CA MOBILITY LOAN 4SMES & MIDCAPS CLIMATE ACTION

Promoteur – Intermédiaire Financier

CA CONSUMER FINANCE SA,CREDIT AGRICOLE LEASING & FACTORING

Lieu

• France

Description

The operation is aimed at supporting Climate Action projects promoted by small and medium sized enterprises in France linked to the acquisition of low emission vehicles over the period 2023-2025.

Additionality and Impact

The loan will provide funding to Crédit Agricole Group to generate additional lending to French SMEs and Midcaps (maximum 30%). Fully dedicated to finance new leasing of low emission vehicles, including Battery Electric Vehicles and Plug-in Hybrids Electric Vehicles, the operation is 100% eligible for Climate Action and Environmental Sustainability (CA&ES) and will support EU's economic and social cohesion (58%).

The global economy uncertainties including higher inflation and raising interest rates have exacerbated the difficulties of SMEs/Midcaps to access cost-effective and M/L financing for their energy transition path. EIB financing will help to mitigate these challenges by increasing the financing offer at more attractive terms.

The project contributes to EIB's lending objectives of sustainable and decarbonised road transport consistently with its CA&ES and Transport Lending policies. By reducing GHG emissions, it also addresses the objectives of the French National Energy and Climate Plan (NECP).

The operations underpins the FI's climate strategy, by supporting its lending in targeted sectors and diversifying its financing sources. The FI is financially sound and has a sufficient track record of implementing and allocating EIB products, including thematic loans.

The operation is eligible under Article 309 point (a) projects for less developed regions and point (c) common interest.

Objectifs

Financing low carbon vehicle long term leasing solutions in favour of professionals in small and medium sized enterprises based in France. The main goal of the Project is to accelerate the transition towards low emission vehicles. The Project will generate substantial environmental economic benefits in terms of reduced air pollution, greenhouse gas emissions and noise. The Project will also contribute to support the development of the cleaner automotive industry through the accelerated deployment of cleaner vehicles and, indirectly, their associated infrastructure. The Intermediary has significant experience in the sector and is subject to national regulation of its current activities.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 100 million

Coût total (montant approximatif)

not applicable

Aspects environnementaux

The new vehicles are expected to be much cleaner than the market average. Significant benefits in terms of fuel consumption, reduced polluting and carbon emissions are expected and will be further assessed during appraisal.

Passation des marchés

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Statut

Signé - 21/12/2023