EIB Launches €150 Million Initiative to Empower Women Entrepreneurs in Spain’s Pharmacy Sector

EIB Launches €150 Million Initiative to Empower Women Entrepreneurs in Spain’s Pharmacy Sector

(IN BRIEF) The European Investment Bank has committed €150 million to a pioneering financing initiative exclusively supporting women entrepreneurs in Spain’s pharmacy sector. The investment, delivered through a covered bond issued by CBNK—a bank formed by the merger of Banco Caminos and Bancofar—will provide loans averaging €450,000 to help establish or expand up to 600 pharmacies. This strategic move, announced at the EIB Group Forum in Luxembourg, is aimed at overcoming long-standing financial barriers for women in the industry, enhancing gender equality, and bolstering the Spanish healthcare system. EIB President Nadia Calviño and CBNK CEO Enrique Serra González highlighted the dual benefits of this initiative: it not only drives economic growth through increased female participation in business but also lays the groundwork for a broader Gender Finance Lab programme, which will bring together commercial banks to promote inclusive financial practices across the European Union.

(PRESS RELEASE) LUXEMBOURG, 5-Mar-2025 — /EuropaWire/ — The European Investment Bank (EIB) is set to deploy a €150 million investment into a groundbreaking financing initiative exclusively aimed at empowering women entrepreneurs in Spain’s pharmacy sector. The deal, signed today at the EIB Group Forum in Luxembourg, marks the first intermediated loan within the EU dedicated solely to supporting female-led enterprises. The investment will be channeled through a covered bond issued by CBNK—a Spanish bank created through the merger of Banco Caminos and Bancofar—which holds a Moody’s rating of Aa1.

Under this innovative programme, women entrepreneurs in the pharmacy industry will have access to loans averaging €450,000. These funds are designed to facilitate the establishment or expansion of businesses by financing essential expenditures such as license acquisition, working capital, and equipment purchases including counters, shelves, or computers. The initiative is expected to potentially support up to 600 pharmacies nationwide, addressing long-standing financial barriers that have limited female participation in leadership roles despite their dominant presence in the sector.

EIB President Nadia Calviño stressed that this operation not only upholds Europe’s core values of gender equality and inclusive growth but also strengthens the Spanish healthcare system by unlocking new opportunities for women. “Investing in female leadership is not just the right thing to do—it is the smartest thing to do. Gender equality drives better decisions and improved economic outcomes,” she remarked.

CBNK CEO Enrique Serra González echoed these sentiments, noting that the partnership with the EIB represents a significant step in CBNK’s ongoing commitment to advancing healthcare and women’s entrepreneurship. Moreover, the signing of this operation serves as a precursor to the launch of the Gender Finance Lab commercial bank advisory programme. Funded by the European Commission under the InvestEU Advisory Hub mandate, the programme will assemble a community of commercial banks dedicated to enhancing women’s entrepreneurship and promoting inclusive economic growth across the European Union.

Background information

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 EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation and adaptation, and a healthier environment.

In Spain, the EIB Group signed new financing worth €12.3 billion for over 100 high impact projects in 2024, contributing to the country’s green and digital transition, economic growth, competitiveness and better services for its people.

To enhance the positive impact of its activities on gender equality and empower women and girls, the EIB Group adopted a Strategy on Gender Equality and Women’s Economic Empowerment and a Gender Action Plan, with the aim of embedding gender equality and in particular women’s economic empowerment in the EIB’s business model. It covers its lending, blending and advisory work within and outside the European Union. The EIB Group is also committed to driving gender equality in the workplace.

CBNK

CBNK is one of Spain’s largest specialised banking financial groups. In 2014, Banco Caminos acquired Bancofar. Both entities had longstanding experience in serving professional collectives. Founded in 1977, Banco Caminos has always had connections with road, canal and port engineers, as well as other professional activities and associated sectors, while Bancofar was created in 1964, supporting pharmacy professionals since then. Caminos Group was formed in 2018.

Bancofar was absorbed by Banco Caminos in 2023, with these two group entities changing their name to CBNK. This new brand was created to extend its value proposition to other collectives, with a focus on high social impact professionals specialising in its areas of expertise (engineering and healthcare).

Media Contacts:

Maite Cordero
m.corderomunoz@eib.org
+34 606 66 82 62

Monica Faro
m.faro@eib.org
+352 4379-71105

Anne-Laure Gaffuri
a.gaffuri@eib.org
+352 4379 – 83689

Press Office
press@eib.org
+352 43791

SOURCE: European Investment Bank