Signature(s)
Summary sheet
- Credit lines - Credit lines
The consumer ABS cash transaction will support BBVA in financing projects carried out by small and medium-sized enterprises (including MidCaps) in Spain.
The aim is to enhance access to finance for the final beneficiaries.
The operation will target Spanish SMEs, with a focus on Cohesion regions (i.e. 51% of Spain's GDP). Spanish SMEs represent 99.8% of all companies, employ over two-thirds of the workforce, and generate 62% of Gross Value Added in the business economy. The Spanish start-up ecosystem continues to expand, although young companies report structural barriers (i.e. limited venture capital, short credit history, and high collateral requirements for traditional loans). Access to finance remains one of their main constraints, particularly for micro-enterprises and start-ups. In the fourth quarter of 2025, firms indicated increased needs for bank loans and a decline in bank loan availability quarter-over-quarter, with the Euro area bank loan financing gap indicator reaching 3% (1% in the previous quarter).
This operation is designed to address working capital shortages, liquidity gaps, and delayed investment decisions, exacerbated by high inflation, prolonged war in Ukraine, and uncertain geopolitical environment. Spanish SMEs have been particularly impacted by elevated energy prices and supply chain disruptions, increasing their cost base and reducing margins.
The aim of the operation is to promote and accelerate private sector investment and help close that financing gap by providing more accessible funding for SMEs, being vital to Spain's economic fabric.
The operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". BBVA has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social risks related to the potential sub-projects benefitting from EIB support. The final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.