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€35 million loan to finance green Spanish railways by EIB. What will be the digitization process?

€35 million loan to finance green Spanish railways by EIB. What will be the digitization process?
photo: Talgo press materials/€35 million loan to finance green Spanish railways by EIB
15 / 02 / 2022

Talgo signs a €35 million loan from EIB to finance its digital transformation and other investments. Patentes Talgo is a Spanish leader in the design, manufacture, and maintenance of light high-speed trains based in Madrid. The implementation of these investments is planned between the years 2021 and 2024 and all will be made in Spain.

EIB Vice-President Ricardo Mourinho Félix said: “We are proud to finance Talgo's RDI strategy once again, demonstrating our commitment to sustainable transport. This operation again reflects the EIB’s support for helping Spain to achieve an economic recovery focused on the environment, innovation, and job creation.”

As green transportation is one of the major goals for the future of Europe EIB signs the third operation with Talgo to finance development and research for low-carbon rail vehicles. All the EIB-financed investments will be in line with the EU Sustainable and Smart Mobility Strategy and the Climate Bank Roadmap. It won’t be only about low-carbon vehicles, but also about the use of recyclable composite materials in the manufacturing process. A high-speed rail network could be the future of transportation and investments like these could bring it to reality.

Talgo Chairman Carlos Palacio added: “Talgo has been committed to rail sector innovation since its founding almost 80 years ago. We firmly believe that trains are the immediate response to the climate emergency, and EIB support will enable us to make further progress in decarbonizing the transport system.”

EIB is doing these investments based on the adoption of its Climate Bank Roadmap which intends to support climate action and environmental sustainability by 2030 with investments of €1 trillion. 50% of this should be invested by 2025. EIB Group operations in this roadmap also include goals and principles of the Paris Agreement since early 2021.