The European Investment Bank (EIB) and the Government of Andalusia have signed in Seville a EUR 400 million loan for financing the construction of new schools and refurbishment of existing facilities throughout Andalusia.

The bulk of the loan will go towards the construction of new schools under the “Andalusia Schools” programme. Another large chunk will finance the refurbishment and enlargement of 692 state schools spread throughout the region and accommodating some 175 000 children, along with the 2009-2011 equipment purchasing programme.

The Government of Andalusia has also launched an education improvement programme, which mainly comprises in-service teacher training courses and quality assurance audits.

The EIB is the EU’s long-term financing institution promoting European objectives. Founded in 1957, it operates in the 27 EU Member States and more than 130 other countries around the globe. Financing investment in human capital formation, including education and training, is a particularly important area of EIB activity.

The EIB is the world’s biggest lender to the Andalusia Region. Its first loan to the Government of Andalusia dates back to 1983, before Spain had even joined the EU. Since then the Government of Andalusia has received 26 EIB loans totalling EUR 1.4 billion to finance investment in areas including roads, water infrastructure, railways, housing, the environment, forestry, rural electrification and roads, tourist facilities, universities and cultural heritage.

Recently The European Investment Bank (EIB) has funded the expansion of Port of Barcelona with EUR 150 million. EIB Vice-President Carlos da Silva Costa and the Chairman of the Barcelona Port Authority, Jordi Valls, signed the funding agreement in Barcelona on December 2009.