The ICF plans to mobilize €400 million to build residences, day centers, and protected housing for the elderly.
The Catalan public body signs new loans worth €150 million with the EIB and the CEB
BarcelonaThe Catalan Institute of Finance (ICF), the credit institution of the Government of Catalonia, has signed a €100 million loan with the European Investment Bank (EIB) to promote the construction and rehabilitation of social infrastructure in Catalonia, it reported in a statement. This is the first tranche of an already approved €150 million loan. In addition, the ICF has also signed a €50 million loan with the Council of Europe Development Bank (CEB) for the same purpose.
With these loans, the ICF will be able to finance non-profit social organizations, foundations, local governments, and public and private companies, mobilizing up to €400 million in investment for social infrastructure projects in Catalonia. The loans will be used to finance the construction, renovation, and improvement of residences, day centers, and assisted living facilities for the elderly, people with disabilities, and other vulnerable groups throughout Catalonia, the ICF reported.
These investments are expected to enable the creation of approximately 7,500 new residential care places in Catalonia. All funded projects must comply with European sustainable construction standards, specifically the requirements for near-zero energy buildings (nZEB).
ICF CEO Vanessa Servera defined the agreement as "a new example of successful public-private cooperation" and emphasized that "the EIB and the CEB provide the financial resources, the ICF assumes social risk and management, and public entities and other stakeholders address current and future challenges."
María Serrano, head of the EIB's public sector division in Spain, commented: "The EIB continues to strengthen its commitment to social infrastructure to meet the most urgent needs of European citizens." And María Sigüenza, CEB's head of business for Spain, highlighted the collaboration with the ICF and the EIB "to create stronger communities and carry out high-impact social projects."