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Reference: 20230564
Release date: 2 November 2023

Promoter – Financial Intermediary

ACCEPTABLE BANK(S)

Location

Description

Lending Envelope (LE) to support new CA&ES projects in the EU. Proposed under InvestEU, the sub-operations will achieve the objectives through the participation in mezzanine tranches of securitisation structures issued by acceptable EU financial institutions.

Additionality and Impact

This Lending Envelope for green securitisation, proposed under InvestEU as an innovative pilot, seeks to create additional lending capacity, through securitisation tools, to financial intermediaries, in order to boost their investments in small and medium scale projects eligible under EIB and InvestEU CA&ES criteria, including, amongst others, renewable energy and energy efficiency projects. The Lending Envelope primarily targets the InvestEU objectives of financing the development of i) the energy sector, in accordance with the Energy Union priorities, ii) sustainable and safe transport infrastructures and mobility solutions, and iii) sustainable uses of the environment and natural resources. In light of the market needs, the project aims to support the green transition through green projects of SMEs and Midcaps (c. 50%) as well as public and private sector entities, SPVs, private individuals and larger entities. The envelope might also support home-owners to undertake energy efficiency investments in their residential buildings. The Lending Envelope under InvestEU will encourage the growth of a green securitization market in the EU, whose size is at a sub-optimal level. Given the expected riskier profile of the sub-projects compared to the investments executed by EIB under own risk, the EIB would not be able to provide such product, or not to the same extent or quantum, without the InvestEU support.

The project will result in significant reduction of carbon footprint, pollution and other negative externalities.

Objectives

The Lending Envelope (LE) supports new projects promoting Climate Action and Environmental Sustainability (CA&ES) in the EU. Proposed under InvestEU, the sub-operations will achieve the objectives through the participation in mezzanine tranches of securitisation structures issued by acceptable EU financial institutions.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 800 million

Total cost (Approximate amount)

EUR 2560 million

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

Approved - 13/12/2023

Milestone
Under appraisal
Approved
13 December 2023

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

EU Countries Credit lines