The Basque Government’s Department of Finance has opened an international roadshow in Milan to present its sustainable financing strategy and upcoming debt issues to leading European institutional investors. The tour aims to deepen relationships with the international investment community while linking future bond issues to concrete social and environmental policies in Euskadi.
Heading the delegation, Finance Minister Noël d’Anjou outlined Euskadi’s long-term commitment to sustainable finance, stressing that green and social bond issuances are now a structural pillar of the region’s budgetary policy, rather than a series of one-off operations. He underlined that the 2026 budget is designed to drive economic growth, social cohesion and ecological transition, and that sustainable financing allows the Government to directly connect market funding with projects that generate tangible benefits for citizens.
Throughout the day in Milan, the delegation held meetings with representatives of Euromobiliare AM, Intesa, Unicredit and Eurizon Capital, offering them a comprehensive view of Euskadi’s economic situation, financial strategy and sustainability agenda. D’Anjou conveyed a message of stability, predictability and institutional credibility, arguing that rigorous planning and prudent public financial management enable the Basque Country to retain market confidence even in a complex global environment.
Vice-Minister for Financial Policy and Budgets José Corchón presented the macroeconomic context, highlighting the strength of the Basque productive model, including high GDP per capita, the weight of advanced industry, robust employment and a long-standing commitment to innovation and internationalisation. These fundamentals, he said, provide a solid base for budgetary and financial planning and allow the Government to approach its financing needs from a position of solvency and with a stable tax base.
Director of Financial Policy Arantza Larrauri detailed the overall debt strategy, focusing on the diversification of instruments and maturities to maintain a balanced redemption profile and competitive financing costs. She also presented the Basque Government’s Sustainable Bond Framework, which defines eligible projects in areas such as affordable housing, education, health, employment and inclusion, as well as renewable energy, energy efficiency, clean transport, sustainable water management and biodiversity protection, all subject to annual allocation and impact reports reviewed by an independent external party.
Closing the meetings, D’Anjou stressed that financial sustainability is inseparable from social and environmental sustainability, and that future issuances are designed not only to optimise funding conditions but also to reinforce coherence between budget policy and the country’s strategic goals. The roadshow will continue in Frankfurt, where the Basque Government will hold further meetings with institutional investors to complete this round of presentations and consolidate Euskadi’s positioning in Europe’s sustainable finance markets.
