- Investment to cover building upgrades and improvements to baggage management and fire prevention systems, terminal equipment and security and IT systems.
- Operation comes under EIB Transport Lending Policy, which prioritises investments in resilient, safe and sustainable critical transport infrastructure.
The European Investment Bank (EIB) and Aena have signed a €160 million loan to finance upgrades to the passenger terminal at Palma de Mallorca International Airport. Coming under the EIB’s Transport Lending Policy, the project is considered to be a strategic element of the DORA II plan for airport regulation in Spain.
Passenger terminal upgrades under the financed project will include optimised commercial and passenger management areas, improvements to terminal facilities such as electricity, air conditioning and technical services, investments in security and upgrades to the baggage management system and to fire and rescue detection and response systems and equipment.
The operation is considered important for its contribution to cohesion in the European Union, as the funds will be fully invested in the Balearic Islands cohesion region. It also involves an airport that is part of the trans-European transport network (TEN-T), making it a project of common interest for the EU. Cohesion regions have a per capita income that is below the EU average. Promoting social and economic cohesion, helping to reduce regional inequalities, and encouraging investment in less developed areas are among the EIB’s cross-cutting objectives, for which more than €5 billion were allocated to Spain in 2023 alone.
The EIB and sustainable transport
The EIB finances projects that drive greener, safer and more accessible transport, in line with its Transport Lending Policy, updated in July 2022 following the adoption of the Climate Bank Roadmap and the European Green Deal. This policy sets the investment priorities needed to surmount the challenges facing the transport sector, including those with a higher impact in the shift to a more sustainable transport model. Sustainable transport is based on four interdependent pillars meant to ensure it is safe, accessible, green and efficient.
Find out more about the EIB’s support for the transport sector here.
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.