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Signature(s)

Amount
€ 200,000,000
Countries
Sector(s)
Spain : € 200,000,000
Transport : € 200,000,000
Signature date(s)
6/09/2023 : € 200,000,000

Summary sheet

Release date
8 May 2023
Status
Reference
Signed | 06/09/2023
20220127
Project name
Promoter - financial intermediary
METRO DE MADRID INFRASTRUCTURE UPGRADE II
METRO DE MADRID SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 200 million
EUR 520 million
Location
Sector(s)
Description
Objectives

This operation supports the rehabilitation, renewal and upgrade of part of Metro de Madrid's infrastructure network as foreseen in its Multiannual Investment Plan 2022-2025 which is aligned with Madrid Region's Sustainable Urban Mobility Strategic Plan 2013-2025

The potential schemes to be financed under this framework loan will contribute to rehabilitate and modernise the existing metro network infrastructure and upgrade metro rolling stock, as well as to improve the quality, reliability, safety, security and accessibility of metro services, thus favouring the use of public transport and promoting intermodality and modal transfer away from private cars.

Additionality and Impact

The Framework Loan will co-finance public transport schemes included in Metro de Madrid Multiannual Investment Plan 2022-2025 which are aligned with EIB Transport Lending Policy. The Project is deemed aligned with the Paris Agreement goals and principles. 


The schemes are expected to generate positive externalities for the city's residents in terms of supporting accessibility to services and employment by providing a more efficient and affordable alternative for urban mobility needs. The schemes are also expected to mitigate negative externalities of road traffic by supporting the shift of traffic to more sustainable transport modes.


EIB's participation will provide a financial benefit to Metro de Madrid as it allows distributing the cost of financing in the long term, resulting in a manageable annual debt service amount. The EIB will include flexible drawdown terms and conditions adjusted to the investment horizon of the Project, which are highly valued by public promoters and a key differentiating feature of EIB's financing. The EIB loan could have a signalling effect, facilitating additional financing from complementary sources, which will reduce the funding uncertainly for Metro de Madrid.


Environmental aspects
Procurement

The promoter's environmental management capacity to apply the relevant EU Directives will be verified during appraisal, particularly with regard to EU EIA Directive 2011/92/EU amended by 2014/52/EU, EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the proposed schemes will also be further assessed during project appraisal.

The Bank will require the promoter to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/25/EU as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Milestone
Under appraisal
Approved
Signed
3 May 2023
6 September 2023
Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - METRO DE MADRID INFRASTRUCTURE UPGRADE II
Publication Date
5 May 2023
Document language
Main Topic
Lending
Document Number
161296002
Document Focus
Environmental Information
Project Number
20220127
Sector(s)
Regions
Countries
Publicly available
Download now

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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