The purpose of the financing agreement entered into between the Picardy Region and the European Investment Bank (EIB) is to renovate and upgrade the region’s rail network through the acquisition of Regio 2N trainsets.
The EUR 54m finance contract was signed on Monday 27 October 2014 by Claude Gewerc, President of Picardy's Regional Council, and EIB Vice-President Philippe de Fontaine Vive in Amiens at the premises of Faiveley Transport, whose innovative railway equipment has contributed to the technological performance of the Regio 2N trainsets.
Improving user comfort
This EU finance will enable the Picardy Region to acquire seven Regio 2N trainsets. These electric trainsets – which are innovative because of the technological processes used and can accommodate a large number of passengers because of their double-decker design – will be used on the region's busy TER network lines such as Paris-Amiens and Paris-Saint-Quentin. Each trainset will provide seats for 720 passengers and accommodate a further 520 standing passengers during peak periods. The upgrading and redeployment of the current rolling stock will thus make it possible to cope with the ever-increasing number of passengers using the network (up by 4.4% over the past five years). The new trainsets will provide an optimum service for users in terms of performance, safety and comfort, but also in terms of accessibility for persons with restricted mobility.
Using the latest technologies (low electricity and thermal consumption), the Regio 2N trainsets will provide those living in Picardy with an economical and environmentally-friendly alternative to private vehicles.
The Regional Council's President, Claude Gewerc, was delighted with the support from the EIB: "This is good news for three reasons. This support underpins the Region's desire to do everything it can to maintain a high level of investment. It will make life easier for train users on our busiest lines. And it will support economic activity and employment, particularly for companies such as Faiveley, which is a major supplier for Bombardier. This reminds us how vital it is for our economy to preserve the investment capacity of local authorities such as the Region."
At the signing ceremony EIB Vice-President Philippe de Fontaine Vive declared:
"Support for sustainable transport and innovation is one of our priorities for action. That is why I am very glad to be signing today this finance contract with the Picardy Region at the premises of a company that is dedicated to developing innovative processes. By supporting such investment, we are encouraging a revival of growth and employment, while at the same time improving the daily lives of those living in this Region In this way, we are preparing the future of the regions and their younger generations."
Mobilising EIB resources in the regionsAt a time when the EIB is stepping up its activities to promote regional economic development in France, this new EUR 54m long-term loan, which is being provided on attractive terms thanks to the Bank's AAA rating, follows on from an initial EUR 160m loan for the regional rail network and a EUR 250m financing operation for modernising the Amiens CHU (hospital), and brings to EUR 464m the EIB's support for the Picardy Region. This financing operation is part of the EUR 750m investment programme launched by the Bank in July 2013 to facilitate the acquisition of new rolling stock by the French regions. It is the fourth project signed under this wide-ranging programme, following on from the financing operations in the Alsace (2013), Lorraine (2014) and Provence-Alpes-Côte d’Azur (2014) Regions. It echoes the EIB’s unprecedented activity in favour of projects promoting growth and employment in France, for which the Bank already dedicated EUR 7.8bn in 2013 (80% more than in 2012), including EUR 1.3bn to support SMEs and their research, development and innovation (RDI) programmes.