Brussels, 15/03/2010 (Agence Europe) - On Friday 12 March, the European Investment Bank granted the Madrid Region two loans of €200 million and €80 million for renovating municipal infrastructure and building a number of research centres.
The Region's president, Esperanza Aguirre, and the EIB vice-president, Carlos da Silva Costa, signed the finance contracts in Madrid. The €200 million loan will be used to upgrade municipal infrastructure in some 170 municipalities spread throughout the region as part of Madrid's Regional Investment and Service Programme comprising projects in the areas of urban renewal (including the refurbishment of public buildings), energy efficiency (including street lighting), schools, sports facilities and transport.
The programme will particularly target the UNESCO World Heritage sites of El Escorial, Alcalá de Henares and Aranjuez. The second loan of €80 million will serve to finance the construction, equipping and commissioning of eight public research centres run by the Madrid Institute for Advanced Studies, which promotes scientific research and innovation - focusing especially on their commercial applications by involving the region's businesses and universities. Part of the EIB funds will finance researchers' salaries. (O.L./transl.fl)