12.11.2014
Artikel Nummer: 8157
EIB cash to refurbish Spain’s road network
The European Investment Bank (EIB) has granted a EUR 350 million loan to Spain’s public works ministry to finance improvements to the country’s roads. The funds will mainly be spent on upgrading seven highway sections and building twelve new roads with an overall length of 350 km.
The schemes to be financed are mostly located in cohesion areas and form part of the trans-European transport networks (TEN-T). The upgrades financed by the loan will be carried out in the framework of Spain’s 2012-2024 infrastructure, transport and housing plan and will help to increase road capacity, improve safety and reduce journey times. The work is scheduled for completion in 2018. (ben)