IMMUNOLOGY RESEARCH CENTRE

Promoter – Financial Intermediary

FUNDACION BANCARIA CAIXA D'ESTALVIS I PENSIONS DE BARCELONA LA CAIXA

Location

• Spain

Description

The project will finance the new immunology research centre established by “la Caixa” Foundation in Madrid. The new Institute will be equipped with state-of-the-art facilities on premises of over 20 000 m2, designed to accommodate a team of more than 500, including scientists, technicians and administrators.

Additionality and Impact

The Project supports the Bank's primary objective "Innovation, digital and human capital". It aims to create facilities dedicated to medical research, thereby contributing to the relevant European, national and regional policies in the respective areas, including the European Research Area. The Project supports medical research, including basic medical research, which, due to their nature as public goods, generate externalities to the benefit of society and the broader economy. Strategic investments in the medical research sector have been shown to yield long-term health benefits, as well as economic and social returns on investment that far exceed potential commercial returns. Establishing the new medical research centre, located in modern, fit-for-purpose premises, furnished with up-to-date equipment, organized in the way ensuring its optimal use, and operated by the Promoter experienced in establishing medical research centres and staffed by skilled researchers, should result in a number of benefits for the society, both locally and globally. Among other, the new institute will enable to retain and attract skilled researchers to Europe. Outputs of the Project, including new patents and spin offs, will add to an increase of EU's innovation and competitiveness and strengthening the EU economy. Finally, new research premises in the vital knowledge domain of immunology will help addressing major global health problems. EIB's involvement diversifies the Borrower's financing sources with customized terms. It also provides a signalling effect on the quality of the Project.  

Objectives

The aim of the new biomedical research centre is to promote translational research in immunology. The centre will have a clear mission to collaborate with the scientific community and is intended to increase innovation and competitiveness in the healthcare sector, which is strategic for the European Union. The renovation of the foundation office building aims at improving its energy performance, in line with the EIB's climate action and environmental sustainability objectives.

Sector(s)

• Services - Professional, scientific and technical activities

Proposed EIB finance (Approximate amount)

EUR 80 million

Total cost (Approximate amount)

EUR 110 million

Environmental aspects

Directive 2011/92/EU amended by 2014/52/EU on Environmental Impact Assessment (EIA) does not specifically cover re educational activities, leaving it at the discretion of the responsible competent authorities to request an EIA on the basis of the location and scale of the works concerned. However, research facilities may fall under Annex II of the Directive with respect to Urban Development. The Bank's services will verify during appraisal whether an EIA is required by the competent authority. The office building will be required to at least meet the energy efficiency targets as defined in Directive 2010/31/EU on the energy performance of buildings and Directive 2012/27/EU on energy efficiency. The Project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation. Social and environmental aspects as well as any aspects related to historical and cultural heritage will be verified during the appraisal.

Procurement

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the European Commission will be duly informed, which will require the promoter to apply such rules.

Status

Signed - 26/09/2024