EU and Spanish bank join forces to combat climate change

They have also signed an agreement to finance the Goya wind energy project

Picture of the European Union flag on solar panels and a wind turbine

The European Investment Bank (EIB) has joined forces with a Spanish bank to finance projects aimed at climate change mitigation.

CaixaBank is launching its first €30 million (£26m) credit line for climate projects via the EIB’s dedicated climate action financing programme.

It has set a credit limit of €12.5 million (£11m) for SMEs and individuals and a maximum of €25 million (£22m) for mid-cap companies.

The two organisations have also signed an agreement worth €35 million (£31m) to finance the Goya wind energy project, supporting the construction of nine wind farms in Aragón with a total capacity of 303MW.

With EIB’s assistance, CaixaBank will be able to dedicate €65 million (£57m) to projects supporting the use of renewable energy, energy efficiency as well as the purchase of electric or hybrid vehicles.

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