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Signature(s)

Amount
€ 66,000,000
Countries
Sector(s)
France : € 66,000,000
Services : € 66,000,000
Signature date(s)
12/03/2021 : € 6,000,000
13/11/2019 : € 60,000,000
Link to source

Summary sheet

Release date
20 August 2018
Status
Reference
Signed | 13/11/2019
20180354
Project name
Promoter - financial intermediary
FONDS TOURISME OCCITANIE
COUNTERPART(S) TO BE DETERMINED
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 66 million
EUR 333 million
Location
Sector(s)
  • Services - Accommodation and food service activities
  • Services - Arts, entertainment and recreation
Description
Objectives

The operation consists in a EUR 60m maximum loan to a fund set up by the French region of Occitanie to support public and private initiatives in the tourism sector. The fund will provide public entities (50% of invested resources) as well as small and medium-sized enterprises (SMEs) and mid-caps with types of loans that are not easily available in the market.

The project will improve access to finance at favourable conditions for SMEs, public entities and public authorities in the tourism sector in the Occitanie Region. It aims at strengthening the competitiveness of SMEs as well as at upgrading obsolete infrastructure and facilities, thus encouraging innovation and the improvement of services to enhance tourists' experience.

Environmental aspects
Procurement

The investments made by the Fund may contribute to generate environmental benefits as some of the investments may include energy efficiency refurbishments of existing public and private buildings. The actual climate action contribution of the project will have to be carefully assessed during the appraisal. Details of the Fund's environmental and social due diligence procedures for ensuring compliance with relevant EU and national regulation and EIB's Environmental and Social Standards as well as the capacity of the Fund Manager to assess and monitor environmental and social risks and impacts, will be reviewed during the appraisal. The Fund will be required to develop an environmental & social policy and establish the appropriate management systems so as to comply with the environmental and social requirements of the Bank. The assessment of the environmental and social impacts and risks will be part of the standard due diligence process that the Fund will have to carry out for each underlying investment, thereby ensuring that the portfolio and these investments are in compliance with national law, EU environmental legislation as well as the EIB Environmental and Social Standards.

The Bank will require the Fund Manager to take all the requisite measures to ensure that contracts for the implementation of the projects financed by the Fund will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/23/EU and/or 2014/24/EU, where applicable, as well as Directive 89/665/EEC) as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.

Link to source
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - FONDS TOURISME OCCITANIE
Publication Date
25 Sep 2019
Document language
Main Topic
Lending
Document Number
90685501
Document Focus
Environmental Information
Project Number
20180354
Sector(s)
Regions
Countries
Publicly available
Download now
scoreboard - FONDS TOURISME OCCITANIE
Publication Date
17 Jun 2019
Document Language
English
Main Topic
lending
Document Number
93693810
Document Focus
EFSI legal requirements
Document Type
Scoreboard
Project Number
20180354
Last update
25 Jun 2019
Sector(s)
Services
Countries
France
Publicly available
Download now
Other links

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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