The EIB signed today in Paris an agreement with Réseau Ferré de France and SYNERAIL, pledging EUR 280m in support of the French rail network under the first public-private partnership (PPP) contract in this sector in France amounting to EUR 1bn.
With the signature of this agreement, the EIB confirms its commitment to the safety and performance of the French rail network. The financing of this project will go towards the construction and operation of an innovative digital telecoms network – the GSM-R (Global System for Mobile communication – Railway) – set to cover 14 000 km of track by 2015. This loan will ensure the project’s viability over 15 years on the best possible borrowing terms.
EIB Vice-President Philippe de Fontaine Vive welcomed the fact that the EIB, the leading bank for PPPs in Europe, is making available its expertise and financial resources to the French rail sector, particularly for an innovative project that will have a direct impact on passenger safety.
Note to editors:
The safety and competitiveness of trans-European transport networks – a priority for the EIB
The EIB is the European Union’s long-term financing institution, which is active in the EU’s 27 Member States and more than 130 other countries worldwide. With the signature of this agreement with Réseau Ferré de France and SYNERAIL, the EIB confirms its commitment and position as a leading financier of trans-European transport networks, one of its priority tasks to which it has devoted some EUR 125bn in financing. This initiative also forms part of the EU’s proactive policy of improving the movement of people and goods within the Union. The EIB is involved in all major infrastructure projects in Europe, including those implemented in the form of PPPs.
Since 1990, the EIB has contributed enormously to PPP financing in Europe, both in sectoral and geographical terms, with loans totalling some EUR 32bn over the past 10 years.