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    Reference: 20200150
    Release date: 22 April 2020

    Promoter – Financial Intermediary




    This Programme Loan is dedicated to finance investments in the context of the Spanish and Portuguese public authorities' emergency response to the COVID-19 pandemic as well as mid-term and long-term investments in public hospitals and other healthcare infrastructure across Spain and Portugal aiming at strengthen the public healthcare systems.


    The aim is to address the urgent COVID-19 crisis and the healthcare investment gap in Spain and Portugal, the project responds to the EIB's main Infrastructure policy objective under the subheading of "Integrated territorial development". Moreover, the project is partially located in cohesion regions of both Spain and Portugal. The project is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest. It is also guided by the principles of the European Commission's common European response to the outbreak of COVID-19.


    • Health - Human health and social work activities

    Proposed EIB finance (Approximate amount)

    EUR 750 million

    Total cost (Approximate amount)

    EUR 1200 million

    Environmental aspects

    The project comprises the construction and equipping of medical facilities. Hospitals are not specifically mentioned in the Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU, though the project is covered by Annex II of the Directive in relation to urban development. The EIB services will verify during appraisal the screening decision of the competent authority. In line with Directive 2018/844 amending Directive 2010/31/EU on the energy performance of buildings and Directive 2012/27/EU on energy efficiency, the new and rehabilitated buildings will have to meet at least the relevant national targets on energy efficiency. The design energy performance of the hospital and any specific related targets to be met will be verified during appraisal. It is expected that the project will bring wider benefits to the community as healthcare is an element of social cohesion and economic development. The promoter has to take into account the circular economy principles during the development and future operation of the project.


    The promoter has to ensure that contracts for the implementation of the project have been and will be tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/24/EU, as well as Directive 89/665/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.


    Approved - 25/05/2020


    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).

    Related tags

    Portugal Spain Health