The European Investment Bank (EIB), the long-term financing institution of the European Union (EU), has advanced a EUR 90 million loan to the Municipality of Barcelona in support of urban infrastructure schemes in the Besòs district of north-east Barcelona.
These funds are earmarked for financing works scheduled under the Area Forum urban renewal programme aimed at developing a 180-hectare site south of the river Besòs. Specifically, the EIB finance will go towards the creation of infrastructure and leisure facilities of particular importance in the run-up to the Barcelona Forum 2004, a multicultural global event sponsored by UNESCO.
The project includes the construction of a multipurpose plaza (the Forum Esplanade) over the existing Besòs water treatment plant and a new marina with room for 1 000 boats, along with road improvements and an underground coach park. It further comprises the rehabilitation of more than 200 000 m² of urban parks, beaches and public leisure areas and building of a rainwater and sewerage network and a solid waste pneumatic collection plant catering for 18 000 homes.
It also contains an innovative environmental component involving the creation of a series of artificial lagoons providing a permanent new habitat for a variety of migratory birds.
The project will serve to promote Barcelona's economic development while enhancing the urban environment and safeguarding the quality of life of the city's inhabitants.
The EIB was founded in 1958 under the Treaty of Rome, which created the European Economic Community, with the aim of fostering enhanced integration, balanced development and economic and social cohesion in the Member States by providing long-term financing for capital investment furthering EU objectives. Specifically, the EIB supports viable projects promoting: development of the Union's less favoured regions; construction of trans-European transport, telecoms and energy networks; the international competitiveness and integration of Europe's industry, especially SMEs; environmental protection and improvement; security of the Union's energy supply; health and education. Within certain limits, the EIB also provides financing outside the Union in pursuit of the EU's policy of cooperation with third countries.
In 2001, the EIB signed loans in Spain totaling EUR 4 559 million, including some EUR 2 700 million for infrastructure, energy and communications projects.