- This agreement represents the largest operation to support science and innovation carried out by the European Investment Bank
Spanish science will receive 1.2 billion euros from the European Investment Bank (EIB). The Minister of Economy, Industry and Competitiveness, Román Escolano, has announced this agreement on his first visit to the Higher Council for Scientific Research (CSIC), where he has stated that it is the largest project in the history of the EIB in the field of science and the innovation.
The minister, who has met with the CSIC management team and has known scientific projects of interest, has 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 activities and investments in R & D & I carried out by the State Research Agency, Public Research Organizations (OPIS) and Singular Scientific and Technical Infrastructures (ICTS).
The signing of this agreement (approved by the EIB Board of Directors) will ensure a large part of the financing of the Ministry of Economy, Industry and Competitiveness to R & D & I until 2020 under very advantageous financial conditions. With this operation, the EIB would almost double the amount of investments previously granted in terms of R & D & I in Spain (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 within the framework of the EU 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 scientific and innovation policy of the EU.
European Investment Bank
The EIB is the financial body of the 28 EU countries. It is financed in the 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 infrastructure, optimizing energy supply or improving environmental conditions. A very competitive interest rate.
The European Investment Bank has financed two operations in the field of R&D in Spain. In 2012, it granted a sovereign loan of 625 million euros to finance R & D & I investments carried out by OPIs and ICTS in the period 2012-2014. And in 2014, a loan for 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.
