- The EIB Group – through the EIB Institute, the group’s philanthropic and social impact arm – will donate €300 000 to the NGOs Save the Children, SOS Children’s Villages and Casa Caridad to support communities affected by flash flooding in Spain.
- The funds will be used to provide psychosocial support, create suitable conditions for children’s schooling and restore housing to a liveable state.
- This donation comes in addition to an initial financial package of €900 million launched by the EIB Group in November to support recovery and reconstruction in the affected areas.
- The EIB Group will channel an additional 400 million through financial institutions to support SMEs and mid-caps affected by the floods.
The EIB Institute, the philanthropic and social impact arm of the European Investment Bank Group (EIB Group), has announced a donation of €300 000 to support communities affected by the flash flooding that devastated parts of Spain on 30 October and in the first few days of November. The donation will be channelled through the NGOs Save the Children Spain, SOS Children’s Villages and Casa Caridad.
The floods have left many communities in urgent need of help. This donation by the EIB Institute will lend critical support for residents to restore decent living conditions. With the funds, Save the Children Spain will provide psychosocial support and create adequate learning conditions for children, SOS Children’s Villages will give communities administrative assistance and help them meet essential needs, and Casa Caridad will help families restore their homes.
The EIB Group is thus continuing to increase its support for recovery and reconstruction in the parts of eastern and south-eastern Spain hardest hit by the storms. This includes a €900 million initial response package announced by the group on 6 November to reschedule and accelerate planned disbursements and thereby facilitate the reconstruction of critical infrastructure to be carried out by regional authorities and public bodies in the affected areas, as was also done following the floods in Central Europe in September.
The EIB has also launched operations to channel approximately €400 million through financial institutions to support SMEs and mid-caps affected by the floods, with a first agreement with Banco Sabadell.
“The EIB Group has been quick to mobilise to support recovery efforts in the aftermath of the devastating floods in Spain. Today, we supplement our lending with this donation from the EIB Institute, as a sign of our solidarity and commitment to helping the hardest hit communities,” said EIB President Nadia Calviño.
“The EIB Institute has a long track record of responding to humanitarian crises with swift, impactful support. Over the past decade, we have consistently prioritised providing aid to the most vulnerable, such as children, single-parent and large families, elderly people, people with disabilities and those suffering from malnourishment. Our donations have reached countless individuals, providing critical aid and building resilience in communities around the world. Our mission is to bring hope and relief to those in need, wherever they may be,” said EIB Institute Director Shiva Dustdar.
The EIB Institute regularly grants aid in response to crises and natural disasters, and donates IT equipment from the EIB. In 2023, EIB donations through the EIB Institute helped populations affected by the war in Ukraine, the earthquake in Türkiye and Syria and the flooding in Slovenia, among other events.
Background information
European Investment Bank
The EIB is the long-term lending institution of the European Union, owned by the Member States. It finances investments that pursue 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 EIB Group, consisting of the European Investment Bank and the European Investment Fund, 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.
The EIB Institute was set up within the EIB Group to foster thought-leadership and impact initiatives with European stakeholders and the public at large.