EIB loan for railways in Spain
Monday 25 June 2012
On 22 June, the European Investment Bank (EIB) granted a €500 million loan to Spanish rail company Administration des infrastructuers ferroviaires espanole (ADIF) to finance the construction of the Y Vasca high-speed rail line. The EIB will bring a total €1 billion loan for the project. The loan will help to finance the construction of 140 km of rail line linking the Basque country’s three capital cities of Vitoria, Bilbao and San Sebastián. The project also includes the construction of junctions with the conventional line and access to the existing stations of Vitoria, Bilbao-Obando and San Sebastián-Atotxa. The project is part of the priority Trans-European Transport Network (TEN-T) that will connect the Iberian peninsula to the rest of Europe, which means the project will also be supported by EU funding.