Portugal: EIB Group and Santander provide €183 million to improve energy efficiency in buildings

November 28, 2024 by European Investment Bank Leave a Comment

This article is published in association with European Investment Bank.

The EIB Group – comprising the European Investment Bank (EIB) and the European Investment Fund (EIF) – has signed a synthetic securitisation with Santander to support new investments in energy efficiency in Portugal worth €183 million. The operation will focus on the renovation of existing buildings to improve their energy efficiency, as well as the construction of new buildings meeting high energy efficiency standards. This deal builds on the success of a similar transaction signed between the parties in 2023.

As part of the new agreement, the EIB Group will provide Santander with EUR 91.6m of unfunded protection to an upper-mezzanine tranche, enabling the latter to grant €183m, i.e. double that figure, in new financing for green mortgages. The securitisation structure includes a lower-mezzanine tranche protected by private investors.

The beneficiaries of such support will be individuals and homeowners’ associations, together with small and medium-sized enterprises (SMEs) and mid-caps. In addition, Santander is currently benefiting from advisory support under the EIB’s Green Gateway facility with a focus on sourcing, assessing and reporting on green projects.

Projects supported by this operation will benefit from competitive financing terms, with a view to reducing CO₂ emissions, improving air quality and encouraging climate resilience. Investments can be up to €25 million, with a maximum of €12.5 million in financing per project and a minimum term of two years.

“This partnership will help scale up financing for energy-efficient housing in Portugal, in line with our commitment as Europe’s climate bank to do more in this area,” highlighted EIB Director-General and Head of EU Lending and Advisory, Jean-Christophe Laloux.

Amílcar Lourenço, Santander’s Managing Director in Portugal, emphasised this new partnership with the EIB Group, which ‘represents the fundamental role that the bank wants to play with its customers – individuals and companies – in financing and providing the best solutions for their needs. In this specific case, with the added importance of promoting sustainable projects, thus taking another step towards the climate transition.”

“This operation contributes to Portugal’s energy transition through a commitment by Santander to finance new energy-efficiency investments in Portugal. It also contributes to a stronger securitisation market, in line with the objectives of the savings and investments union”, said Alessandro Tappi, Chief Investment Officer at EIF.

Background information

About the EIB

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The European Investment Bank Group (EIB Group), comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), recorded €2.1 billion of total financing underwritten in Portugal in 2023. Around half of this investment went to support small and medium-sized enterprises (SMEs) and mid-caps. In total, the EIB Group signed €88 billion in new financing in 2023.

About the EIF

The European Investment Fund (EIF) is part of the European Investment Bank (EIB) Group. Its central mission is to support Europe’s micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, it contributes to the achievement of key EU policy goals such as competitiveness and growth, innovation and digitalisation, social impact, skills and human capital, climate action and environmental sustainability.

Discover more from The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com

Subscribe to get the latest posts sent to your email.

© World Vision Smoke rises in Beit Mery, close to the Lebanese capital, Beirut, following an airstrike.

Middle East war’s ‘spiral of conflict’ drives mounting civilian toll

March 17, 2026

This article is published in association with United Nations. The widening war in the Middle East and its growing impact on civilians came under scrutiny at the UN in Geneva on Monday, as independent experts briefing the Human Rights Council warned of escalating violence following the onset of Israeli and US strikes on Iran and counterstrikes […]

© Mousawat A mother and child displaced by the conflict in Lebanon receiving care at a clinic.

Middle East war: Women in Lebanon forced to give birth on roadside

March 16, 2026

This article is published in association with United Nations. As the UN Secretary-General touched down in Beirut on Friday in solidarity with the people of Lebanon, UN agencies highlighted the dangers for civilians and particularly pregnant women and migrant workers, amid ongoing airstrikes and rocket fire between Hezbollah fighters and Israel. “There’s 11,600 pregnant women who […]

© WFP/Arete/Ali Yunes Some residents of Beirut who have been displaced by the conflict are now living on the streets of the Lebanese capital.

