EIB provides EUR 1.2bn to support science in Spain

The European Investment Bank (EIB) has provided its biggest research, development and innovation (RDI) loan to date to support science in Spain. The EUR 1.2bn in funds will finance the activities of public research centres and institutions in the country until 2020.

The loan will help to support investments in several areas of science and technology, especially those more closely linked with the Spanish industry, with the aim of promoting the development of patents and new areas of research.

The EIB is providing these funds under InnovFin Science, a joint initiative of the EIB Group and the European Commission designed specifically to support RDI in Europe and backed by the EU’s research and innovation programme Horizon 2020.

The projects financed by the EU under this EIB loan will mobilise total investment of EUR 2.486bn and will have a positive effect on attracting and retaining research talent in Spain.

EIB Vice-President Emma Navarro said: “With this agreement, the EIB is highlighting the importance of science and research to the future of Spain and Europe. By supporting Spanish public research organisations and centres, the EU bank is investing in innovation, promoting the development of knowledge and new areas of research that will be beneficial to all. We are delighted to take part in a project making a major contribution to current and future science in Spain.”

This is the EIB’s third operation with the Spanish Government to fund scientific projects in Spain. The first, signed in 2013, made it possible to provide EUR 625 million for RDI, while the second agreement granted EUR 515 million in 2014.

Original source: EIB
Published on 24 January 2019