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European Investment Bank grants multi million euro loan to Andalucia
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THE European Investment Bank (EIB) has granted the Junta de Andalucía two loans totalling €380 million to finance key investments in the region, and the Granada metro.
EIB Vice-President Magdalena Alvarez Arza said: “These operations will reinforce the Bank’s contribution to fostering Andalusia’s economic growth by financing strategic sectors for the region.”
The first €250 million operation is designed to finance, in tandem with EU funds, priority investments for the region under Andalusia’s 2007-2013 Strategic Reference Framework. The loan will be used by the Government of Andalusia to fund the Region’s contribution corresponding to the European Regional Development Funds and Cohesion Funds.
The loan will be destined for projects in the areas of the environment, transport infrastructure, renewable energy, energy efficiency, the knowledge economy and sustainable urban development.
The construction of the first metro line for the city of Granada will receive €130 million, the second installment of a €260 million loan.
The project includes the construction of the first 15.9 km line, the acquisition of rolling stock and the building of a maintenance depot. It will link the north and south of the city via the centre and benefit some 500,000 users.
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