Municipality of Madrid on improving services for vulnerable people
The European Investment Advisory Hub, funded by the European Commission and the European Investment Bank (EIB), will advise the Municipality of Madrid on a project aiming to improve assistance for vulnerable people residing in temporary accommodation. EIB experts will provide the Municipality of Madrid with a feasibility study on the launch of a social impact bond, an innovative financing solution aimed at enabling vulnerable groups to become independent.
Executive Vice President Valdis Dombrovskis said:“The Investment Plan’s Advisory Hub has proven to be a key tool in getting investment projects off the ground. Thanks to the technical assistance it provides, the Municipality of Madrid will be able to give homeless people the helping hand they need to access new opportunities and change their situation. The European Commission is proud to support this social project which has the potential to make an enormous difference to the lives of many.”
More information can be found in the press release.