What we do
Institutional investors
Equity products
AI Co-Investment Facility
Cleantech Co-Investment Facility
Impact investing at the EIF
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Normandie Garantie Agri
FAIRE - La Réunion
Auvergne Rhône-Alpes FEADER
Recovery Equity Fund of Funds of Bulgaria
Fons d’Inversió en Tecnologia Avançada (FITA) Catalonia
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Central and Eastern European Technology Transfer (CEETT)
Croatian Growth Investment Programme (CROGIP) II
Croatian Growth Investment Programme (CROGIP)
Croatian Venture Capital Initiative 2 (CVCi 2)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
The Cyprus Entrepreneurship Fund (CYPEF)
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
EU4Business Capped Guarantee
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
Call for Expression of Interest for FOSTER II
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
Romania Recovery Equity Fund of Funds
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund 1 (LFF)
Luxembourg Future Fund 2
Mezzanine 'Fund of Fund' for Germany (MDD)
NEOTEC resources
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece
Irish Innovation Seed Fund (IISF)
RRF Czech Republic Fund of Funds

EIB Group and Santander will mobilize €162 million in financing to increase energy efficiency of buildings in Portugal

    Date: 15 May 2023

The EIB Group (European Investment Bank and European Investment Fund) and Santander have signed a new synthetic securitization transaction to support the financing of energy efficiency investments in Portugal, including the construction of new nearly-zero-emissions buildings and the renovation of existing residential properties in line with sustainable standards.

The agreement was signed in Lisbon by the EIB Vice-President Ricardo Mourinho Félix, EIF Director George Passaris, the Vice-President of Santander Portugal, Manuel Preto, and the Director of Santander Portugal, Amílcar Lourenço.

The transaction will facilitate new green and sustainable mortgages to individuals and companies (SMEs and MidCaps), to invest in building renovations or new construction with high energy-efficiency standards, in compliance with the eligibility conditions defined by the EIB.

It is the first synthetic securitisation transaction of Santander with the EIB Group in Portugal. Under the transaction, the EIB Group will provide a €81 million unfunded guarantee that will enable Santander to finance new energy efficiency investments for an amount equal to twice the size of the EIB Group guarantee.

The individual projects, which will benefit from such new financing, may reach an investment of up to €25 million, with a maximum amount of funding of up to €12.5 million, and a minimum term of two years.

The projects financed by this operation will contribute to the reduction of CO2 emissions, deliver health benefits through improved air quality, and contribute to climate change mitigation.

“We are delighted to join forces with Santander in this securitization to support the green transition in the Portuguese residential housing segment,” EIB Vice-President Ricardo Mourinho Félix said. “With this new signature, the EIB Group continues supporting the expansion of the green mortgage offers and its accessibility in Portugal. Accelerating the transition to more sustainable housing solutions in the country is a key component of the EIB commitment to climate action and environmental sustainability in Portugal.”

Amílcar Lourenço, Director of Santander in Portugal, underlined the importance of this new agreement with the EIB, “which allows new funds to reach those who invest in the energy efficiency of buildings. At Santander, we want to point the way towards the climate transition, encouraging and creating conditions for people and companies to be increasingly sustainable”.

“At the EIF, we are proud to be doing our part in promoting green financing solutions. This securitisation transaction, bringing together European and local actors, will make available considerable resources to improve energy efficiency in households across Portugal,” said EIF Chief Executive Marjut Falkstedt. “Tackling climate change and boosting environmental sustainability is an uphill battle, but it is very encouraging when we are able to make a tangible contribution in achieving real progress”.

The project supports the national and European targets for energy efficiency and renewable energy. More specifically, it supports the objectives of the European Performance of Buildings Directive (EPBD), the Energy Efficiency Directive (EED), and the Renewable Energy Directive (RED), as well as Portugal's National Energy and Climate Plan (NECP).

Background information

About the EIB

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investments that contribute towards EU policy goals.

The European Investment Bank Group (EIB Group) — formed by the European Investment Bank (EIB) and the European Investment Fund (EIF) — reported another year of excellent results in Portugal with €1,7 billion of total financing signed in 2022.

About the EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and micro-finance instruments that specifically target this market segment. In this role, it contributes to the achievement of key EU policy goals such as competitiveness and growth, innovation and digitalisation, social impact, skills and human capital, climate action and environmental sustainability.

About Santander Portugal

Santander Portugal is a reference bank in the Portuguese financial system, with the mission of contributing to the development of people and companies. Serving more than 1.7 million customers, Santander's vision is to be the best open platform for financial services, acting responsibly and earning the trust of employees, customers, shareholders and society.

Santander is the largest private bank in Portugal, both in terms of profitability and lending. Its balance sheet strength is reflected in high capital ratios (CET1 of 13.5% in March 2023, above the SREP requirement of 8.3%), and a high quality loan portfolio (NPE ratio of 2. 1%).

The Bank has been focusing on digitization, simplification of processes and innovation, providing a closer and more personalized service to its customers, in order to provide them with the best possible experience.

Press contacts

EIB Group
Maite Cordero 
| m.corderomunoz@eib.org | tel.: +34 606 66 82 62
Filipe Carvalho | f.carvalho@ext.eib.org | tel.:  +351 93 507 21 07
Website: www.eib.org/press | Press Office: +352 4379 21000 — press@eib.org 

Santander Portugal
Paula Cordeiro | paula.cordeiro@santander.pt | Tel. 21 052 75 26 | 96 404 67 78
Sandra Lajas sandra.lajas@santander.pt  +351 21 052 75 96 | 96 681 02 05

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.


Copyright ©

 European Investment Fund   – The European Investment Fund is not responsible for the content of external internet sites.