The European Investment Bank (EIB) and the Kingdom of Spain have concluded a EUR 515 million loan agreement for financing public research, development and innovation investment in Spain in the period up to 2018. The agreement was signed in Madrid by EIB Vice-President Román Escolano and Spain’s Secretary of State for Research, Development and Innovation, Carmen Vela.
The EIB loan will help to finance RDI activities forming part of Spain’s 2013-2020 Science Technology and Innovation Strategy and meeting the EU’s priority objectives under the Horizon 2020 programme to improve innovation and research and ultimately boost the competiveness of the Spanish economy and foster job creation.
The loan will support in particular three sub-programmes included in Spain’s strategic plan: i) promotion of talent and creation of job opportunities in RDI, ii) promotion of knowledge creation and excellence, and iii) RDI oriented towards societal challenges.
Around 65% of the funds will be provided in the form of grants and 35% in the form of loans to private entities. The beneficiaries of the RDI funds will be researchers, entities and enterprises located in all regions of Spain.
This agreement follows on from a EUR 200 million loan signed on 28 July 2014 with the Industrial Technology Development Centre (CDTI) for financing RDI projects carried out by SMEs and midcaps.
Photographer: EIB ©To be defined
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