• This is the EIB’s first loan benefiting self-employed people and regulated professionals in the healthcare and pharmaceutical sectors.
  • With a total amount of €250 million, this partnership will support healthcare professionals as project promoters and SMEs in the healthcare sector facing both an economic and health crisis.
  • At least 20% of the total envelope amount will be allocated to areas facing a shortage of healthcare workers.

On Tuesday, 1 December 2020, the European Investment Bank (EIB) – the EU bank – and Crédit Agricole announced the signature of the first €150 million contract as part of a €250 million global partnership to meet the funding requirements of professionals and self-employed people and small and medium-sized enterprises (SMEs) in the healthcare and pharmaceutical sectors in France. Particular attention will be paid to regions and areas facing a shortage of healthcare workers, with at least 20% of the overall funding specifically dedicated to this national priority.

This financing will target healthcare professionals, supporting them in the development of their businesses, and will help new practitioners set up in areas under pressure and across the regions, grouping them together under dedicated healthcare facilities.

This is the EIB’s first loan in support of projects covering regulated healthcare professions, as highlighted by EIB Vice-President Ambroise Fayolle: “I am very pleased to announce this new financing operation with Crédit Agricole to support project promoters and self-employed people in the healthcare sector. Amid the current health crisis, it is our responsibility to adapt our financing to the urgent needs of these healthcare professionals and to help them develop their businesses. This partnership will also target areas facing a shortage of healthcare workers in order to improve access to care.”

Bertrand Corbeau, Deputy Managing Director of Crédit Agricole S.A. in charge of Development, Client and Innovation, said: “In line with its raison d’être, Crédit Agricole is firmly committed to supporting healthcare professionals, who have been especially in demand during the health crisis. This new envelope from the EIB will enable us to increase our contribution to these professionals’ set-up and development costs, especially in areas facing a shortage of healthcare workers.”

The EIB and Crédit Agricole have built a strong partnership over many years, with the common goal of providing enhanced support to companies and project promoters in regional areas and in key sectors of the French economy, such as agriculture, healthcare and climate action.

Background information

About the European Investment Bank

The European Investment Bank (EIB) is the EU’s long-term financing institution owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

In 2019 the EIB Group was very active in France, providing almost €8.5 billion in financing to support projects in key sectors of the French economy, such as the development of superfast broadband, the environment and the energy transition, training for young people, support for businesses and innovation, and infrastructure modernisation.

About Crédit Agricole Group

Crédit Agricole Group is the French economy’s leading financier and one of the top banking groups in Europe. It is the leading local bank, the top asset manager, the leading bancassurance company and the third-largest project financing operator in Europe.

Crédit Agricole Group is founded on cooperative and mutual principles and has 142 000 employees and 30 000 directors of local and regional banks. It is a responsible and useful bank, serving its 51 million customers, 10.5 million members and 900 000 individual shareholders.

Thanks to its universal retail banking model (there is a close connection between its retail banks and specific business areas), the Crédit Agricole Group supports its customers in their projects in France and worldwide: day-to-day banking, mortgage lending and consumer credit, savings, insurance, asset management, real estate, leasing, factoring, corporate finance and investment banking.

Crédit Agricole serves the economy and is also marked by its dynamic and innovative corporate social responsibility policy. A pragmatic approach permeates the whole Group and each staff member is actively involved.