The European Investment Bank, EU’s long-term financing institution, has granted a €100m ($136m) loan to the Spanish region of Extremadura to help upgrade its road network.

The money will be used towards the region’s plan to upgrade a major part of the road network, including 13 sections of existing road totalling 204km, aimed at better transportation for goods and people.

Work includes building 13km of new bypasses in Navalvillar de Pela, Villar del Rey, Monterrubio de la Serena, Segura de León and Zafra.

The project is scheduled to finish in December 2013.