The European Investment Bank (EIB) has signed a €470 million loan with the regional government of Valencia to co-finance a series of green, social and digital investments in the Spanish region. Through the EIB loan and co-financing from the Valencia regional government, support will be provided for projects included in the 2021-2027 operational programmes of EU cohesion policy funds, particularly the European Regional Development Fund (ERDF) and European Social Fund Plus (ESF+).
The loan 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, sustainable transport, and energy-efficient public buildings.
In this way, the EIB framework loan will support the region’s dual green and digital transitions, 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 the Valencia region, 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.
More information: European Investment Bank
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