BPIFRANCE GREEN LEASING - LOAN FOR SMES

The operation consists of a Multiple Beneficiary Intermediated Loan (MBIL) of up to EUR 300m to Bpifrance - the French National Promotional Bank (NPB) for private companies. The MBIL will support small and medium-sized enterprises (SMEs) and mid-caps in France acquiring mobile equipment through leasing, mainly with green characteristics.

The aim is to enhance access to finance for target final beneficiaries. 50% of the intended expenditure will focus on Climate Action and Environmental Sustainability objectives.

This Project supports Bpifrance, the French National Promotional Bank for private sector development, in providing access to finance to French Small and Medium-sized Enterprises ('SMEs'), as well as Mid-caps, when seeking finance via loans or leasing for equipment in line with EIB's Climate Action and Environmental Sustainability ('CA&ES') characteristics.

Bpifrance plays an important role in the French economy, it is mandated to create an advantageous environment for enterprises mainly by providing financing in the form of loans and equity participations. The equipment to be financed under this Project is compatible with EIB's Green Eligibility criteria, such as transport (constituting about 70.0% of the intended Project), manufacturing industry, waste management, agriculture & forestry, and others (logistics). The CA&ES share is set at 50.0% of the EIB loan. The latter will also benefit EIB Cohesion Priority Regions for approximately 30.0% of the underlying investment.

Given the difficulties that French small businesses experience to access financing, including for equipment having 'CA&ES characteristics', the Project aims to ease this situation and addresses this market failure.

The Project supports the EU's and the EIB's priorities in relation to Climate Change mitigation. It also supports Bpifrance's Climate Plan to foster green and digital transition in France.

Finally, this EIB loan has features that are not easily found on the market. Additionally, Bpifrance will receive technical assistance support from EIB's Advisory Services via the Green Eligibility Checker Tool.

The operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring Environmental, Climate and Social (ECS) risks related to the potential sub-projects benefitting from EIB support. The final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.

The final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.