The EIB Group has invested €876 million in a new securitisation transaction with Banco Santander to generate approximately €1.43 billion in new lending for Spanish small and medium-sized enterprises and mid-caps.

Under the structure of the deal, the European Investment Bank (EIB) is supplying roughly €476 million, while the European Investment Fund (EIF) is committing €400 million alongside additional private sector investors. The EIF contribution features a guarantee embedded directly within the Class A2 securities, marking the first time a securitisation transaction in Spain has utilised this specific legal layout.

The generated funds will assist Spanish businesses with liquidity needs, working capital and investment challenges brought on by elevated interest rates, energy prices and persistent inflation. From the total financing, over €162 million is earmarked for green transition initiatives, while €108 million will go directly to loans for women entrepreneurs or companies primarily owned and managed by women.

Marco Marrone, Chief Investment Officer of the EIF, Joan Basora, head of the Multinational Financial Institutions Division at the EIB, and Catalina Mejía García, Chief Financial Officer of Banco Santander Spain, formally signed the agreement in Madrid.

“Small and medium-sized enterprises are a vital driver of growth, innovation and employment in Europe. This investment reinforces the EIF’s commitment to improving access to finance for Spanish small and medium businesses and mid-caps, particularly those pursuing sustainable projects and those led by women,” said EIF Chief Investment Officer Marco Marrone.

The transaction lines up with the EIB Group’s broader strategic focus on sustainability, economic cohesion and the development of the EU savings and investments union.

“This transaction demonstrates how the long-standing partnership between the EIB and Santander continues to channel financing to small and medium businesses and mid-caps, the backbone of the Spanish economy,” said Joan Basora, head of the Multinational Financial Institutions Division at the EIB. “By mobilising private investment, the EIB is helping to drive growth, create jobs and strengthen economic, social and territorial cohesion across the country.”

Banco Santander noted that the partnership will expand financial access to keep local enterprises competitive on a wider scale.

“Our partnership with the EIB Group enables us to continue strengthening our support for Spanish SMEs and mid-caps, broadening access to finance to drive their growth, advance the sustainable transition and contribute to our country’s economic development and competitiveness,” said Catalina Mejía, Chief Financial Officer of Banco Santander Spain.