Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

    Signature(s)

    Amount
    € 60,000,000
    Countries
    Sector(s)
    France : € 60,000,000
    Services : € 60,000,000
    Signature date(s)
    27/05/2021 : € 60,000,000
    Link to source
    Other links

    Summary sheet

    Release date
    15 September 2020
    Status
    Reference
    Signed | 27/05/2021
    20200507
    Project name
    Promoter - financial intermediary
    FRANCE INVESTISSEMENT TOURISME 2
    BPIFRANCE INVESTISSEMENT
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 60 million
    EUR 240 million
    Location
    Sector(s)
    Description
    Objectives

    France Investissement Tourisme 2 is an equity / quasi-equity fund managed by Bpifrance Investissement targeting French small and medium-sized enterprises (SMEs) and small mid-caps in the tourism sector. Since the COVID-19 outbreak, tourism operators face a lack of own resources (all types of junior finance) entailing financial instability and difficulties for investing. The fund will provide support to about 100 SMEs / small mid-caps between 2020 and 2023. This operation consists of a EUR 60m commitment to the fund, and it benefits from the EFSI guarantee (NPB Equity window).

    France Investissement Tourisme 2 is an initiative of Bpifrance Investissement taken in response to the COVID-19 crisis and focusing on tourism investments. FIT2 aims at reaching a target size of EUR 240m. It aims to provide financial support to about 100 tourism operators (SMEs and small mid-caps) lacking the own resources and financial stability to access the necessary funding in order to upgrade or expand their business, even more so after the outbreak of the COVID-19 crisis. Bpifrance Investissement will typically target enterprises with solid fundamentals, which have been impacted negatively by the COVID-19 crisis, and follow three objectives: (i) support their recovery with equity / quasi-equity funding, (ii) help their transformational efforts to invest and innovate towards tomorrow's forms of tourism comprising sustainable and greener approaches, smarter and digitalised processes, resource-efficient renovations etc. and (iii) contribute to the emergence of larger and more resilient players through organic and external growth.

    Environmental aspects
    Procurement

    The renovation of touristic premises is expected to represent a significant share of the investments made by the France Investment Tourism 2's investee companies, which should, in many instances, entail positive environmental externalities in terms of energy savings and CO2 emissions. In addition, the development of greener and more resource-efficient infrastructure and activities is increasingly requested by market demand, and in line with the EU's policies regarding tourism.

    Portfolio companies will all be SMEs or mid-caps not operating in the utilities sector and not having a status of a contracting authority. Therefore they will be not be subject to EU public procurement directives.

    Related documents
    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).

    scoreboard - FRANCE INVESTISSEMENT TOURISME 2
    Publication Date
    12 Oct 2021
    Document Language
    English
    Main Topic
    lending
    Document Number
    150233153
    Document Focus
    EFSI legal requirements
    Document Type
    Scoreboard
    Project Number
    20200507
    Last update
    13 Oct 2021
    Sector(s)
    Services
    Countries
    France
    Publicly available
    Download now
    Link to source
    Other links

    News & Stories

    Link to source
    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.

    Related publications