The European Investment Bank (EIB) has signed a €120m ($130m) loan with Spain’s Castilla y León Government for renovating and expanding local hospitals and public healthcare facilities.

The hospitals and facilities covered under this loan are located across the region’s five provinces, including Valladolid, Palencia, Salamanca, Aranda de Duero, and Soria. 

Using the EIB’s investment, the government will fund the construction of two primary healthcare facilities that are affiliated with the Valladolid and Salamanca University Hospitals.  

It will also facilitate the renovation and expansion of the Palencia Río Carrión Hospital, the development of the new Aranda de Duero Hospital, and support the second phase of the Soria Santa Bárbara Hospital. 

Additionally, the loan will cover the procurement of new medical equipment for the upgraded hospitals and healthcare facilities across the five regional provinces.  

Once implemented, these projects are expected to benefit approximately 830,000 residents, enhancing public healthcare services in the region. 

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This financing represents the first portion of a larger €175m package approved by the EIB for the Castilla y León government.  

It also aligns with the EIB’s strategy to finance the healthcare sector, promoting effective and resilient healthcare systems. 

In addition, EIB noted that the new projects will help in addressing the increasing healthcare demands of an ageing population for more long-term care and functional rehabilitation beds in Castilla y León and prepare the Spanish region for potential future health emergencies.  

The projects will also focus on reducing energy consumption, aligning with broader societal and environmental benefits. 

Furthermore, the latest agreement underlines EIB’s plans to support social, economic, as well as territorial cohesion.  

Castilla y León, which the EU classified as a transition region due to its gross domestic product per capita, which is between 75% and 100% of the EU average, will see all the healthcare projects executed within its territory. 

The operation further adheres to the Urban Agenda for the EU. 

Earlier this year, EIB offered a loan of €107m to a Mota-Engil-led society for the construction of Hospital de Lisboa Oriental in Portugal.