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    Reference: 20200697
    Release date: 22 February 2023

    Promoter – Financial Intermediary




    The Programme Loan aimed at financing urban infrastructure investments in Spain.


    The project will support the implementation of multi-annual investment programmes framed within a defined municipal policy framework, demonstrating a planning-led approach and in support of integrated urban development strategies. The underlying operations are expected to support urban regeneration and renewal and infrastructure modernisation. This will be achieved through investments in urban development, energy efficiency, climate adaptation, sustainable urban transport, culture, sport facilities, green open spaces and other urban infrastructures. The investments will be implemented across Spain, including less developed regions. The expected pipeline of projects include the cities of Sevilla, Malaga, Logroño, Fuenlabrada and Barcelona.


    Proposed EIB finance (Approximate amount)

    EUR 400 million

    Total cost (Approximate amount)

    EUR 800 million

    Environmental aspects

    During the appraisal, the EIB will assess the compliance with the environmental impact assessment (EIA) Directive 2014/52/EU (amending the EIA Directive 2011/92/EU), the Strategic Environmental Assessment (SEA) Directive 2001/42/EC, the Water Framework Directive (WFD) 2000/60/EC, the EU Habitats Directive 92/43/EEC and the EU Birds Directive 2009/147/EC). An EIA may be required for some of the underlying sub-operations or some of the individual schemes; this will be verified during the appraisal of the sub-operations. The status of any environmental studies and public consultations related to the investments as well as the alignment of energy efficiency requirements with the EU Directive on the Energy Performance of Buildings (EPBD, 2018/844/EU) will also be further assessed during project appraisal. In case the Bank finances the purchase of new rolling stock (e.g. buses, tramways, etc.) to replace old rolling stock units, the promoters will have to ensure compliance with the applicable standards when dismantling or scrapping the rolling stock being removed from service.


    The Promoters of the individual sub-operations under the programme are not known yet, but are expected to be Sub Sovereign Public Authorities (SSPAs) and Public Sector Entities (PSEs). Corporate promoters, although unlikely, are not excluded. It is foreseen that the majority of the promoters will be municipal authorities and public utilities falling under the EU Public Procurement legislation. For the promoters falling under such legal framework, the Bank will require them to ensure that contracts for the implementation of the sub-operations have been and will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/25/EU, 2014/24/EU, Directive 2014/23/EU as well as Directive 89/665/EEC and 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.


    Approved - 14/09/2022

    Under appraisal
    14 September 2022


    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

    Spain Urban development