(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 20. The European Investment Bank (EIB) has signed a €90 million loan agreement with the regional government of Extremadura (Junta de Extremadura) to co-finance agricultural projects aimed at boosting competitiveness and sustainability in the Spanish region, Trend reports via the EIB.

Under the agreement, the EIB financing will be combined with regional co-funding to support a wide range of initiatives, including investments in basic rural infrastructure, natural disaster prevention and recovery, and the protection and sustainable management of natural resources. Funding will also enable farmers to adopt more energy-efficient machinery, improve soil and water conservation, support climate change mitigation and adaptation measures, strengthen forest ecosystem protection, and promote knowledge sharing on agricultural best practices.

The initiative underscores the European Investment Bank Group's commitment to economic, social and territorial cohesion - a key priority of its 2024–2027 strategic roadmap - along with climate action, environmental sustainability, and support for the bioeconomy and agriculture. All projects financed under this loan will be carried out in Extremadura, a region designated by the European Union as a cohesion region.

The new agreement builds on previous cooperation between the EIB and the Junta de Extremadura. The most recent prior arrangement was a €225 million co-financing agreement signed in 2023 under the European Regional Development Fund (ERDF) and the European Social Fund Plus (ESF+).

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