According to the Bank’s website, the project concerns the financing of selected research and development (R&D) activities in the Region of Madrid (CAM), Spain. It finances R&D activities in the Autonomous Region of Madrid ("CAM"). It supports the implementation of Madrid's Regional Research and Innovation Plan 2022-2025 (PRICIT) and it is in line with the objectives of Horizon Europe and the new European Research Area.
The Project addresses a clearly defined market failure, as it supports early stage R&D for which the markets fail to provide adequate funds because of the uncertainty inherent in these activities and the knowledge spillovers that prevent from fully capturing the economic returns. By funding excellence in research, it has the potential to consolidate and further expand the strong innovation capacity of CAM.
EIB's participation will provide a financial benefit to CAM as it allows to distribute the cost of financing in the long term, resulting in a manageable annual debt service amount.
The EIB will include flexible drawdown terms and conditions adjusted to the investment horizon of the Project, which are highly valued by public promoters and a key differentiating feature of EIB's financing. The EIB loan could have a signalling effect, facilitating additional financing for R&D programmes from complementary sources and will reduce the funding uncertainty for R&D projects in CAM.
It will support strategic research activities performed by the network of excellence of the Institutes for Advanced Studies of Madrid (IMDEA), as well as competitive calls to finance R&D projects and attract excellent researchers to the region. It will co-finance both intangible research activities and costs of R&D equipment. The project will support research centres and researchers based in the Region of Madrid.
No contact information provided at the time of disclosure.
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