Spain: EIB loans to finance education and environmental projects and SMEs in Castilla-La Mancha

Today in Toledo, the Vice-President of the European Investment Bank (EIB), Magdalena Álvarez Arza, and the Vice-President and Finance Minister of the Castilla-La Mancha Region, María Luisa Araújo, signed four finance contracts totalling EUR 189 million in the presence of the Region’s President, José María Barreda.

The EIB Vice-President stressed that “the EIB’s contribution will give a major boost in areas of common interest to the European Investment Bank and the Government of Castilla-La Mancha, such as business support, environmental protection and fire prevention policies, and the building of new infrastructure. The projects comprise over 200 individual schemes.”

The following projects are concerned:

• EUR 50 million – the second instalment of an overall loan of EUR 160 million ­– will go towards upgrading a range of facilities in the region, particularly through the construction of health, education and cultural centres.
• EUR 25 million will serve to finance measures to protect and improve the region’s forests in the final instalment of an overall loan of EUR 100 million approved for this project.
• EUR 54 million will support the University of Castilla-La Mancha’s 2009-2013 investment programme. The project consists of expanding and improving teaching at the university and at research centres in a number of the region’s cities by building new – or refurbishing existing – facilities to increase the available space for teaching and research. These schemes will provide university students with a broader range of courses and a higher quality of education.
• The fourth operation consists of a EUR 60 million credit line for financing projects presented by SMEs (mainly in the industrial, tourism, services and knowledge economy sectors) and local authorities.

The European Investment Bank is the EU’s long-term financing institution promoting European objectives. Founded in 1958, it operates in the 27 EU Member States and more than 130 other countries worldwide. The Bank’s financing operations are mounted in the framework of well defined EU policies.