- The loan signed is the first tranche of financing totalling up to €290 million approved by the EIB.
- The loan will enable the regional government of Castilla y León to co-finance investments in education, research, development and innovation, and energy efficiency, among other sectors.
- The financing will go to projects included in the 2021-2027 plan of the European Regional Development Fund (ERDF) and other EU funds.
- The agreement highlights efforts to promote economic, social and territorial cohesion, one of the EIB Group’s priorities.
The European Investment Bank (EIB) has signed a €87 million loan with the regional government of Castilla y León to co-finance a series of green, social and digital investments in the Spanish region. The loan will support projects included in the 2021-2027 operational programmes of EU cohesion policy funds, particularly the European Regional Development Fund (ERDF), European Social Fund Plus (ESF+) and the Just Transition Fund.
It is the first tranche of financing totalling up to €290 million for the regional government of Castilla y León approved by the EIB. Support will co-finance projects in areas such as education and training, research, development and innovation, support for small and medium-sized enterprises (SMEs) and mid-caps in the region, and the energy transition and energy efficiency. The regional government estimates that EIB-supported investments will benefit everyone living in Castilla y León, a total of around 2.3 million people.
This means that the EIB framework loan will back the dual green and digital transition in the region, business competitiveness and sustainable urban development.
The agreement highlights the EIB Group’s commitment to economic, social and territorial cohesion, one of the Group’s priorities and cross-cutting objective. All the projects will take place within Castilla y León, which the European Union considers to be a transition region as its gross domestic product per capita is between 75% and 100% of the EU average.
Background information
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.