Signature(s)
Summary sheet
- Credit lines - Credit lines
The EIB's dedicated financing to support small and medium sized enterprises in France. This operation will also contribute to a minimum of 50% in innovation and digitalisation to foster sustainable economic growth.
Financing of small and medium sized projects carried out by small and medium sized enterprises and local authorities.
The loan will provide funding to Crédit Agricole Group to generate additional lending to French SMEs and Mid-Caps (maximum 30%) through its Caisses Régionales. Minimum 50% of the facility will be dedicated to RDI/digital projects, and innovation-driven companies.
The uncertainties in the global economy due to the war in Ukraine, higher inflation and energy costs, raising interest rates have further exacerbated the difficulties of innovative SMEs to access cost-effective, long-term finance. Despite being the main players of the French economy, SMEs and Mid-Caps are less equipped than large corporates and face difficulties due to their smaller scale of activities, and the inherent riskiness of innovation activities; these factors led to lower rate of return and higher failure risks.
EIB financing would help SMEs and Mid-Caps to mitigate these challenges by increasing medium and long-term financing offer at more advantageous terms. This support will help to strength their competitiveness and support their resilience through innovation investments and digital transformation projects, both necessary to reindustrialize France on a long-term sustainable basis. The project will support new job creation and SMEs investments, which are lagging behind EU peers in technological development and digitalization.
Crédit Agricole Group has a long experience in SMEs financing across France with a strong track record in allocating EIB financing, including thematic loans.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.