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Signature(s)

Amount
€ 150,000,000
Countries
Sector(s)
France : € 150,000,000
Credit lines : € 150,000,000
Signature date(s)
20/12/2023 : € 150,000,000
Link to source
Other links

Summary sheet

Release date
27 December 2023
Status
Reference
Signed | 20/12/2023
20230360
Project name
Promoter - financial intermediary
CASA LOAN FOR SMES & MIDCAPS INNOVATION
CREDIT AGRICOLE SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
not applicable
Location
Sector(s)
Description
Objectives

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.

Additionality and Impact

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.

Environmental aspects
Procurement

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.

Milestone
Under appraisal
Approved
Signed
16 October 2023
20 December 2023
Link to source

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).

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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