The European Investment Bank grants an 80 million Euros loan to the Madrid Regional Government to fund the IMDEA research network

11 March 2010

The European Investment Bank (EIB), through its Human Capital Division, has granted the Madrid Regional Government an 80 million Euros loan in matching funds to be used in the acquisition of equipment and the hiring of researchers at the Madrid Institute for Advanced Studies (IMDEA). The Regional government will, therefore, add to the same end another 80 million Euros of its own, raising the total to 160 million Euros. The agreement was signed on 12 March 2010 by Esperanza Aguirre, President of the Madrid Regional Government, and Carlos Da Silva Costa, Vice-president of the European Investment Bank.

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The project seeks to establish leading edge public research institutes endowed with excellent scientific and technological equipment and infrastructure, which can compete internationally in the recruitment of the best scholars and scientists, and attract external funds. The IMDEA initiative wants to have a positive impact in the companies and business enterprises in Madrid and Spain, reinforcing their research, development and innovation capabilities. The EIB funds will finance infrastructure and the salaries of researchers.