At the H’expo trade fair in Paris, La Banque Postale and the European Investment Bank (EIB) announced the signing of an initial €100 million tranche of financing. It is part of a broader €300 million package to finance energy-efficient renovations of social housing and buildings in the public and social economy sectors. This partnership aims to support the energy transition and address the major climate and social challenges facing the sector.
La Banque Postale and the EIB are strengthening their cooperation, aiming to accelerate the energy transition in France by actively tackling energy-inefficient buildings and reducing energy bills.
Over the next four years, the €300 million financing package will support social landlords, local public enterprises, associations and healthcare stakeholders in the energy-efficient renovation of their building stock, with loans offered at preferential rates. Eligible projects include the renovation of social housing and public buildings, for amounts of up to €40 million and maturities of up to 25 years.
Meeting regulatory and social challenges
Renovating energy-inefficient social housing is one of the major challenges of the French climate and resilience law: nearly 1.8 million[1] social housing units classified as G, F and E need to be renovated by 2034, otherwise they can no longer be rented out. In addition, the new French environmental regulation, known as RE2020, will gradually apply to all new and renovated public buildings from 2026, including libraries, universities, nurseries, hospitals and sports facilities.
In response to these ambitious national and EU targets, and in line with its commitment to a just transition, La Banque Postale is stepping up to help its customers with their energy transition projects. It already works with 80% of social landlords and is a leading financier of the public and social economy sectors in France.
The EIB’s energy lending policy is built around four key areas for the green transition: energy efficiency, renewable energy, innovation and energy infrastructure. In 2024, the EIB financed energy efficiency projects to the tune of €7.5 billion, out of a total of more than €28 billion allocated to the energy sector.
A long-term partnership serving local communities
This new agreement continues the partnership that began in 2015 between La Banque Postale and the European Investment Bank. Together, they have already mobilised more than €1 billion to support major local projects in the energy transition, infrastructure, renewable energy and sustainable mobility.
Chair of the Management Board of La Banque Postale Stéphane Dedeyan said: “This new agreement with the European Investment Bank marks a major milestone in our mission to promote a just and inclusive energy transition. By supporting the renovation of social housing and the most energy-intensive public buildings, La Banque Postale is taking concrete action to improve the daily lives of millions of French people, reduce the carbon footprint of our regions, and strengthen social cohesion. We are proud to support our customers – social landlords and the local public sector – in this essential transformation towards a more sustainable society.”
EIB Vice-President Ambroise Fayolle said: “Modernising social infrastructure, including housing, schools and hospitals, is one of the EIB Group’s top priorities. Supporting the green transition is not just about building new structures, but also about upgrading what is already there. Between 2020 and 2024, the EIB helped renovate 400 000 homes across Europe with energy-saving improvements. This new agreement with La Banque Postale allows us to further support France’s efforts to renovate housing and public buildings.”
Background information
About the European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, a stronger Europe in a more peaceful and prosperous world and Europe’s capital markets union. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. In France, the EIB Group signed more than 100 agreements in 2024, totalling €12.6 billion. Almost 60% of annual EIB Group financing supports projects that contribute to climate change mitigation and adaptation, and a healthier environment.
EIB’s commitment to strengthening the European housing sector
The EIB Group works closely with the European Commission, national governments, towns and cities and promotional banks to strengthen Europe’s housing sector, providing the financing and expertise to build more innovative, energy-efficient and affordable homes. The EIB Group’s approach to affordable housing centres on three key priorities: supporting innovative and sustainable construction, renovating Europe’s ageing housing stock, and building new affordable homes.
To speed up progress, the EIB Group has launched a housing action plan to increase financing, provide end-to-end support and bring solutions to market faster. To make it easier for local authorities, promoters and communities to access this support, the Group has created the online portal More homes. Better homes, offering advice, financing and grants for the housing sector.
For a full overview of the EIB Group’s affordable housing initiatives in Europe, see More homes. Better homes.
About La Banque Postale
La Banque Postale, along with its subsidiaries including CNP Assurances, is a major international bancassurance group – the 12th largest in the eurozone by the size of its balance sheet. Its diversified business model enables it to support 18 million customers in France, including individuals, corporates, institutions and local public sector bodies. A subsidiary of La Poste Group, La Banque Postale is a local bank, with more than 17 000 contact points nationwide, including nearly 7 000 post offices. Its La Banque Postale 2030 strategic plan sets the goal of becoming France’s favourite bank and a leader in impact finance, with a comprehensive, multi-channel range of bancassurance services under its two brands: La Banque Postale (its retail bank) and Louvre Banque Privée (its private bank). La Banque Postale is accelerating its diversification strategy and developing its expertise, particularly in asset management, insurance, consumer credit, and corporate and local development banking. Drawing on its civic identity, La Banque Postale is working towards a just transition by putting environmental and social impact objectives at the heart of its governance. An entreprise à mission (a company with environmental and social objectives) since March 2022, La Banque Postale aims to achieve net zero emissions by 2040. It is in the top rankings of the non-financial rating agencies.
[1] According to l’Union sociale pour l’habitat, the French social housing union.