Investment Plan for Europe supports innovative projects in Spain

The Investment Plan for Europe supports growth and aims to create more than a million jobs throughout Europe. The initiative has exceeded the initial investment objective of EUR 315bn set when it was launched in 2015.

With the approval to date of 938 operations in total across the 28 Member States, it is expected to trigger some EUR 344bn worth of investment. Following this success, its financial capacity was expanded with the aim of mobilising EUR 500bn by mid-2020.

Across the EU 31% of the financing has been directed to SMEs, 21% to RDI, 21% to energy, 11% to digital projects, 8% to transport, 4% to social infrastructure, and 4% to the environment and energy efficiency.

Spain: among the biggest beneficiaries of the plan

Spain is one of the largest beneficiaries of the Investment Plan for Europe. Since the launch of the plan in July 2015, the EIB Group has approved 100 operations in Spain with a total financing volume of more than EUR 7.6bn, making it possible to mobilise around EUR 38.8bn in additional investment with the aim of supporting projects that promote innovation, job creation and sustainable growth.

The EC and EIB used this event in Madrid to launch a series of themed information meetings to be held in Spain to promote the European Fund for Strategic Investments (EFSI), and to explain to businesses how to access finance, which projects have already been financed in Spain and which financial instruments are available, among other things. The next meeting will take place on 25 October in Bilbao and will focus on energy and financing.

Original source: EIB
Published on 28 September 2018