BAKU, Azerbaijan, December 9. The European Investment Bank (EIB) has signed a 250 million euro loan agreement with the Community of Madrid to support strategic initiatives under its Regional Investment Program for 2022–2026, Trend reports.
The funding will facilitate upgrades to essential infrastructure, including road renovations, drainage systems, green spaces, and leisure centers across various districts. It will also enable the modernisation of administrative buildings and enhance services such as waste management for multiple districts.
This loan, offered on more favourable terms than those available on the market, provides cost-efficient financing with extended disbursement periods, easing the financial burden on the regional government.
The EIB's support aligns with previous collaborations aimed at advancing Madrid's green and digital transitions. Over the years, the EIB Group – which includes the European Investment Fund (EIF) – has financed key projects in sectors such as sustainable transport, education, healthcare, and research and development.
The loan builds on the EIB's long-standing cooperation with Madrid, which has previously included agreements to fund initiatives in public transport, health, and educational infrastructure.