- The EIB is set to invest €150 million in the European Union’s first intermediated financing programme aimed exclusively at women. It will provide a loan to CBNK, the bank for key engineering and health professionals formed by the merger of Banco Caminos and Bancofar.
- The operation is focused on supporting women who want to set up or grow businesses in the pharmacy sector, potentially involving 600 pharmacies across the country.
The European Investment Bank (EIB) and CBNK, a Spanish bank serving key professionals and formed through the merger of Banco Caminos and Bancofar, have announced a landmark initiative to empower women entrepreneurs in the pharmacy sector in Spain. The operation, signed today during the EIB Group Forum in Luxembourg, is the EIB’s first intermediated loan within the European Union exclusively supporting women entrepreneurs.
It will involve access to loans averaging €450 000 that can be used by women entrepreneurs to finance the formation of their business (purchase of licences), working capital (inventory) or equipment such as counters, shelves or computers.
This €150 million EIB investment – implemented through the purchase of a covered bond issued by CBNK and rated Aa1 by Moody’s – aims to improve access to finance for women-owned or led small and medium enterprises (SMEs), including self-employed professionals.
Despite making up a majority of the workforce in the pharmacy sector, women continue to face barriers such as limited access to finance, wage gaps and underrepresentation in leadership positions. This operation seeks to address these challenges by providing tailored financial support to women entrepreneurs and business leaders, enabling them to scale their businesses and contribute to Spain’s economic growth.
“This operation represents a significant milestone in our commitment to the strong European values of gender equality and inclusive economic growth. By supporting women entrepreneurs in the pharmacy sector, we are unlocking opportunities and strengthening the Spanish healthcare system.” “Investing in female leadership is not just the right thing to do – it is the smartest thing to do. The evidence is clear: Gender equality leads to better decisions and better economic outcomes, and drives progress, stability and prosperity,” said EIB President Nadia Calviño.
CBNK CEO Enrique Serra González said: “This operation expands CBNK’s commitment to the healthcare sector and women’s entrepreneurship, and is intended to be the starting point of an ongoing intermediation partnership with the EIB.”
The signature of this operation will also open the conference launching the Gender Finance Lab commercial bank advisory programme. Launched by the EIB and funded by the European Commission under the InvestEU Advisory Hub mandate, the programme is a pioneering initiative to create a community of commercial banks committed to boosting women’s entrepreneurship and contributing to inclusive economic growth in the European Union.
Background information
EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.
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 and adaptation, and a healthier environment.
In Spain, the EIB Group signed new financing worth €12.3 billion for over 100 high impact projects in 2024, contributing to the country’s green and digital transition, economic growth, competitiveness and better services for its people.
To enhance the positive impact of its activities on gender equality and empower women and girls, the EIB Group adopted a Strategy on Gender Equality and Women’s Economic Empowerment and a Gender Action Plan, with the aim of embedding gender equality and in particular women’s economic empowerment in the EIB’s business model. It covers its lending, blending and advisory work within and outside the European Union. The EIB Group is also committed to driving gender equality in the workplace.
CBNK
CBNK is one of Spain’s largest specialised banking financial groups. In 2014, Banco Caminos acquired Bancofar. Both entities had longstanding experience in serving professional collectives. Founded in 1977, Banco Caminos has always had connections with road, canal and port engineers, as well as other professional activities and associated sectors, while Bancofar was created in 1964, supporting pharmacy professionals since then. Caminos Group was formed in 2018.
Bancofar was absorbed by Banco Caminos in 2023, with these two group entities changing their name to CBNK. This new brand was created to extend its value proposition to other collectives, with a focus on high social impact professionals specialising in its areas of expertise (engineering and healthcare).