EU EIB and Vitalia sign a €90 million loan agreement to improve social and health care services for the elderly in Spain #InvestEU

The European Investment Bank (EIB) and Vitalia have signed a €90 million loan to finance new facilities like residential and outpatient care centres, mainly for the elderly, in seven Spanish regions. This agreement supports Spain's public dependency care framework. The financing is backed by the InvestEU programme, which aims to trigger more than €372 billion in additional investment over the period 2021-27.

The EIB-backed expansion plan of Vitalia runs until 2027 and includes the construction of twelve new residential care centres and four assisted-living apartment buildings for dependents, as well as three neurological rehabilitation hospitals. EU support will also be used for medical equipment in Vitalia's centres. The investments will take place in the regions of Andalusia, Aragón, the Basque Country, Cantabria, Catalonia, the Community of Madrid and the Region of Murcia.

The project will improve the availability of and access to care services throughout Spain, contributing to health and social objectives. It will help to address issues like population ageing and the management of chronic diseases, adapting the current residential model to the challenges of today's society, with the levels of quality demanded by the new generations of dependent persons and their families. In addition, a significant part of the financing comes in the form of an EIB green loan to Vitalia, as the new buildings will be energy efficient, in line with the climate action and environmental sustainability objectives of the EU climate bank.

BEI, IP/23/6824, 22.12.20223
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