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    € 60,000,000
    France : € 60,000,000
    Services : € 60,000,000
    Signature date(s)
    27/05/2021 : € 60,000,000
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    Summary sheet

    Release date
    15 September 2020
    Signed | 27/05/2021
    Project name
    Promoter - financial intermediary
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 60 million
    EUR 240 million

    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

    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.

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    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).

    Publication Date
    12 Oct 2021
    Document Language
    Main Topic
    Document Number
    Document Focus
    EFSI legal requirements
    Document Type
    Project Number
    Last update
    13 Oct 2021
    Publicly available
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