THE European Investment Bank (EIB) has approved a €465 million loan to support upgrades to the Spanish road network.
The funds will finance various infrastructure works including the construction of bypasses and access roads and the upgrading and widening of national roads.
The schemes financed by this loan come under Spain’s 2012 to 2014 Infrastructure, Transport & Housing Plan. Some of the roads concerned also form part of the Trans-European Transport Network (TEN-T) and will therefore also receive financing from the EU Cohesion and Structural Funds.
The EU contribution, including the EIB loan, will cover around 59% of the total investment.