Brussels, 09/12/2008 (Agence Europe) - The European Investment Bank (EIB), last week, approved loans totalling €1.275 billion for projects in the Valencia region, including €925 million for schemes promoted by the Valencian government, the Generalitat Valenciana, and €350 million for the expansion of the port of Valencia.
The loans are for projects in strategic sectors, such as SMEs, education and essential infrastructure. These projects are: - the construction of a new tramline (T-2) in the city of Valencia (€250 million); - a credit line of €200 million for the Instituto Valenciano de Finanzas (IVF) for financing SME and small-scale municipal projects in the region; - the renewal of rolling stock for Valencia and Alicante's tramways and metros (€175 million); - the “Crea Escola” programme of refurbishment of primary, secondary and vocational training schools in the region (€300 million). The fifth project financed is the expansion of the port of Valencia, which was granted a €350 million loan. (O.L./transl.rt)