During his visit to Fort-de-France for the opening of the EIB’s Caribbean office, Mr Philippe de Fontaine Vive, Vice-President of the European Investment Bank (EIB), announced an agreement with the Groupe Caisse d’Epargne for financing small businesses in Martinique, Guadeloupe, French Guiana and Réunion.
Financière OCÉOR, a subsidiary of Caisse Nationale des Caisses d’Epargne (CNCE) focusing on the overseas departments, is borrowing EUR 50 million from the EIB to finance small and medium-sized enterprises. More specifically, its clientele of SMEs, tradespeople, retailers and self-employed professionals in the overseas departments will be supported through Banque des Antilles Françaises and Banque de la Réunion.
The EIB, the European Union’s development bank, raises large volumes of funds on the financial markets on the keenest terms, which it directs towards furthering EU priorities. Economic and social cohesion in the Member States and the development of SMEs are two of these priorities. As from 2007, the overseas departments are a priority area for France and the EU under the economic and social cohesion heading. The development of SMEs plays a crucial role in job creation and growth in Europe.
The Groupe Caisse d’Epargne (GCE) is one of the largest retail banks in France with its Caisse d’Epargne, Crédit Foncier, Palatine and Financière OCÉOR networks. Financière OCÉOR, a wholly-owned subsidiary, is the Group’s commercial banking arm in the French overseas departments and territories and internationally. It is well established in Martinique, Guadeloupe and French Guiana (through Banque des Antilles Françaises), in Réunion (through Banque de la Réunion) and in the overseas communities (through Banque de Tahiti, Banque de Nouvelle-Calédonie, Caisse d’Epargne de Nouvelle-Calédonie). The OCÉOR network’s banks concentrate mainly on individuals, SMEs, professionals (tradespeople, retailers and self-employed professionals) and local authorities and institutions.