BAKU, Azerbaijan, May 7. The European Investment Bank (EIB) Group has signed its first synthetic securitisation deal with Banco Cetelem, the commercial brand of BNP Paribas Personal Finance in Spain, to mobilize 200 million euros in financing for household energy efficiency projects across the country, Trend reports.
Under the agreement, the European Investment Fund (EIF), part of the EIB Group, will provide 93 million euros in credit protection on a portfolio of consumer auto loans held by Cetelem.
This will enable the Spanish lender to originate a new portfolio of loans focused entirely on green investments, including home renovations, small-scale renewables like solar panels, and energy-efficient appliances.
The operation is expected to generate significant climate benefits by reducing household carbon emissions and enhancing the energy performance of Spanish homes. Many of the supported projects will take place in EU cohesion regions, where income levels are below the EU average, aligning with the EIB Group's goal of promoting inclusive and sustainable growth.
“This agreement makes it easier for households to invest in energy efficiency,” said Gemma Feliciani, Director of Financial Institutions at the EIB. “Unlocking capital through financial innovation is key to making the energy transition accessible to all.”
The securitization also contributes to broader EU objectives, including the Capital Markets Union and the EIB’s 2024–2027 Strategic Roadmap, which prioritises climate action, sustainable housing, and regional cohesion.