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        BBVA ABS OPERATION FOR CLIMATE ACTION

        Signature(s)

        Amount
        € 50,000,000
        Countries
        Sector(s)
        Spain : € 50,000,000
        Industry : € 50,000,000
        Signature date(s)
        22/06/2023 : € 20,000,000
        22/06/2023 : € 30,000,000

        Summary sheet

        Release date
        21 June 2023
        Status
        Reference
        Signed | 22/06/2023
        20220769
        Project name
        Promoter - financial intermediary
        BBVA ABS OPERATION FOR CLIMATE ACTION
        BANCO BILBAO VIZCAYA ARGENTARIA SA
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        EUR 50 million
        not applicable
        Location
        Sector(s)
        Description
        Objectives

        EIB participation in mezzanine tranches of a Cash ABS transaction to finance green projects in Spain.

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

        Additionality and Impact

        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. BBVA has a good track record in allocating EIB funds to support sound projects dedicated to SMEs and Mid-Caps.

        Environmental aspects
        Procurement

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

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

        Milestone
        Under appraisal
        Approved
        Signed
        21 June 2023
        22 June 2023
        Related projects
        Parent project
        EU PROGRAMME LOAN FOR ABS OPERATIONS

        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).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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