Spain: EIB and Aragón regional government sign €234 million loan financing projects to back the green and digital transition, small businesses, innovation, jobs and rural development

This article is published in association with European Investment Bank.

• The Aragón regional government will use this loan to co-finance investments under European regional development funds.
• The investments will go to various projects to offer more public services, promote the dual green and digital transition, innovation, business competitiveness, employability and economic development in rural areas affected by depopulation.
• The loan will make it possible to finance specific projects for the province of Teruel with a focus on the energy transition and environmental sustainability, entrepreneurship, social infrastructure and more.
• The agreement will make a significant contribution to climate action and economic, social and territorial cohesion, two of the EIB Group’s strategic priorities.

The European Investment Bank (EIB) has signed a €234 million loan with the government of the Spanish region of Aragón to co-finance investments promoting the dual green and digital transition, boosting the competitiveness of local industry, helping to provide better public services and supporting economic development in rural areas at risk of depopulation. This is the first tranche of a loan totalling €260 million approved by the EIB.

The loan will co-finance diverse projects including transferring knowledge in advanced technologies to businesses in Aragón; the One Health Teruel health biotechnology project; the reuse of local waste and decontamination of land affected by lindane use; improved energy efficiency in public healthcare and educational buildings in Aragón; and local social employment and active inclusion initiatives.

The finance contract falls under the EU regional development and cohesion funds operational programme for 2021-2027 and will channel financing from the European Regional Development Fund (ERDF), the European Social Fund Plus (ESF+) and the Just Transition Fund.

The EU Just Transition Fund aims to support regions facing serious socioeconomic challenges in transitioning to climate neutrality. Here, its financing will focus on the province of Teruel, funding projects in green industrial transformation, sustainable mobility, the circular economy, energy efficiency, renewable energy (including self-consumption, energy storage and green hydrogen), support for small and medium-sized enterprises (SMEs) and entrepreneurs, research, development and innovation (RDI), digitalisation, environmental restoration and conservation, sustainable tourism and social infrastructure, among other things.

This agreement highlights the commitment of the European Investment Bank Group (EIB Group) to climate action and economic, social and territorial cohesion, two of the eight core priorities outlined in the Group’s Strategic Roadmap for 2024-2027.

Background information  

EIB 

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

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