Loan to support Granada metro construction

The Government of Andalusia has been granted a €130 million loan to fund the construction of Granada’s first light rail line.

The loan is the second tranche of a €260 million loan from the European Investment Bank (EIB) which is supporting the construction of the 16-kilometre Granada metro line, maintenance depot and the procurement of new rolling stock.

EIB vice president Magdalena Álvarez Arza and Andalusia’s Finance Minister María Jesús Montero confirmed the loan agreement in Luxembourg last month.

The north-south line, which includes 26 stops, will be mostly above-ground apart from a 2.8-kilometre underground section through Camino de Ronda and Avenida de America.

As well as the €130 million loan, the EIB announced the approval of a second €250 million loan to partly fund ‘priority investments’ under Andalusia’s 2007-2013 Strategic Reference Framework.