‘Perfect storm’: Lebanon crisis deepens as civilians bear the brunt

March 13, 2026

This article is published in association with United Nations. Lebanon is facing a “perfect storm of unpredictable challenges” as conflict, mass displacement and dwindling humanitarian resources converge, the UN’s Resident and Humanitarian Coordinator in Lebanon, Imran Riza, has warned. The current escalation began on 2 March, when outgoing fire by Hezbollah drew a strong retaliation from […]

© WFP/Maxime Le Lijour People living in Gaza have received humanitarian aid from the UN throughout the conflict with Israel.

UN relief chief condemns ‘$1 billion-a-day’ cost of war in Middle East

March 12, 2026

This article is published in association with United Nations. The UN’s emergency relief chief on Wednesday condemned the “$1 billion-a-day” cost of the war in the Middle East, at a time when humanitarian needs are soaring and aid funding is falling dangerously short. “We’re seeing the consequences spread faster than we can respond”, warned the UN emergency […]

© UNICEF/Azizullah Karimi Afghan returnees from Iran gather at the Islam-Border, near Herat in western Afghanistan (file).

‘Toxic rain’ warning from oil depot strikes amid ongoing Middle East war

March 11, 2026

This article is published in association with United Nations. Toxic “black rain” linked to strikes on oil depots, mass displacement and continuing disruption to aid supply chains are upending lives across the Middle East and beyond after 10 days of war in the region, UN humanitarians said on Tuesday. Speaking to reporters in Geneva, UN Human […]

© UNHCR People gather at the Masnaa border point in Lebanon as they wait to cross into Syria.

Nearly 700,000 displaced in Lebanon as Middle East crisis escalates

March 10, 2026

This article is published in association with United Nations. On day 10 of the war engulfing the Middle East, UN agencies on Monday reported massive displacement across the region, along with surging food and fuel prices that risk increasing hunger and suffering for the most vulnerable. In Lebanon alone, nearly 700,000 people including around 200,000 children […]

UN Photo/Pasqual Gorriz Smoke rises in Beirut, Lebanon, following the outbreak of hostilities across the Middle East.

Lebanon ‘dragged back into turmoil’, UN envoy warns

March 9, 2026

This article is published in association with United Nations. Lebanon has been “dragged back into a state of turmoil and violence”, the UN’s top envoy in the country warned on Saturday, after the latest round of regional strikes triggered a fast‑escalating crisis along the Blue Line. What had been fragile but real momentum, she said, has […]

UNHCR Smoke rises after an airstrike in Beirut, Lebanon.

MIDDLE EAST LIVE: Strikes continue across Middle East as humanitarian concerns grow

March 6, 2026

This article is published in association with United Nations. Highlights Production team: Vibhu Mishra with Daniel Johnson in GenevaToday 12:15 μ.μ. UN rights office warns displacement orders in Lebanon affecting hundreds of thousands The UN human rights office has warned that large-scale displacement orders and ongoing airstrikes in Lebanon are worsening the suffering of civilians already affected […]

© UNICEF/Ramzi Haidar Destroyed buildings and debris in the southern suburbs of Beirut, Lebanon, following airstrikes.

MIDDLE EAST LIVE: Further escalation drives uncertainty and suffering

March 6, 2026

This article is published in association with United Nations. On day six of the war in the Middle East, there’s been no let-up in bombs, drones and rockets targeting Iran, Israel, Lebanon and many Gulf States, while NATO forces reportedly intercepted a missile fired at Türkiye by Iran, a claim denied by Tehran. We’ll bring you […]

MIDDLE EAST LIVE: Conflict continues across region amid US, Israeli and Iranian strikes

March 5, 2026

This article is published in association with United Nations. Violence in the Middle East is continuing into a fifth day, with US and Israeli strikes against Iran and Iranian missile and drone attacks reported across several countries in the region. The escalating confrontation is disrupting airspace, transport and daily life while raising fears of a wider […]

© IAEA/Paolo Contri The Bushehr Nuclear Power Plant in Iran.

