Ambroise Fayolle, Vice-President of the European Investment Bank (EIB), travelled to Pointe-à-Pitre in Guadeloupe on Monday 3 December to sign two major operations with local operators:

  • A EUR 60 million loan granted to Société Aéroportuaire Guadeloupe Pôle Caraïbes SA (SAGPC) to finance the first tranche of its expansion. These works provide for the extension and reconfiguration of the passenger terminal, the overhaul of its shops and restaurants, the purchase of equipment meeting new safety standards and the reconstruction of the airport’s taxiways.
  • A EUR 30 million credit line to Crédit Agricole to boost its support to SMEs and mid-caps hit by Hurricanes Irma and Maria, which devastated the French Antilles in late 2017. This credit line – which will be supplemented by EUR 30 million contributed by Crédit Agricole SA – will be made available to the Caisses Régionales of the affected areas (Martinique, Guadeloupe and Saint Martin) and will enable SMEs and mid-caps to borrow at very attractive interest rates for future investment.

The EIB is the bank of the European Union and enjoys the highest possible rating from the rating agencies (AAA), which enables it to borrow at favourable terms on the financial markets and pass on the benefits to its partners.

These two loans have a combined total of EUR 90 million and demonstrate the EIB’s very strong commitment in the French Antilles. The loan to Société Aéroportuaire Guadeloupe Pôle Caraïbes falls under the European Fund for Strategic Investments (the Juncker Plan) whilst the loan to Crédit Agricole comes under the EIB's overall strategy of strengthening its support for small and medium-sized enterprises and stepping up its activity in cohesion regions.

More generally, these operations are in response to the call made by the President of the European Commission, Jean-Claude Juncker, at the 22nd Conference of the Presidents of the Outermost Regions in October 2017 for Europe to increase its investment in these regions.

“The extension of Pointe-à-Pitre Pôle Caraïbes Airport is expected to generate 200 direct operational jobs in the long term, not to mention the indirect jobs that will result from the arrival of new tourists”, said EIB Vice-President Ambroise Fayolle. “The credit line granted to Crédit Agricole will help to reduce the interest rate on loans granted to SMEs. These are two examples of the concrete actions enable made possible by the EIB and of the positive role that the EU can play in general to develop these regions and improve the well-being of the people living there.”