European Investment Bank lends $45 million to the Guipuzcoan cooperative group Ulma

The Guipuzcoana cooperative group Ulma has secured a loan from the European Investment Bank to financethe construction of the  polymeric concrete solutions architectonic.

Both organizations have reported in a statement that the agreement will also support the investments needed tolaunch a new  plant for the production of new sustainable building materials.

In addition, the European Investment Bank will support the Ulma group in improving its energy efficiency , 'contributing to the decarbonisation and sustainability strategy'. Investments will be made in the Basque Country.

According to the note, this financial agreement will serve to promote innovation, climate action and environmental sustainability, as well as the development of social infrastructure in the European Union, three of the organization's eight strategic priorities, as set out in its Strategic Path 2024-2027.

The head of the Corporate Finance Section for Spanish and Portuguese Companies, Antonio Lorenzo, has stressed  that with this operation the European Investment Bank "supports the construction industry, contributing to sustainability, innovation and competitiveness".

For his part, Iñaki Gabilondo , CEO of Ulma, has explained that this agreement "will enable us to promote sustainable and innovative projects in the construction sector that have a clear positive impact on people and the environment".