Strategic Risk Sharing Agreement Between EIB Group and BNP Paribas Expands Lending Capacity for French Businesses

Strategic Risk Sharing Agreement Between EIB Group and BNP Paribas Expands Lending Capacity for French Businesses

(IN BRIEF) The EIB Group has signed a €112 million synthetic securitisation transaction with BNP Paribas to expand financing for French SMEs, mid-caps and climate-related projects. By taking on part of the credit risk of an existing loan portfolio, the agreement enables BNP Paribas to release regulatory capital and provide around €337 million in new lending over two years, with at least €101 million earmarked for climate action and environmental sustainability initiatives. Structured as an STS-compliant transaction with EIF protection on the mezzanine tranche and a €1.5 billion underlying portfolio, the deal is designed to optimise capital efficiency while supporting business growth, green investment and broader EU economic objectives.

(PRESS RELEASE) LUXEMBOURG, 17-Feb-2026 — /EuropaWire/ — The European Investment Bank Group has entered into a new synthetic securitisation agreement with BNP Paribas valued at €112 million, reinforcing their long-standing collaboration to expand financing opportunities for businesses in France while supporting climate-focused investment. The transaction is the sixth of its kind between the two institutions since 2017 and is intended to unlock additional lending capacity for small and medium-sized enterprises and mid-cap companies.

Through this arrangement, the EIB Group — comprising the European Investment Bank (EIB) and the European Investment Fund (EIF) — assumes part of the credit risk associated with an existing portfolio of BNP Paribas loans. By reducing the bank’s regulatory capital requirements, the structure enables BNP Paribas to mobilise approximately €337 million in new financing over the next two years for French companies and sustainability-driven projects. A minimum of €101 million of this new lending will be directed toward initiatives contributing to climate neutrality and environmental transition.

The operation is designed to strengthen access to finance for businesses seeking to grow, modernise and invest in low-carbon solutions. It reflects a shared objective to support the real economy while accelerating the shift toward a more sustainable industrial base.

Technically, the EIF provides protection on a €112 million mezzanine tranche that is counter-guaranteed by the EIB, while BNP Paribas retains the senior and junior tranches. The securitised loan portfolio — valued at roughly €1.5 billion and consisting primarily of mid-corporate loans originated by BNP Paribas’ BCEF division — remains on the bank’s balance sheet, consistent with the synthetic structure of the transaction. The deal qualifies as a Simple, Transparent and Standardised (STS) securitisation under EU rules.

The transaction incorporates a two-year replenishment period allowing eligible assets to be added to the portfolio, subject to defined credit-performance conditions, and includes mechanisms such as pro-rata amortisation and performance-based triggers. This structure is intended to optimise risk-weighted asset relief throughout the life of the deal, thereby freeing additional capital to sustain lending to businesses and green investments.

By continuing to deploy securitisation as a financing tool, the EIB Group and BNP Paribas aim to generate new funding flows to SMEs and mid-caps, encourage climate-aligned investment and contribute to broader European objectives related to economic resilience and the Savings and Investment Union.

Background information  

The EIB Group 

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium size businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilizes private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

In 2023, the EIF together with six member states (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund of funds to scale-up innovative startups. This initiative has already enabled the creation of 12 European venture capital mega-funds and scaled up 38 companies, including 11 unicorns (with more than €1 billion in capital).

Photos of the EIB Group’s spokespeople and headquarters, logo files and video B-roll for media use are available here.

 About BNP Paribas

Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

Media contacts:

Andrea Morawski
a.morawski@eib.org
+352 4379 – 83427

Press Office
press@eib.org
+352 43791

SOURCE: European Investment Bank