The EIB Group has invested more than €90 million in a BBVA asset-backed securitisation operation.
This EIB investment will allow BBVA to mobilise some €185 million in financing for sustainable housing projects in Spain.
The operation is backed by InvestEU, an EU programme that aims to unlock over €372 billion in investment by 2027.

Madrid, 2, April 2025: The EIB Group – made up of the European Investment Bank (EIB) and the European Investment Fund (EIF) – has signed a new €93 million synthetic securitisation operation with BBVA for 100% green projects. This investment will allow BBVA to mobilise around €185 million to finance the construction of residential buildings with near-zero emissions by small and medium firms (SMEs) and mid-caps in Spain’s real estate sector.

The operation is guaranteed by InvestEU, the EU programme to mobilise public and private investment. It will give SMEs and mid-caps that promote sustainable housing easier access to financing on favourable terms that would not otherwise be available for such projects.

The projects financed by this operation will improve energy efficiency, reduce CO₂ emissions and help mitigate climate change. A significant number of these projects are expected to be implemented in cohesion regions where the income per capita is below the EU average.

EIB Housing

This operation is one more demonstration of the EIB Group’s role of promoting new financial instruments like securitisation that help unlock capital for green projects, reduce the risk borne by sponsoring financial institutions and strengthen the EU capital markets union.

The agreement with BBVA supports the strategic priorities of the EIB Group, which include climate action, access to affordable and sustainable housing, cohesion and the capital markets union.

The securitisation is on a portfolio of over €1.4 billion in loans to SMEs in which BBVA will retain the senior and junior tranches, and the EIB Group will guarantee the mezzanine tranche of €93 million. It has been structured to meet the STS criteria (simple, transparent and standardised), and includes a synthetic excess spread mechanism and uses pro rata amortisation (which may be changed to sequential).

Background information

About the EIB Group

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024, helping power the country’s green and digital transition and promote economic growth, competitiveness and better services for its people.

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About InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that invest in projects, leveraging on the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.

About BBVA

BBVA is a global financial services group founded in 1857. The bank is present in more than 25 countries, has a strong leadership position in the Spanish market, is the largest financial institution in Mexico and it has leading franchises in South America and Turkey.

BBVA contributes with its activity to the progress and welfare of all its stakeholders: shareholders, clients, employees, providers and society in general. In this regard, BBVA supports families, entrepreneurs and companies in their plans, and helps them to take advantage of the opportunities provided by innovation and technology. Likewise, BBVA offers its customers a unique value proposition, leveraged on technology and data, helping them improve their financial health with personalized information on financial decision-making.

Press contacts

EIB Group

Maite Cordero | m.corderomunoz@eib.org | tel.: +34 606 66 82 62

Website: www.eib.org/press | Press Office: +352 4379 21000 | press@eib.org

BBVA

Miguel Rodríguez | m.rodriguez.canfranc@bbva.com | tel.: +34 699 337 924