Madrid builds schools for 58 000 children in new suburbs, backed by a loan from the EU’s financing arm
Spain’s capital is one of Europe’s fastest-growing cities. And Madrid’s population is growing more than twice as fast as the rest of Spain. Entirely new neighbourhoods are emerging on the city’s outskirts.
The children in these new neighbourhoods need schools, so the Comunidad de Madrid plans to build new schools and renew old ones to provide quality public education for 58 000 students.
“Education is a pillar of our society,” says Rodrigo Robledo Tobar, general director of financial policy and treasury of the Madrid region. “This will be an investment in the next generations, in our future.”
The suburbs are growing because of increased population. But people are also moving there because apartments are more affordable. Madrid is purchasing land to build on, paying for the planning and construction, adhering to regulations, and equipping the schools with technology to provide a modern learning environment.
The European Investment Bank, which is owned by the 27 EU member states, is committed to loaning €250 million to finance Madrid’s investment in its schools. That’s just one of many investments in Spain by the European Union’s financing arm. Last year, we invested €11.4 billion in Spain, which is equal to almost 1% of the country’s gross domestic product.
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