The European Investment Bank (EIB) is providing a EUR 185 million loan to Acciona SA in support of its research, development and innovation (RDI) programme. EIB Vice-President Carlos da Silva Costa and Acciona’s Finance Director Juan Gallardo Cruces signed the finance contract in Madrid this morning.

Speaking at the signing ceremony, the EIB Vice-President stressed that “Acciona has gone down the road of innovation to maintain its competitiveness and position itself in the market as a provider of high value-added solutions with a strong RDI content. This project is therefore in total harmony with the policies and objectives of the European Union and the European Investment Bank itself. R&D investment boosts productivity and is the route to a more competitive European industry, ultimately leading to more wealth creation and more jobs. And a further highly important point is that this project will contribute to sustained and sustainable economic growth based on the efficient use of resources.”

The EIB will be financing a number of actions under Acciona’s wide-ranging RDI investment programme in the fields of i) renewable energies;  ii) environmentally sustainable engineering applied to construction materials and processes; iii) water treatment and desalination. The bulk of the planned activities will be carried out at Acciona’s RDI facilities in Madrid, Barcelona and Pamplona.

The European Investment Bank (EIB) is the European Union’s financing institution promoting EU objectives. Created in 1958, it operates in the 27 EU Member States and more than 130 other countries around the globe.

The EIB is heavily involved in financing investment aimed at enhancing the competitiveness of the European economy and provides backing for RDI, education and training, the spread of new technologies and the development of information and communication technologies. In accordance with the decisions of the Lisbon European Council in 2000, the Bank focuses on promoting the knowledge economy and has financed such investment in the 27 EU Member States to the tune of EUR 83.3 billion over the past ten years.