During a meeting at the headquarters of the European Investment Bank (EIB), Deputy Director General of the Île-de-France Region responsible for finance Paul BERARD and EIB Vice-President Ambroise FAYOLLE formalised the disbursement of a EUR 200 million loan to the Region for the renovation and construction of upper secondary schools (lycées).
These operations form part of the financing framework for a multi-annual investment plan (PPI) of the Île-de-France Region, decided by its President Valérie PÉCRESSE in 2016. They are designed to meet the highest standards (HEQ – High Environmental Quality) in terms of improving the energy efficiency of Île-de-France lycées while contributing to improving teaching conditions in certain disadvantaged areas, one of the main objectives of the Europe 2020 strategy, which is supported by the EU bank.
This is the EIB’s second loan to the Île-de-France Region following the financing of tramway infrastructure (EUR 324 million between 2012 and 2015).
This meeting in Luxembourg also provided the two institutions with an opportunity to discuss the development of green and responsible bond issues.
“The partnership between the EIB and the Île-de-France Region has grown considerably over the past ten years, especially with the financing of the tramway and energy-efficiency improvements to housing,” commented EIB Vice-President Ambroise FAYOLLE. “This new operation will make it possible, in particular, to combine two priorities of the EU bank: the fight against climate change by assisting the renovation of public buildings, and increasing the competitiveness of the regions through education.”
“Under the authority of Valérie PÉCRESSE, the Region has undertaken an unprecedented mobilisation of resources in support of the success of young people in the Île-de-France region, with a 90% increase in the budget for lycées since 2016. The loan from the EIB will further reinforce this approach and is fully in line with a 100% green and responsible regional financing strategy stated Deputy Director General of the Île-de-France Region responsible for finance Paul BERARD.