- A €200 million loan will finance the upgrade and extension of Nantes’ tram and the development of cycle paths.
- It aims to strengthen the quality and diversity of public transport provision in the Nantes area, offering an alternative to private cars.
- The loan comes with a €30 million grant from the European Commission under the Just Transition Mechanism.
Nantes Métropole has taken out a €200 million loan from the European Investment Bank (EIB) for public transport and cycle paths, aiming to offer users more efficient, affordable and environmentally friendly transport services.
This funding package supports several of the Métropole’s projects promoting alternatives to private cars: work to upgrade 3.2 km of tram routes on lines 1, 2 and 3 together with the purchase of 46 new Citadis trams, which will gradually replace older units; the construction of the new Babinière tram technical and operations centre (CETEX) with a new, redeveloped multimodal interchange hub and park and ride; and the creation of 38 km of a total of 50 km of cycle paths planned by the Métropole.
This EIB loan has a 30-year term and comes with a €30 million grant from the European Commission under the Just Transition Mechanism. This mechanism makes it possible to finance public investment in European regions for the transition to a low-carbon economy, with €1.5 billion of grants funded by the EU budget.
Nantes Métropole is participating in the European Union’s mySMARTLife project (sustainable mobility infrastructure for low emissions and quality services), the main goal of which is to foster the development of a more sustainable city, the reduction of CO2 emissions and the development of renewable energies via innovative solutions in the mobility, energy and digital fields.
“I thank the EIB for its firm and clear support for the environmentally friendly path our city has taken,” said Mayor of Nantes and President of Nantes Métropole Johanna Rolland during a signing ceremony with EIB Vice-President Ambroise Fayolle held on the sidelines of the metropolitan council. “Our investment in developing sustainable mobility is huge. It totals €1 billion under the current mandate, 20% of which will be financed by this loan, making travel in the 24 municipalities of our Métropole easier, cheaper and less polluting.”
“The EIB is supporting regional authorities in their green transitions,” added EIB Vice-President Ambroise Fayolle. “These investments that the EU climate bank is helping to finance are completely in line with this approach. They will have a direct and tangible impact on the daily lives of residents and users in the Nantes area. This shows that EU action can improve people’s quality of life and well-being.”
Background information
About Nantes Métropole
Nantes Métropole is home to 656 275 people across its 24 municipalities. It is rolling out its urban transport plan 2018-2027, which prioritises multimodal transport and sustainable development. The Métropole is investing to improve interconnections on its public transport network and facilitate use beyond the city's ring road. The goal is also to make 70% of its roads into quiet routes by 2027 by promoting soft mobility in the local area and more rational and limited use of private cars. Nantes and its Métropole aim to create a new development model to address the democratic, green and digital transitions.
About the EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its 27 Member States. It provides loans to the public and private sectors for sound investment contributing to EU policy goals. In 2023, France received more EIB financing for the energy and green transition than any other country, with an overall investment of €6.9 billion for renewable energy, clean mobility and energy efficiency. A partner of regional authorities, last year the EIB directed €2.3 billion in funding to rail and urban public transport and soft mobility, making it the number one sector in terms of EIB investment in France over the year.
