- The EIB and Renfe have signed the first €250 million tranche of this loan, which will be used to replace units at the end of their service life and put more trains into operation.
- The new trains will offer higher capacity, better accessibility for people with reduced mobility, and systems to improve interoperability, efficiency and operational safety.
- With upgraded services for passengers, the project represents a boost for sustainable public transport across Catalonia in Spain.
- The loan supports the EIB’s strategic priority of climate action and is backed by InvestEU, an EU programme designed to mobilise over €372 billion in investment by 2027.
Link to video comments on the financing from EIB Group President Nadia Calviño in Spanish. https://drive.google.com/file/d/1PRvziPiiPf8bFVtiewd-kv8MRJuzR_BA/view?usp=sharing
The European Investment Bank (EIB) and Renfe have signed a €250 million loan to finance the purchase of 101 electric trains that will expand and upgrade Catalonia’s commuter (Rodalies) and medium-distance train fleet. This loan represents the first tranche of a €500 million loan approved by the EIB, which will play a crucial role in improving passenger rail services across the region.
These new units will replace trains that have been running since 1990 and are now at the end of their service life. With the new fleet, passenger capacity will increase significantly – from around 830 passengers per train to between 900 and 1 800 passengers per train. The new fleet will include high-capacity units for suburban services in the Barcelona area and units for medium-distance or regional services.
The new trains will offer better accessibility for passengers with reduced mobility and include the European Rail Traffic Management System (ERTMS) for interoperability, efficiency and enhanced operational safety. The fleet refurbishment is expected to contribute to improve reliability and cut the number of technical incidents.
Representing a major boost for sustainable public transport in Catalonia, the project will help deliver better services for passengers across the region. It encourages a shift towards more sustainable urban and interurban travel, reducing reliance on private cars and helping to cut CO₂ emissions in major urban areas and surrounding communities.
The project will make a significant contribution to the climate action objectives set out in the EIB Group’s Strategic Roadmap for 2024-2027 and phase two of the Climate Bank Roadmap for 2026-2030. It is also backed by InvestEU, an EU programme to mobilise over €372 billion in additional investment between 2021 and 2027.
Background
EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, it finances investments that pursue EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
Around half of EIB financing in the European Union goes to cohesion regions, where per capita income is below the EU average, while almost 60% of annual EIB Group investments support climate action and environmental sustainability.
In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024, helping power the country’s green and digital transition and promote economic growth, competitiveness and better services for its people.
High-quality, up-to-date photos of EIB headquarters for media use are available here.
InvestEU
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that invest in projects, leveraging on the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.
Renfe
Renfe Operadora is one of Europe’s key railway companies. It served a record of over 537 million passengers in 2024 across all its commercial (AVE, Avlo, Alvia, Euromed and Intercity) and public services (commuter, medium distance, metre gauge and Avant). This figure is 2.7% higher than the year before (523.2 million passengers) and shows Renfe’s consolidated growth, with around 14 million new customers compared to 2023.