YOUTH EMPLOYMENT & EDUCATION INTERMEDIATED LOAN

Promoter – Financial Intermediary

BANCO SANTANDER SA

Location

• Spain

Description

Comprehensive intermediated education sector Programme Loan to boost access to education and youth employment in Spain and to improve infrastructure, teaching and research capabilities at selected Spanish universities.

Objectives

The selected sub-projects under this programme loan will support 3 key objectives. (i) promotion of Higher Education (HE) attainments; (ii) increase in employment opportunities for Spanish youth; (iii) catalyse the involvement of private sector funding in HE.

Sector(s)

• Credit lines
• Education

Proposed EIB finance (Approximate amount)

EUR 200 million

Total cost (Approximate amount)

Not applicable.

Environmental aspects

Due to the largely immaterial nature of the project (student loans, mobility), most of the sub-projects do not fall under any of the annexes of the Directive 2011/92/EU. Some activities/sub-projects (for instance, in the case of universities’ infrastructure) may comprise capital investment in new research infrastructure. The Bank’s services will verify during appraisal what type of environmental assessment (if any) will be required for any given component of the project as well as any potential impact on nature conservation sites.
As the project will contribute to improved access to Higher Education for those students, who otherwise would not have the financial means, this operation is likely to generate positive social effects.

Procurement

The promoter is a private company not operating in the utilities sector and not having the status of a contracting authority. It is not covered by EU Directives on procurement.

Status

Signed - 4/11/2013