The European Investment Bank (EIB) and the Junta de Andalucía have joined forces to support and promote the development of Andalusia's agricultural sector. The EU bank manages on behalf of Junta de Andalucía a guarantee fund of up to €23 million with the goal of providing financing of up to €100 million.
The fund helps to preserve and create jobs in two sectors – agriculture and agrifood –, which together generate more than 34% of employment in Andalucía where over 30% of the population live in rural areas.
The Fund of Funds Agri Andalucía is co-financed by the European Agricultural Fund for Rural Development and Junta de Andalucía.
This fund of funds is part of the financial instruments that the EIB is deploying in EU countries. Read more about the shared management funds and financial instruments.
The Fund of Funds Agri Andalucía is co-financed by the European Agricultural Fund for Rural Development and Junta de Andalucía.
Investing in agriculture and agrifood
The EIB issues guarantees for the benefit of the Financial Institutions to partially cover the portfolio credit risk of newly originated loans granted to projects operating in the agricultural and agro-industrial sectors that are included in the guaranteed portfolios. The coverage will enhance access to finance as well as improve the financial conditions provided to projects.
What is eligible
Fund of Funds Agri Andalucia objectives are the following:
- Invest in tangible and intangible assets in farms dedicated to improving their competitiveness by increasing production capacity, modernising existing farms and improving product quality through the introduction of new technologies and innovation.
- Invest in tangible and intangible assets for the processing/marketing and/or development of agricultural products, with the general objective of strengthening the competitiveness and position of agribusinesses in value chains through the processing and marketing of agricultural products.
The transactions supported by Fund of Funds Agri Andalucia must finance an investment located in the Autonomous Region of Andalucía (Spain). In case of transactions financing an investment whose location cannot be determined without ambiguity, the Final Recipient must have an active establishment in Autonomous Region of Andalucía.
Who can apply
Farmers, agricultural cooperatives and producer organisations as well as companies active in the processing and marketing of agricultural products. The fund’s objectives include support for young farmers, new companies and smallholdings dependent on third party financing, together with innovative agricultural projects and processing activities.
Where to apply
CaixaBank S.A has received a guarantee from Fund of Funds Agri Andalucia for the creation of a portfolio of loans in the agricultural and agro-industrial sectors in the region of Andalucía.
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About the European Structural and Investment Funds
The European Structural and Investment Funds (ESI Funds) are financial instruments through which the EU invests in local and regional projects that contribute to job creation and a sustainable and healthy European economy.
The European Agricultural Fund for Rural Development (EAFRD) is one of the five available ESI Funds; it focuses on resolving the particular challenges facing EU's rural areas through three long-term objectives:
- fostering the competitiveness of agriculture;
- ensuring the sustainable management of natural resources, and climate action;
- achieving a balanced territorial development of rural economies and communities including the creation and maintenance of employment.
Spain and the EIB
The EIB has worked with Spain since 1981. We financed the high-speed train connecting Madrid to Barcelona. We modernise hospitals and universities. We improve regional and social cohesion.