EIB Funds Modernization Of Spain's High-Speed And Conventional Railways

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 14. The European Investment bank (EIB) and Adif AV have signed a 350 euro million loan agreement to upgrade Spain's railway infrastructure, focusing on safety, sustainability, and resilience, Trend reports.

The investment, part of a broader 830 million euro project, aims to modernize both conventional and high-speed rail systems, enhancing service quality and promoting environmentally friendly transport options.

The funding will be used to improve key components such as communications systems, drainage infrastructure, and anti-vandalism measures on the high-speed network. On conventional lines, projects include removing level crossings, renewing tracks, and expanding the GSM-R communication system for safer and more efficient operations.

Pedro Marco de la Peña, President of Adif and Adif AV, highlighted the collaboration's impact:“This loan allows us to uphold the highest standards for our railway network, ensuring quality and sustainability through targeted upgrades.”

EIB Director General Jean-Christophe Laloux emphasized the strategic importance of the partnership:“A safe and reliable rail network is vital for encouraging sustainable transport, delivering economic and environmental benefits.”

The project will also prioritize regions with below-average EU incomes, fostering economic and territorial cohesion. This aligns with the EIB's role as the EU Climate Bank, supporting initiatives that address climate adaptation and resilience in railway infrastructure.

This agreement follows a 430 million euro EIB loan in 2024 to support the“Y vasca” high-speed rail project in the Basque region, part of the EIB's 13.5 billion euro investment in Spain's high-speed rail network to date.

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