Econostrum | Economic News in the Mediterranean

The EIB to lend €7 billion to France in 2013

Written by Frédéric Dubessy on Monday, March 25th 2013 à 11:07 | Read 1561 times

Having given €4.3 billion in loans to France in 2012, The European Investment Bank will have a budget of €7 billion in 2013.

FRANCE. In 2012, The European Investment Bank (EIB) spent €4.3 billion on projects throughout France compared to €4 billion on average during the last decade.

This activity is set to continue in 2013, particularly in key sectors such as small and medium enterprises, universities (mainly Operation Campus), hospitals and housing. “The EIB will make available all the tools at its disposal to boost growth and employment in France. We assist communities and urban communities by supporting specific, sustainable projects that have a direct impact on the economic development and social cohesion of the area”, said Philippe de Fontaine-Vive. “We will also be closer to the managers and project initiators to be able to create employment with them, whilst supporting them through a diverse range of financial tools”, the Vice-President of the Luxembourg bank said.
It will therefore inject €7 billion into “France’s real economy” in 2013. This increase in commitment has been made possible by the decision of 28th June 2012 by European Union Member States, to increase the EIB’s capital by €10 billion releasing, through leverage, €60 billion of additional funding. This will enable the project developers to achieve €180 billion of new investment in Europe.

Sustainable infrastructure, innovation and SMEs

The EIB to lend €7 billion to France in 2013
In 2012, the bank was involved in thirty-eight operations in France with micro-enterprises, sustainable transport, urban development, energy and energy efficiency as priorities.
Of the €4.3 billion loaned, €2.79 billion were for sustainable infrastructure, €773 million for innovation and €770 million for SMEs.
As regards sustainable infrastructure, the EIB has invested in public transport (HSLs, metros and trams), facilitated energy transition, modernised schools, taken part in the promotion of alternative energy or other energy sources (electrical interconnection between France and Spain) and has contributed to public planning in Greater Lyon and Lille. 

Financing industrial and technological innovation has focused on four projects: Renault electric vehicles, the development of Autolib with the Bolloré group, the deployment of the Free network and optimising the management and sale of tourist services with Amadeus.
Finally, the EIB lends money indirectly to SMEs through credit lines reserved for them in banks such as Société Générale, the BPCE Group (Banque populaire and Caisse d'épargne), Crédit Mutuel Arkea and Crédit coopératif. It also takes equity stakes (€265 million in 2012) in small and micro-enterprises through its subsidiary, the European Investment Fund (EIF). The EIF has provided seed capital for Demeter 3, Elaia Alpha, OP Ventures, Astra II.

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