BAKU, Azerbaijan, April 5. The European Investment Bank (EIB) has signed a 234 million euro loan agreement with the government of Aragón, Spain, to support projects aimed at advancing the region’s green and digital transition, Trend reports.
This loan is the first installment of a 260-million-euro loan package approved by the EIB.
The funding will support various initiatives, including the transfer of advanced technologies to businesses in Aragón, the One Health Teruel health biotechnology project, local waste reuse and land decontamination, and improvements in energy efficiency for public healthcare and educational facilities. Additionally, the loan will assist social employment and active inclusion efforts in rural areas, particularly those at risk of depopulation.
This agreement falls under the EU regional development and cohesion funds operational programme for 2021-2027 and will utilize resources from the European Regional Development Fund (ERDF), the European Social Fund Plus (ESF+), and the Just Transition Fund.
The EU Just Transition Fund focuses on helping regions with socioeconomic challenges in achieving climate neutrality. Specifically, in Teruel, the funding will support projects in green industrial transformation, sustainable mobility, energy efficiency, renewable energy, and various other initiatives to boost economic and social development.
The EIB’s financing commitment aligns with its broader strategic priorities of promoting climate action and fostering economic, social, and territorial cohesion.