ICF Secures €150 Million in Loans from EIB and CEB to Enhance Catalonia’s Care Facilities

ICF Secures €150 Million in Loans from EIB and CEB to Enhance Catalonia’s Care Facilities

(IN BRIEF) The Institut Català de Finances (ICF) has signed agreements with the European Investment Bank (EIB) and the Council of Europe Development Bank (CEB) to secure €150 million in loans to develop social infrastructure in Catalonia. These loans will fund the creation and improvement of care homes, day centres, and assisted living facilities for vulnerable groups such as the elderly and people with disabilities. The total investment for these projects could reach €400 million and is expected to create 7,500 new care places. All projects funded must adhere to European sustainable building standards. The collaboration between ICF, the EIB, and the CEB supports the EIB’s mission to enhance Europe’s social infrastructure.

(PRESS RELEASE) LUXEMBOURG, 15-May-2025 — /EuropaWire/ — The Institut Català de Finances (ICF) has secured two major loans to fund the development of social infrastructure projects in Catalonia. The European Investment Bank (EIB) has agreed to lend €100 million to ICF as part of a €150 million loan agreement aimed at enhancing the region’s care facilities. Additionally, the Council of Europe Development Bank (CEB) has provided a €50 million loan to support these initiatives. These loans are designed to support the construction, renovation, and expansion of care homes, day centres, and assisted living spaces for vulnerable groups, including the elderly and individuals with disabilities.

The financing agreements will enable ICF to unlock up to €400 million in investment, which will be directed toward supporting both public and private entities, including non-profit organizations, foundations, and local administrations. These projects aim to create approximately 7,500 new care places in the region. Furthermore, all projects funded through these loans must meet European standards for sustainable buildings, particularly the nearly-zero energy building (NZEB) criteria.

María Serrano, Head of the EIB’s Public Sector Division in Spain, highlighted the bank’s commitment to improving social infrastructure in Europe, emphasizing that this financing would help expand and improve facilities for the elderly and dependent individuals. María Sigüenza, Country Manager for Spain at the CEB, echoed this sentiment, noting the partnership’s role in supporting social inclusion and reducing inequality in Spain. Vanessa Servera, CEO of ICF, praised the agreement as a successful example of public-private collaboration and pointed out that the financial risk management would be handled by ICF while the projects would be launched by public entities and other stakeholders.

The agreement with ICF aligns with the EIB Group’s strategic goal of strengthening Europe’s social infrastructure, a key priority outlined in its 2024-2027 Strategic Roadmap. The EIB’s loan is guaranteed by InvestEU, the EU’s flagship programme that aims to mobilize significant investments to support European policy goals. For the CEB, this agreement exemplifies its ongoing commitment to social development, as outlined in its 2023-2027 Strategic Framework.

ICF

ICF has been the public promotional bank in Catalonia for 40 years, and in that period it has financed 37,000 clients for a total of €16 billion. Its main mission is to promote the financing of companies and entities in order to contribute to the growth, innovation and sustainability of the Catalan economy. ICF acts as a complement to the private sector, offering a wide range of financing solutions focused on loans, guarantees and investment in venture capital. Since 2014 it has been a member of the European Association of Public Banks (EAPB), which brings together a large number of the public promotional banks and financial entities operating in Europe.

EIB

The ElB is the long-term lending institution of the European Union, owned by the Member States. Built around eight core priorities, it finances investments that pursue EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

The EIB Group, which also includes the European Investment Fund, signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Agreement, as pledged in the group’s Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects that contribute directly to climate change mitigation and adaptation, and a healthier environment.

In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024, helping power the country’s green and digital transition and promote economic growth, competitiveness and better services for inhabitants.

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InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that invest in projects, leveraging on the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.

CEB

The Council of Europe Development Bank (CEB) is a multilateral development bank, whose unique mission is to promote social cohesion in its 43 member states across Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.

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SOURCE: European Investment Bank