Spain: EIB loan for Andalusian universities
The European Investment Bank (EIB) has provided a EUR 450 million loan to finance investment in Andalusia’s ten public universities. The project includes investment in the construction of buildings and refurbishment of facilities and equipment in Andalusia’s public universities, particularly in support of their scientific and research work.
The loan contract was signed today in Seville by EIB Vice-President Magdalena Álvarez Arza and Carmen Martínez Aguayo, Andalusia’s Minister of Finance and Public Administration, in the presence of the region’s President, José Antonio Griñán.
The loan will enable new investments to be made in Andalusia’s university system between 2011 and 2014, particularly in educational and scientific infrastructure, and in research programmes. This will help to improve the standard of teaching and scientific output of Andalusia’s universities.
The projects carried out will not only enhance the innovative nature of the production facilities and further stimulate economic activity in Andalusia but also attract new investment, which will ultimately improve competitiveness.
These operations are in line with the EU’s and the EIB’s objectives, as set out in the Europe 2020 strategy, one of the priorities of which is to develop the knowledge economy, which provides a good basis for boosting competitiveness and for sound economic growth.
