The European Investment Bank (EIB) and Crédit Agricole have signed contracts providing two loans totalling EUR 450m to support investment by local authorities and small and medium-sized enterprises (SMEs).
In partnership with Crédit Agricole, the EIB is providing loans amounting to EUR 150m to local authorities and social housing agencies to support urban renewal projects in France. With regard to the private sector, the EIB is opening a EUR 300m financing facility for SMEs, which will consolidate Crédit Agricole group’s role as the leading financial partner for French businesses.
- Enabling local authorities and social housing agencies to support urban renewal projects in France
In partnership with Crédit Agricole, Dexia and the Banque Populaire/Caisse d’Epargne group, the EIB is arranging a EUR 600m credit facility intended exclusively for public investment in urban renewal projects involving social housing subsidised by the Agence Nationale pour la Rénovation Urbaine (ANRU). The local authorities and social housing agencies will thus be able to take out loans totalling EUR 150m with Crédit Agricole, on favourable EIB terms, for renovating and improving the quality of social housing in working-class areas and in authorities that have adopted a policy of reducing CO2 emissions.
- Supporting investment by small and medium-sized enterprises under the EIB’s SME assistance plan
The EIB is providing Crédit Agricole with a EUR 300m loan facility that will enable independent French businesses with less than 250 employees in the agricultural, industrial or services sector to take out loans with Crédit Agricole, on favourable EIB terms, to support the tangible or intangible investment they need to expand.