- This agreement represents the largest operation to support science and innovation carried out by the European Investment Bank
Spanish science will receive 1,200 million euros from the European Investment Bank (EIB). The Minister for the Economy, Industry and Competitiveness, Román Escolano, announced this agreement on his first visit to the Higher Council for Scientific Research (CSIC), where he stated that it is the largest project in EIB history in the field of science and the innovation.
The minister, who has met with the management team of the CSIC and has known scientific projects of interest, explained that the projects will mobilize a total investment of 2,486 million euros, of which 48% will be financed by the EIB. The funds will be used for intangible R&D activities and investments carried out by the State Research Agency, Public Research Bodies (OPIS) and Singular Scientific and Technical Infrastructures (ICTS).
The signing of this agreement (approved by the EIB's Board of Directors) will ensure a large part of the financing of the Ministry of Economy, Industry and Competitiveness for R & D & I until 2020 under very advantageous financial conditions. With this operation, the EIB would practically double the amount of investments previously granted in R & D & i in Spain (from 625 million in 2012 and 515 million in 2014).
The funds contributed by the EIB will be distributed in different areas of knowledge: Biology, Chemistry and Earth Sciences; Engineering and Technology; Farming; Physics, Mathematics and Astronomy; Social Sciences and Humanities, and Health Sciences.
This operation is part of the InnovFin program, an initiative launched by the European Investment Bank Group in cooperation with the European Commission in the framework of the EU's research and innovation program, Horizon 2020. The EIB loan will provide financing for activities R & D & i aimed at improving the competitiveness of the Spanish economy, facilitating investment in projects that contribute to achieving the objectives of the EU's scientific and innovation policy.
European Investment Bank
The EIB is the financial body of the 28 EU countries. It is financed in capital markets under advantageous conditions as a result of its high credit rating (AAA) and channels the funds to projects aimed at promoting science and innovation, modernizing infrastructures, optimizing energy supply or improving environmental conditions to a very competitive interest rate.
The European Investment Bank has financed two operations in the field of R & D & i in Spain. In 2012, it granted a sovereign loan of 625 million euros to finance R & D & i investments carried out by IPOs and ICTS in the 2012-2014 period. And in 2014, a loan of 515 million euros to finance calls for aid for R + D + i projects included in the State Plan for Scientific, Technical and Innovation Research 2013-2016.