Release date: 27 October 2020
Promoter – Financial Intermediary
Private Finance for Energy Efficiency (PF4EE) Framework Loan (FL) for the financing of the energy renovation of existing buildings undertaken by homeowner associations in Spain.
The intermediated loan to Bankia will finance energy efficiency projects primarily promoted by homeowner associations located in Spain.
Proposed EIB finance (Approximate amount)
EUR 22 million
Total cost (Approximate amount)
EUR 40 million
This operation intends to bring environmental benefits by supporting projects that reduce energy consumption and help to mitigate climate change. The individual schemes to be financed are small and are expected to have very limited negative environmental impacts. Given the scale, location and nature of the sub-projects, an environmental impact assessment (EIA), as defined under the EIA Directive 2011/92/EU, is normally not required. The Bank has assessed the capacity and procedures of the Financial Intermediary to ensure compliance with national and European environmental and biodiversity regulations of the individual schemes as well as its capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Approved - 3/12/2020
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).