EIB Offers $163.35 Million Loan for Malaga Metro Line 2

The European Investment Bank (EIB) and the Junta de Andalucía (Andalusia’s regional government) on Wednesday signed a $163.35 million loan to finance the extension of Málaga Metro line 2 between Guadalmedina and the future station of Hospital Civil de Málaga in Spain.

The operation will promote the use of public transport over private cars, and will help cut journey times, traffic congestion and atmospheric pollution in the city. Malaga Metro is a transport network for the City of Malaga This network joins the various points within the city and has connections to the other Malaga Area Metropolitan Transport Consortium transport networks.

Apart from the latest funding in Spain, the EIB Group signed $13.39 billion of new financing for more than 100 high-impact projects in 2024, helping power the country’s green and digital transition and promote economic growth, competitiveness and better services for its people.

The project includes the construction of 1.8 km of underground infrastructure and three new metro stations. Once operational, the extension of the line 2 is expected to make an additional 4.7 million journeys possible across the city’s metro network.

The operation is in line with the EIB’s sustainable transport lending policy and will make a significant contribution to climate action and environmental sustainability, which is one of its strategic priorities for 2024-2027.

Boosting Economic and Social Cohesion

This will also consolidate EIB’s position as the EU climate bank. All the investments will take place in Andalusia, a Spanish region where the income per capita is below the EU average. This means that the operation will also contribute to bolstering the economic, social and territorial cohesion of the European Union.

The EIB is a long-term lending institution of the European Union, owned by its member states. Built around eight core priorities, EIB will finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bio-economy, social infrastructure, high-impact investments outside the European Union, and the capital markets union. 

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly $96.92 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. 

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in its Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.