France: EUR 50m for innovative Mettis transport project in Metz

European Investment Bank (EIB) Vice-President Philippe de Fontaine Vive, and Metz Métropole’s President, Jean-Luc Bohl, signed a EUR 50 million loan agreement to finance the Mettis project.

Thanks to the EIB’s AAA rating, Metz Métropole is benefitting from a highly competitive interest rate and a far longer maturity (25 years) than could be obtained on the market. The loan will finance:

• the installation of 17.5 km of exclusive bus lanes (A and B) on the Mettis network,
• the acquisition of 27 innovative high performance 24-metre bi-articulated hybrid buses,
• the construction of a new maintenance centre and three park-and-ride facilities with scope for expansion.

EIB Vice-President Philippe de Fontaine Vive welcomed the signing of the agreement, saying: “This is a key financing operation for the city of Metz. The EIB is proud to support this innovative high performance project, which will directly foster the city’s sustainable development while providing its residents with an alternative means of transport that improves the quality of their daily lives”.

“Metz Métropole is honoured to receive the EIB’s financial support, which testifies to the project’s technical quality but also to the city’s ability to invest in major infrastructure schemes” added Metz Métropole’s President, Jean-Luc Bohl.

More than just a loan, this financing operation demonstrates the EIB’s growing commitment to assisting France’s local and regional authorities, especially in key areas such as clean urban development and transport, renewable energies and energy efficiency.  In the Lorraine region, the EIB has supported major projects such as the construction of the Robert Schuman hospital in Metz and the LGV Est high-speed rail line.  Since January 2012, through the catalytic effect on its financing partners, the EIB’s support for French local and regional authorities has enabled EUR 5.8 billion worth of investment. This engagement is destined to become even stronger following the European Council’s decision to increase the Bank’s capital by EUR 10 billion.

The EIB’s overall contribution to the Mettis project will reach EUR 80 million by 2013.