EIB partners with Aena to provide €160M loan to upgrade Palma de Mallorca Airport

The funding will support a series of significant upgrades within the passenger terminal, focusing on optimizing both commercial and passenger management areas.

The European Investment Bank (EIB) has partnered with Aena to provide a €160 million loan aimed at enhancing the passenger terminal at Palma de Mallorca International Airport. This initiative aligns with the EIB's Transport Lending Policy and is a key component of Spain's DORA II airport regulation plan.

The funding will support a series of significant upgrades within the passenger terminal, focusing on optimizing both commercial and passenger management areas. Planned improvements include the modernization of essential services such as electricity and air conditioning, as well as technical services. Additionally, the project will see investments aimed at bolstering security measures and enhancing the baggage management system. Upgrades to fire and rescue detection and response systems and equipment are also included.

This investment is particularly noteworthy for its role in promoting cohesion within the European Union, as it targets the Balearic Islands, a cohesion region with a per capita income below the EU average. The project's location in a region that forms part of the trans-European transport network (TEN-T) underscores its significance as a project of common interest for the EU.

The EIB's commitment to fostering social and economic cohesion aims to mitigate regional disparities and stimulate investments in less developed areas. In 2023, more than €5 billion was allocated to Spain to support these objectives.

In line with its updated Transport Lending Policy, which was revised in July 2022 following the adoption of the Climate Bank Roadmap and the European Green Deal, the EIB continues to finance projects that promote a transition to greener, safer, and more accessible transport. The policy identifies investment priorities necessary to address the various challenges facing the transport sector, particularly those that contribute to the shift towards a sustainable transport model. Sustainable transport under the EIB's framework rests on four pillars: safety, accessibility, environmental friendliness, and efficiency.