European Investment Bank Signs €215 Million Loan Agreement with Andalusia for Regional Development Projects

European Investment Bank Signs €215 Million Loan Agreement with Andalusia for Regional Development Projects

(IN BRIEF) The European Investment Bank (EIB) has finalized a €215 million loan agreement with the regional government of Andalusia to co-finance social, green, and digital investment initiatives in the Spanish region. This funding, part of the EU operational programme for cohesion policy funding 2021-2027, including the European Regional Development Fund (ERDF), aims to support projects contributing to the dual transitions of green and digital technologies, as well as fostering social cohesion. Key areas of investment include education, research and innovation, digitalization, public health, sustainable transport, energy efficiency, and support for small and medium-sized enterprises (SMEs) and mid-caps in Andalusia. This agreement underscores the EIB’s commitment to economic, social, and territorial cohesion, aligning with the EU’s priorities for building a greener and more digital Europe while enhancing the quality of life for its citizens.

(PRESS RELEASE) LUXEMBOURG, 19-Apr-2024 — /EuropaWire/ — The European Investment Bank (EIB) has signed a €215 million loan agreement with the regional government of Andalusia to co-finance social, green and digital investment in the Spanish region. The EIB loan and co-financing from the regional government of Andalusia will go towards projects that contribute to the dual green and digital transitions and to social cohesion in Andalusia. Among others, projects of major importance to the region, such as the new Málaga Hospital.

The EIB loan is part of the EU operational programme for cohesion policy funding 2021-2027, particularly the European Regional Development Fund (ERDF), European Social Fund Plus (ESF+) and the Just Transition Fund.

The loan will co-finance projects in areas including education and training, research, development and innovation (RDI), digitalisation, public health, sustainable transport, energy efficiency and the energy transition, the protection of natural resources, and support for small and medium-sized enterprises (SMEs) as well as mid-caps in Andalusia.

The agreement highlights the commitment of the EIB Group to economic, social and territorial cohesion, which is one of the Bank’s cross-cutting priorities. All operations will take place within the Andalusian autonomous community, which the EU considers to be a cohesion region.

This is the second loan signed by the EIB and the regional government of Andalusia under the 2021/2027 plan of the ERDF. The first loan for €195 million was signed in December 2022.

The EIB loan supports the EU’s five cohesion priorities for building a greener Europe that is more digital, advanced, connected and social, while improving the everyday lives of people in Europe.

The operation has obtained the necessary authorisation from the various competent bodies and Andalusia has obtained advantageous financial conditions to invest in projects of great importance for the Community.

Background information

EIB

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 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. Overall, the EIB Group signed €88 billion in new financing in 2023.

Media Contact:

Maite Cordero
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+34 606 66 82 62

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SOURCE: European Investment Bank