The European Investment Bank (EIB), represented by Vice-President Ambroise Fayolle and Bpifrance, represented by Executive Director Nicolas Dufourcq, have signed a financing agreement in connection with the activities of the European Investment Advisory Hub (EIAH). This Hub is a one-stop shop offering advisory and technical assistance services to support investment projects in the EU, and is a joint initiative of the European Commission and the EIB.
In concrete terms, the EIB will help finance the fifth session of Bpifrance's SME Accelerator programme. This comprehensive and tailored support programme is designed to meet the needs of dynamic and ambitious companies as they work towards gaining mid-cap status. Among other things, it makes it possible to identify priority areas for growth and to take advantage of leverage points quickly.
This financing agreement is one of the first to be signed by the EIB for the European Investment Advisory Hub, and forms part of the Bank and European Commission's strategy to strengthen the ability of national public banks to provide non-financial support to companies. This agreement will enable Bpifrance to continue intensifying its support strategy for high-potential businesses spearheaded by the Accelerators. Bpifrance has set itself the specific objective of “accelerating” 4 000 French companies by 2021.
“Bpifrance is an important partner for the EIB and the Advisory Hub in France, and we are delighted to be able to strengthen our cooperation with this signature,” explained EIB Vice-President Ambroise Fayolle. “A robust SME and mid-cap ecosystem is key to promoting economic competitiveness and innovation, meaning that it is very important for the EU bank to take part. It is a great example of how European financing and expertise can support local needs for the benefit of citizens.”
Bpifrance Executive Director Nicolas Dufourcq said: “This new agreement between the EIB and Bpifrance is indicative of the close partnership between our two institutions. This cooperation began with financing and guarantee agreements enabling us to multiply our loans to French SMEs and mid-caps, and we are now very happy to extend it to a new field of action by including the EIB in our strategy for providing non-financial support to businesses.”
Note to editors:
The European Investment Advisory Hub (EIAH) is part of the Investment Plan for Europe (or Juncker Plan), a joint initiative of the European Commission and EIB aiming to restore investment to support strategic projects in Europe, thereby ensuring that the funds benefit the real economy. The goal of the Advisory Hub is to improve investment and business conditions in Europe by strengthening the technical and financial means of public authorities and private sector players in EU Member States to identify, prioritise, prepare, structure, consolidate and implement strategic projects.
The Hub is a one-stop shop offering advisory and technical assistance to support investment projects in the EU and makes it possible to benefit from the expertise of the EIB Group, European Commission, national promotional institutions and managing authorities in Member States. It also aims to strengthen cooperation with and between existing or recently created national promotional institutions.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It provides long-term finance in support of quality projects to contribute to the achievement of the EU’s key objectives.