Iran crisis: Schoolgirls killed, thousands displaced and aid compromised

March 4, 2026

This article is published in association with United Nations. On the fourth day of Israeli and United States airstrikes against Iran and amid growing violence and instability in the Middle East, the UN urgently called for protection of civilians and warned of growing displacement and humanitarian needs. UN human rights office spokesperson Ravina Shamdasani also recalled […]

© Unsplash/Kamran Gholami Tehran, the capital of Iran. (file photo)

MIDDLE EAST LIVE: Strikes continue from US, Israel and Iran as UN urges restraint

March 3, 2026

This article is published in association with United Nations. Violent escalation in the Middle East has entered a third day as coordinated US and Israeli strikes against Iran aimed at regime change continue to cause loss of life and damage across the region, prompting Iranian missile and drone counter-strikes hitting targets in multiple countries. Explosions, airspace […]

Deadly bombing of Iran primary school ‘a grave violation of humanitarian law’: UNESCO

March 2, 2026

This article is published in association with United Nations. The UN education agency, UNESCO, says that the bombing of a primary school during the US and Israeli military attacks on Iran on Saturday constitutes a grave violation of humanitarian law. The missiles reportedly destroyed a girl’s primary school in Minab, southern Iran, killing around 150 and […]

© UNRCO Iran Tehran, the capital of Iran.

Attacks on Iran and retaliatory strikes ‘undermine international peace and security’

March 1, 2026

This article is published in association with United Nations. UN Secretary-General António Guterres and the heads of UN agencies have condemned Saturday’s joint Israeli and US attacks on Iran and the Iranian retaliatory strikes on Israel and the Gulf Regions. The attack on Iran reportedly targeted military sites as well as the leadership of the Iranian […]

© WFP/Maxime Le Lijour A woman holds a child as a storm approaches Khan Younis in Gaza.

Palestine: UN rights chief highlights suffering, atrocity crimes ‘that remain unpunished

February 27, 2026

This article is published in association with United Nations. The UN rights chief Volker Türk on Thursday highlighted the “human-made disaster” across the Occupied Palestinian Territory stemming from Israel’s disregard for human rights norms and serious violations also committed by Hamas and other Palestinian armed groups. Citing a new report from his office (OHCHR) covering the […]

Ángela Soria Pitarch was born on March 28, 2003. She is currently a fifth-year medical student at the University of Valencia.

Not the Future, the Present: Young Voices Shaping Global Health in 2026

February 26, 2026

This article was exclusively written for The European Sting by Ms. Ángela Soria Pitarch was born on March 28, 2003. She is currently a fifth-year medical student at the University of Valencia. She is affiliated with the International Federation of Medical Students Associations (IFMSA), cordial partner of The Sting. The opinions expressed in this piece belong strictly to […]

© UNOCHA Many rural areas of Ukraine have been blasted by shelling and drone strikes. The country is also one of the most mined in the world, top UN aid officials warn.

Ukraine wakes to more violence as Russia’s invasion enters fifth year

February 25, 2026

This article is published in association with United Nations. The full-scale invasion of Ukraine by Russian troops on 24 February 2022 shattered the peaceful aspirations of an entire continent, but war must never be the new normal, UN General Assembly President Annalena Baerbock said on Tuesday. “Four years ago, people in Europe woke up in another […]

Fokah Wembe Darrell Dupray is a 4th-year medical student at Université des Montagnes, Bangangté Cameroon and a student leader within the Cameroon Medical Students’ Association (CAMSA).

From Local Barriers to Global Lessons: Practical Paths Toward Inclusive Healthcare

February 23, 2026

This article was exclusively written for The European Sting by Ms. Zainatun Nawwariyah is a fifth-year medical student at the Faculty of Medicine, University of North Sumatera, who is passionate about advancing medicine through research, advocacy, and service. She is affiliated with the International Federation of Medical Students Associations (IFMSA), cordial partner of The Sting. The opinions expressed […]

© UNICEF/Bullen Chol A grandmother takes care of her 17-month-old malnourished grandson in South Sudan.

World News in Brief: UN humanitarian chief visits South Sudan, shelter fire risks in Gaza, West Bank violence

February 23, 2026

This article is published in association with United Nations. The UN Emergency Relief Coordinator arrived in South Sudan on Friday to visit one of the most under-reported humanitarian crises in the world, as clashes between government and opposition forces continue in Jonglei state. Tom Fletcher will focus on the deteriorating humanitarian situation in the world’s youngest country and escalating protection risks for both civilians and aid workers. […]