Investment & Fund Management

The EIB Group, comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), executed a significant investment of €121 million in a synthetic securitisation operation with Santander. This strategic partnership aims to mobilise approximately €163 million to promote green loans specifically targeted at energy efficiency projects within Spain's residential real estate market. The initiative addresses the pressing need for sustainable development in the sector, focusing on the construction of new near zero-emission buildings and the renovation of existing properties to meet stringent sustainability standards.

The tailored solution provided through this operation allows Santander to offer new green and sustainable mortgages to individuals who are investing in energy-efficient renovations or constructions. The EIB Group's investment is structured to provide capital relief to Santander on a portfolio of residential mortgages, thereby enhancing the bank's capacity to finance energy efficiency investments. The EIB's commitment of around €76 million and the EIF's €45 million collectively enable Santander to finance new energy efficiency investments at a scale 1.34 times the size of the EIB Group guarantee.

As a result of this operation, projects financed will not only improve energy efficiency but also significantly reduce CO2 emissions, contributing to climate change mitigation efforts. This initiative aligns with the EIB Group's priorities, which include climate action and the development of the securitisation market in Europe, thereby fostering a more sustainable and resilient real estate sector in Spain.