To coincide with the European Investment Bank's annual forum, the EIB's Board of Directors held their annual meeting away from the Bank's Luxembourg headquarters in Barcelona this morning and approved six loans in Spain totalling EUR 2.760 billion:

  • EUR 1.3 billion for AVE Madrid-Valencia. A first instalment of the loan was signed today in Barcelona in the presence of the Public Works Minister Magdalena Álvarez.
  • EUR 500 million for France Telecom España for the roll-out of a broadband telecoms network combining fixed and mobile telephone services with the aim of consolidating the company's position on the Spanish market and increasing competition between operators.
  • A EUR 500 million credit line for Instituto de Crédito Oficial (ICO) for financing projects mounted by SMEs.
  • EUR 300 million for ENDESA for upgrading Spain's power grid and improving the reliability of supply.
  • A EUR 100 million credit line for Institut Català de Finances (ICF) for financing the small and medium-scale projects of SMEs and public authorities and larger-scale industrial projects in the R&D, energy and environment sectors. This loan was signed this morning.
  • EUR 60 million for Cementos Molins S.A. for modernising its cement plant at Sant Vicenç dels Horts, where a state-of-the-art production line will replace the three existing production lines. The project will not involve a capacity increase and its main aim is to generate substantial energy savings and reduce pollutant emissions.

The European Investment Bank is the EU's long-term financing institution promoting European objectives. Founded in 1957, it operates in the 27 EU Member States and more than 130 other countries worldwide.