Investment & Fund Management
The European Investment
Full Credential Description
The European Investment Fund (EIF) and Findomestic Banca have collaborated on a significant initiative aimed at enhancing energy efficiency for Italian households. This partnership addresses the niche issue of financing barriers faced by families seeking to invest in energy-efficient technologies and renewable energy solutions. The EIF's synthetic securitisation operation involves a mezzanine guarantee of approximately 94 million, supported by a counter-guarantee from the European Investment Bank (EIB). This innovative financial structure allows Findomestic to offer loans with lower interest rates specifically for the purchase and installation of energy-efficient equipment and solar energy production.
The tailored solution provided through this agreement enables Findomestic to disburse up to 250 million in new loans, adhering to environmental sustainability criteria established in collaboration with the EIB. This initiative not only facilitates access to financing for families but also promotes the ecological transition by encouraging investments in sustainable home improvements. The operational framework of this transaction is based on a portfolio of 855 million in retail performing loans, which does not involve the sale of assets, thereby allowing Findomestic to free up regulatory capital.
As a result of this initiative, the EIB Group is directly investing in lending to Italian households for the first time, aiming to reduce financing costs associated with energy efficiency projects. This model is expected to be replicable in other regions of Italy, further supporting the energy transition for families. The collaboration between the EIF and Findomestic exemplifies a commitment to fostering innovation in energy efficiency and renewable energy at the household level, ultimately contributing to a more sustainable future for Italian families.