EIB Mobilizes €230M with A&G and AEXX for Urban and Tourism Projects in Spain

The EIB’s initiative is rooted in the belief that resilient urban centers and a forward-looking tourism sector are key to regional economic recovery, job creation, and sustainable development.

The European Investment Bank (EIB) has announced a significant expansion of its support for urban development and sustainable tourism in Spain, signing new financing agreements with A&G Banco and Urbania Alpha, which operates under the AEXX Capital brand. The total investment under these agreements amounts to €230 million, aiming to promote affordable housing, sustainable urban infrastructure, and eco-friendly tourism initiatives throughout the country.

These agreements fall under the Regional Resilience Fund, a key component of Spain’s Recovery, Transformation and Resilience Plan, funded through the European Union’s NextGenerationEU recovery mechanism. The effort also aligns with the EU’s broader green transition goals, social inclusion strategies, and urban innovation priorities.

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A Powerful Public-Private Investment Tool

The agreements are part of a new EIB financial instrument launched to route funding through specialized financial intermediaries, thereby accelerating project delivery and unlocking public-private co-investment opportunities. With this latest round, the EIB has now signed €640 million worth of agreements under this framework, all geared toward urban renewal and sustainable tourism development.

EIB Director General for EU Lending and Advisory, Jean-Christophe Laloux, emphasized the role of this funding model:

“With these two new financing agreements, the EIB continues to accelerate the deployment of the Regional Resilience Fund while boosting investment in urban development, affordable housing, and sustainable tourism in Spain. Public-private partnerships like those with A&G and AEXX Capital help unlock the capital needed to make housing more accessible, foster environmentally responsible tourism, and adapt our cities to the evolving needs of citizens.”

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Financing Structure and Targeted Impact

• A&G Banco will manage €130 million, which will be channeled through its platform A&G Real Estate Sustainable Developments, SICC SA. This regulated investment vehicle will focus on equity-based financing for projects promoting affordable rental housing, urban infrastructure, and green real estate developments.

• Urbania Alpha / AEXX Capital has been allocated €100 million, to be deployed through AEXX Impact Investments I, SICC SA. This vehicle is structured to offer equity, loans, or hybrid financing models to support projects spanning education, healthcare, cultural infrastructure, sustainable mobility, energy efficiency, and waste and water management.

Each individual project will be eligible for a maximum financing amount of €22 million, with recovery periods of up to 15 years for equity investments and 20 years for debt instruments. The full investment cycle is set to continue through December 2030.

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A Platform for Long-Term, Impact-Driven Investment

The EIB’s initiative is rooted in the belief that resilient urban centers and a forward-looking tourism sector are key to regional economic recovery, job creation, and sustainable development.

Inés Carpio, Director General of International Financing at Spain’s Ministry of Economy, Trade and Enterprise, remarked:

“The signing of these agreements consolidates the implementation of the Regional Resilience Fund's intermediated instrument, extending its scope to new specialised financial intermediaries. This is an important step in continuing to channel European funding towards projects with a real impact in key areas such as affordable housing, urban regeneration, and sustainable tourism.”

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Private Sector Commitment to Sustainability and Inclusion

Alejandro Nuñez, Managing Partner for Alternative Investments at A&G, highlighted the institution’s readiness to responsibly manage the new capital:

“We appreciate the trust placed in us by an investor of such exceptional prestige as the EIB. Over the last few years, A&G has developed a respected real estate investment platform in Spain. This mandate allows us to promote affordable rental housing while also supporting sustainable initiatives and generating local employment.”

The selected financial intermediaries will be tasked with identifying and managing projects across Spain, including in cohesion regions, where economic development lags behind the national average. This geographic focus supports regional convergence, one of the EU’s central cohesion policy goals.

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A Broader Commitment to Urban Resilience and the Green Transition

This agreement marks the fifth project in Spain under the “Growth for Midcaps” EIB instrument, underscoring the Bank’s determination to support the real economy while driving green and social investments at the local level.

The initiative also plays a critical role in helping Spain meet its 2030 climate and sustainability targets, while enabling the transformation of urban environments into hubs of innovation, inclusiveness, and resilience.

As Europe’s cities evolve in response to demographic shifts, climate change, and economic transition, the EIB’s strategic partnerships with actors like A&G and AEXX Capital provide a powerful blueprint for future-ready investment models.