BAKU, Azerbaijan, April 19. The European Investment Bank (EIB) has inked a 215 million euro loan pact with the Spanish Andalusia to jointly fund social, green, and digital ventures, Trend reports.
According to the bank, this financial injection will fuel projects that drive both environmental sustainability and digital advancement while fostering social unity in the region.
Part of the EU's operational program for cohesion policy funding 2021-2027, particularly drawing from the European Regional Development Fund (ERDF), European Social Fund Plus (ESF+), and the Just Transition Fund, the EIB loan will support various initiatives.
These include education, research, innovation, digitalization, public health, sustainable transport, energy efficiency, environmental conservation, and assistance for small and medium-sized enterprises (SMEs) and mid-caps in Andalusia.
Meanwhile, this marks the second loan deal between the EIB and the Andalusian government under the ERDF's 2021-2027 plan, following a 195 million euro loan signed in December 2022. The EIB loan aligns with the EU's five cohesion priorities, aimed at forging a greener, more digital, advanced, connected, and socially inclusive Europe, ultimately enhancing the lives of Europeans.