- This agreement will mobilize €800 million for small and medium-sized enterprises (SMEs) and mid-cap companies in the overseas territories, thanks to a €400 million loan from the European Investment Bank (EIB).
- It also aims to accelerate the economic recovery of Mayotte, while supporting sustainable projects throughout the overseas territories.
This operation is the first signed by the EIB with BRED Banque Populaire to support the development of overseas territories. The EIB is thus granting €400 million in financing to BRED Banque Populaire, with an initial tranche of €100 million just released, which will allow the mobilization of €800 million for the benefit of overseas companies.
The objectives of this partnership are to:
- Facilitate access to credit for overseas SMEs and mid-cap companies through dedicated financing lines.
- Support the reconstruction of infrastructure and the economic recovery in Mayotte.
- Support energy transition, territorial resilience, and adaptation to climate change through sustainable investments. A minimum of 20% of the envelope will be allocated to projects with a positive environmental impact.
- Stimulate local employment and the investment capacity of local economic players.
Ambroise Fayolle, vice-president of the European Investment Bank, said: “The EIB and BRED Banque Populaire are long-standing partners, and are today joining forces to support overseas SMEs. We are also proud that, for the first time, this partnership places a particular emphasis on financing climate projects, focusing on energy efficiency for buildings, renewable energy sources, and climate change adaptation.”
“We are particularly proud to sign this first agreement with the EIB to support the development of the overseas territories. This agreement illustrates our desire to actively contribute to the success of the transition and growth projects of overseas companies that are shaping the future of these territories,” said Jean-Paul Julia, Chief Executive Officer of BRED Banque Populaire.
Background information
About the European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, a stronger Europe in a more peaceful and prosperous world and Europe’s capital markets union. 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. In France, the EIB Group signed more than 100 agreements in 2024, totalling €12.6 billion. Almost 60% of annual EIB Group financing supports projects that contribute to climate change mitigation and adaptation, and a healthier environment.
About BRED Banque Populaire
BRED Banque Populaire is a cooperative popular bank, a member of the BPCE Group, with more than 200,000 cooperative shareholders, €7.1 billion in equity, and 7,300 employees – 40% of whom are outside France and in the overseas territories. It operates in Île-de-France, Normandy, and the overseas territories, as well as through its commercial banking subsidiaries in Southeast Asia, the South Pacific, Africa, and Switzerland. A locally committed bank, it deploys a network of 481 branches in France and internationally. It maintains long-term relationships with 1.6 million clients. BRED Banque Populaire brings together diversified activities – retail banking, corporate and institutional banking, private banking, international banking, trading room, asset management company, insurance company, and international trade finance bank. In 2024, BRED Banque Populaire achieved consolidated net banking income of €1.47 billion and net income of €391 million.