- The European entity reaches an agreement with the Ministry of Economy and Competitiveness to grant credits with very advantageous conditions until 2014
- It will finance 50% of the contributions of the Secretary of State for R + D + i to scientific organizations and facilities.
The Ministry of Economy and Competitiveness and the European Investment Bank (EIB) reached an agreement yesterday for the co-financing of Spanish science and technology. The European organism will finance with 625 million euros 46% of all the contributions of the Secretary of State for R & D & I to Public Research Organizations (OPIS) and Unique Scientific and Technological Infrastructures (ICTS) with very advantageous conditions during this year (includes contributions for all 2012) and until 2014.
The agreement establishes that the EIB finances 50% of the ‘Infrastructure Project’, which with a total budget of 1,258 million euros comprises different actions in OPIS and ICTS. The financing conditions are translated into a loan articulated with the Treasury, the characteristics of which will be fixed at the time of disbursement by the EIB.
The ‘Infrastructure Project’ covers 88% of the total transfers from the Secretary of State for R + D + i to OPIS and 100% of the contributions to the main ICTS for the period 2012-2014. Thus, this project includes the 'Physical Science and Technology' area of the Higher Council for Scientific Research (CSIC) and the rest of OPIS, with the exception of the nuclear energy and radioactive waste part of the Center for Energy, Environmental and Environmental Research. Technological (CIEMAT) and the public health part of the Carlos III Health Institute (ISCIII).
This agreement ensures the financing of the Ministry of Economy and Competitiveness to the OPIS and ICTS for three years under conditions for the General Administration of the State much more advantageous than through the issuance of public debt.
Before the final approval to co-finance the Infrastructure Project, the EIB technical team visited some OPIS (CSIC, ISCIII, CIEMAT and IEO) and some ICTS (RedIRIS, CSIC White Room, National Center for Supercomputing, Alba Synchrotron and the System of Coastal Observation of the Balearic Islands) with a positive result.
European Investment Bank
The EIB is the financial body of the 27 countries of the European Union. Borrow money from capital markets to finance projects aimed at improving infrastructure, energy supply or environmental conditions at a low interest rate.