The construction of new spaces in the Community of Madrid will continue to rise in recent times. From Madrid Nuevo Norte, to health centers such as the Hospital de La Paz and different primary care centers. This time, the president of the community, Isabel Diaz Ayuso, has obtained a loan from the European Investment Bank (EIB) for the construction and renovation of public educational centers. It is a debt of 250 million euros that will be allocated to educational infrastructures.
The pact, signed on March 21, aims to improve the quality of public education centers in Madrid and seeks to cover the needs of students. As indicated in the official publication of the European bank, through this project and the construction of new buildings and renovation of existing ones, “they will help to provide high-quality learning and teaching spaces that meet the highest reliability and thermal comfort requirements.”
The specific schools to be reformed or the specific sectors in which constructions will be made are not specifically mentioned and it is only indicated that the sites are part of an approved land use development plan and that none of the subprojects will be within Nature spaces, 2000
As reported in the EIB loan brochure, this project is considered consistent with the lines of the Paris Agreement, which seeks low-carbon and climate-resilient development, and is aligned with the policies established in the roadmap. Climate Bank 2021-2025 and the EU taxonomy. The plan saw the installation of renewable energy appliances and they report that they expect the quality of the buildings to increase, improve their climate resilience and energy performance. Although there is no start date for the work, the EIB considers that it is a financeable initiative for them.
Other EIB loans
It is not the first time that the Community of Madrid pulls debt with the European Investment Bank. In December of last year, the entity granted the CAM a loan of 500 million euros to finance the Hospital de la Paz project. The money was granted for the construction and equipment of this megaproject promoted by Ayuso and amounts are also included for the rehabilitation and expansion of the Carlos III Hospital and the Cantoblanco Hospital, together with three primary care centers- José Marvá, Colmenar Viejo and Penagrande. . For this, the EIB has put pressure on the Madrid president and has included flexible terms and conditions for its realization.
A few days later, another 250 million loan was obtained for ambulatory medical centers. This opened the construction and rehabilitation of six medium and long-stay hospitals, 11 primary care centers, the expansion and modernization of clinical departments of five hospitals and clinics in the capital. With this, the European banking entity hopes to continue with its environmental objectives and “make public health systems more profitable, equitable and sustainable”.
They have also agreed to finance Metro Line 11 with an investment of 372 million. The plan includes the first stretch from the Conde de Casal station to Plaza Elíptica with two new stations, as well as three other interconnection lines. On the other hand, it has lent 182 million to finance selected research and development (R&D) activities. In the vast majority, it focuses on environmental projects and that these are aligned with the objectives of the European Union.