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Aware of the key role of small and medium-sized enterprises (SMEs) in the recovery of growth and employment in France, the BNP Paribas Group and the European Investment Bank (EIB) have decided to strengthen their support for French businesses through a EUR 400m credit line.  The finance contract was signed on Friday 14 March 2014 at the headquarters of the BNP Paribas Group by Mr François Villeroy de Galhau, Chief Operating Officer of BNP Paribas, and Mr Philippe de Fontaine Vive, Vice-President of the European Investment Bank (EIB).

It consists of a large-scale financing operation - EUR 400m in total for 2014 - aimed at promoting the investment projects carried out by small and medium-sized SMEs in the crucial agricultural, industrial and services sectors in France. Thanks to the EIB's "AAA" rating, the beneficiaries of this credit line will have access to favourable financing terms.

"We place entrepreneurs at the heart of our corporate strategy. We also launched this year the '2016 BNP Paribas Entrepreneurs' initiative, under which we announced seven new commitments, making at least EUR 10bn of financing available for businesses. We are delighted to be able to consolidate our partnership with the EIB even further", said Mr François Villeroy de Galhau, Chief Operating Officer of BNP Paribas, responsible for domestic markets.

Mr Philippe de Fontaine Vive, EIB Vice-President, welcomed the signature in the following terms, "I am very pleased to sign today this financing agreement with BNP Paribas, which is a trusted partner of the EIB. Promotion of SMEs is a priority for the EIB. By combining our respective tools and expertise, we can provide French entrepreneurs with effective support. In this way, we are helping them to develop in the heart of the regions. Together, we are creating jobs".

Given the current economic climate and the growing demand for SME financing, the EIB has stepped up its activities in support of French businesses. In 2013, the Group channelled EUR 1.3bn of financing into this sector. Thanks to their leverage effect, these operations generated EUR 5.6bn of investment by more than 150 000 French SMEs and micro-enterprises in 2013.