Yesterday, 23 November, the European Investment Bank announced some important news regarding the construction of the European Atlantic Corridor, which is meant to connect the Iberian Peninsula to Central Europe via continuous transportation infrastructure. The Bank will provide 890 million euros for building a high-speed railway crossing Extremadura, an autonomous region on the border with Portugal, and thus filling the gap necessary for a speed connection between Lisbon and Madrid.
This project will have important environmental and economic benefits for the borderland region
The news was reported following an agreement between the Spanish high-speed railway operator Adif Alta Velocidad and EIB, which provided for a loan of 300 million euros. This will be the first tranche of the overall subsidy, which also includes grants from the European Regional Development Fund.
The projected section traverses all of Extremadura, from Talayuela to Badajoz, connecting along its route also the communities of Navalmoral de la Mata, Plasencia, Cáceres and Mérida, for a total length of 282 kilometres. And what about the benefits of this infrastructural undertaking?
Its completion is naturally expected to significantly cut down on transit times both for passengers and for goods between the Spanish capital, the border and Lisbon. In absolute numbers, this means better service to 2.6 million passengers per year.
In economic terms, this news comes at the right time given the crisis caused by the COVID pandemic. It is expected that the construction stage of the project will create some 17 000 jobs.
And last but not least, the increase in reliable railway transport will contribute to reducing the harmful CO2 emissions into the atmosphere creating a sustainable alternative around economic growth.
This last point is generally in line with EIB’s ambition to preferentially support initiatives which will have a positive impact on climate change.
Source: TheMayor.EU
