The funding is part of an operation involving other organizations and banks and will be used to pay for 42 trains on lines L1 and L3 of the Barcelona metro. The objective is to reduce environmental impact and extend the use of more sustainable alternative energies.
Barcelona, 7 October 2019. The ICF has co-financed the partial renewal of the TMB metro fleet with a loan of 50 million euros. This funding will allow the Catalan company to acquire a total of 42 trains to replace some of those currently in use on lines L1 and L3 of the Barcelona metro.
The renovation of the fleet will affect the oldest trains on the network, which have been in use for between 32 and 35 years. One of the main objectives of the renovation process is to promote the use of public transport, reducing environmental impact and supporting more sustainable alternative energies, such as electricity.
The ICF funding is part of an operation involving other bodies such as the European Investment Bank (EIB) and the Spanish Instituto de Crédito Oficial (ICO), as well as other private banks. The metropolitan area's public transport company has obtained a total of €268 million to invest in these improvements.
In connection with this operation, Josep-Ramón Sanromà, CEO of the ICF, explained that the ICF "promotes initiatives of this kind, aware that they are important for attaining the 17 sustainable development goals (SDG) set by the United Nations and for the Government of Catalonia's commitments under the National Plan for the Implementation of the 2030 UN Agenda in Catalonia". Sanromà added that "the ICF's commitment to promoting sustainable investments that generate a positive impact on the economy and society is intrinsic to our DNA".
With this aim, the ICF launched the ICF Ecoverda loans a year ago to promote sustainable investments which are respectful of the environment. These loans are used to promote green economy and circular economy projects and those with a positive energy impact, such as that to be implemented by TMB.
About ICF
The ICF is the public financial entity of Catalonia, whose main mission is to promote financing for the business community in Catalonia in order to contribute to growth, innovation and the sustainability of the Catalan economy. The ICF acts as a complement to the private sector by offering a wide range of financing solutions focusing on loans, guarantees and venture capital. Since 2014, it has been a member of the European Associations Public Banks (EAPB), which groups a large proportion of the banks and public financial entities operating in Europe.