Bank
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