SANTANDER GREEN LOAN FOR SMES AND MIDCAPS

Promoter – Financial Intermediary

BANCO SANTANDER SA

Location

• Spain

Description

This EIB loan finances 100% green investment of small and medium-sized enterprise and mid-caps. This multiple beneficiary intermediated loan (MBIL) is a sub-operation under the programme Loan SPAIN CLIMATE ACTION MBIL PROGRAMME (2019-0346)

Additionality and Impact

The main purpose of this operation is to facilitate access to finance at favourable conditions to Spanish SMEs and Midcaps, most of which have been impacted by the energy crisis. Santander has a good track record in allocating EIB funds to support sound projects dedicated to SMEs and Mid-Caps. The project will support the green transition by financing new energy efficient buildings (the operation will thus have a 100% climate contribution). EIB contribution takes the form of financial benefit and longer tenors. By providing new credit lines to SMEs and Mid-Caps via an established intermediary, the EIB can play a counter-cyclical role, preserve employment and positively contribute to the recovery of the Spanish economy. EIB investment, through a securitization, will crowd-in public and private investors.

Objectives

Financing of small/medium projects carried out by small and medium sized enterprises.

Sector(s)

• Industry - Construction

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

not applicable

Environmental aspects

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Status

Signed - 19/07/2023