Spanish ILUNION receives €35m under the Juncker Plan

The project promotes social inclusion and aims at creating more than 200 jobs

Photo: EPA European Commission Vice President Jyrki Katainen.

The European Investment Bank (EIB) is providing Spanish social enterprise ILUNION with €35m in financing with the objective of creating jobs for people with disabilities and investing in improving energy efficiency. This is the first loan made by the EIB to a social economy enterprise in Spain and it receives the backing of the Investment Plan for Europe, the Juncker Plan. 

The agreement was signed in Brussels on Tuesday afternoon by Vice-President of the EIB, Emma Navarro, and President of ILUNION, Alberto Durán, during a ceremony attended by Commission Vice-President Jyrki Katainen, and President of the ONCE Group, Miguel Carballeda. The financing will go towards renovating the group's chain of industrial laundrettes to incorporate more energy-efficient technologies, building a new hotel in Spain while renovating its existing ones, and developing of a range of devices to improve the lives of people with any type of disability. Furthermore, the project is expected to create 200 new jobs.

"The project shows perfectly what the European Fund for Strategic Investments was created to support: it is highly innovative, promoting social inclusion, energy efficiency and job creation," Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness,said. The Commission has put forward a pillar of social rights and is committed to increasing social investment, and this project is the embodiment of this commitment. And we aim to do even more to support the social economy in the future through the InvestEU Programme." 
For her part, the Vice President of the EIB, Emma Navarro, said: "We are delighted to support a project that will have a direct impact on the generation of employment for people with disabilities and that will allow the development of new technologies that contribute to their integration. With this first loan to a social economy company in Spain, the EU bank also fulfills one of its top priorities: to facilitate investments in energy efficiency, particularly in the sectors of industry and tourism, fundamental in the economy Spanish."

As of September, the Juncker Plan has mobilised €38.7bn of new investment in Spain and €344bn across the EU. 

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