(BRIEF) In 2023, the European Investment Bank (EIB) Group experienced a physically powerful expansion in France, offering just around €12 billion in long-term financing to the personal sector and local authorities. This included €10. 6 billion from the EIB and €1. 4 billion from the European Investment Fund (EIF), mainly aimed at small and medium-sized enterprises (SMEs). France was the second largest recipient of EIB Group financing in Europe, focusing on climate change mitigation, innovation, public services and strengthening the EU. sovereignty. In particular, the EIB has invested particularly in renewable energy, semiconductor technology, fitness and life sciences, virtual infrastructure and sustainable public infrastructure projects. In addition, the EIF has played a very important role in promoting SMEs and promoting competitiveness in various sectors. . The EIB Group’s efforts in France underline its commitment to selling green and sustainable projects while promoting economic expansion and job creation.
(PRESS RELEASE) LUXEMBOURG, February 2, 2024 — /EuropaWire/ — The EIB Group experienced strong expansion in France in 2023, with almost €12 billion in long-term financing provided directly to either the personal sector and local and regional authorities. : €10. 6 billion from the European Investment Bank (EIB) and €1. 4 billion from the European Investment Fund (EIF), which focuses on financing small and medium-sized enterprises (SMEs).
In Europe, France was the second largest beneficiary of EIB Group financing last year. This is the largest market for EIF in 2023 in terms of number of transactions and the third largest in terms of amount of funding.
The main areas of activity of the European Union’s public bank in France in 2023 were loans to fight the climate, adapt to its adverse effects, support innovation and public facilities, as well as sectors that contribute to strengthening the EU’s sovereignty and strategic autonomy.
“The effects of the EIB Group in France last year reflect strong momentum and significant volume growth,” said EIB Vice-President Ambroise Fayolle. “They verify our role in supporting investments in a challenging economic environment. Increasing our investments for the green and energy transition allows us to attract more personal investments to help the EU’s priorities. Our loans in key and cutting-edge sectors, such as renewable energy, semiconductors and electric batteries, contribute to the competitiveness and strategic autonomy of the European Union. In those sectors, but also in education, health, shipping and public infrastructure, it has a real effect on people’s lives.
“With €1. 4 billion invested in SMEs last year, the EIF’s activity in France has been characterised by strong demand, making it one of our busiest markets and the largest market in Europe in terms of number of transactions,” said Marjut Falkstedt, Executive Director of the EIF. Officer. ” The EIF is a key tool for the progress of more competitive, greener and more virtual SMEs, thanks to its core banking activity, which encourages monetary intermediaries to take more risks, and its contributions to many investment budgets that are now largely focused on blank technologies and the green transition.
France, beneficiary of EIB climate and environmental financing
With 64% of its loan volume committed to climate action and environmental sustainability, France will be the largest beneficiary of EIB financing in this area in 2023. This has resulted in a total investment of €6. 9 billion in renewable energy, blank mobility and energy efficiency.
In 2023, the Bank invested €3. 9 billion in France under REPowerEU, an EU initiative to reduce Europe’s dependence on fossil fuels and boost the green transition.
Some of the flagship climate action projects in 2023 included several operations under the InvestEU investment support programme that aims to mobilise more than €372 billion in public and private financing across Europe by 2027. These were a €450 million loan to finance AESC’s electric vehicle battery gigafactory in Douai, and €250 million for energy company Sorégies for renewable energy and distribution network upgrades. The EIB contributed €150 million to the first issue of green bonds for automotive supplier Valeo and invested €442 million to develop Engie’s new heating and cooling networks at 16 locations in France.
Increased support for all innovation
Innovation is another essential part of all activity in France. Investment in this area reached €3.9 billion last year. In the semiconductor industry, which is vital for strengthening the European Union’s strategic autonomy in a sector where it still relies too heavily on foreign supplies, the EIB provided €750 million to GlobalFoundries. This investment will help finance its gigafactory in Crolles (Isère). The factory will produce large-scale FDSOI chips requiring less energy. These chips are used in many sectors including the automotive sector, the internet of things (IoT) and mobile devices.
The EIB continued to invest in the health and life sciences sector by financing four medtechs in 2023, with a total of €95 million: Germitec (technology for the disinfection of medical probes with ultraviolet light), SafeHeal (postoperative treatment of colon cancer), Quantum Surgical (surgical robot for removing liver cancer tumours) and Wandercraft (walking exoskeleton for medical rehabilitation).
In virtual infrastructure, the EIB has provided €500 million for the deployment of Orange’s 4G and 5G mobile networks, €300 million for Iliad’s 5G networks and €150 million for investments in Auvergne Numérique’s ultra-fast Internet package. Loan of €250 million to Amadeus, a global leader in generation for the travel industry, for its investment in IT research and development.
Supporting sustainable public sector investment
As a partner of local and regional authorities, the EIB committed €4. 5 billion for investments in more sustainable public infrastructure (42% of financing) in 2023. This included €2. 3 billion for public shipping, the sector that received the highest amount of EIB loans in France. The EIB is also offering €1 billion to finance line 15 south of the Grand Paris Express metro. With a total length of 33 km, the line will cross 22 municipalities and serve more than 1 million people living in Île-de-France. It is scheduled to become operational by the end of 2025. The EIB is also supporting Nantes, Strasbourg and Tours in their urban maritime transport projects. In rail transport, it has signed financing agreements with the Centre-Loire Valley, the Grand Est and Nouvelle-Aquitaine. and Sud for a total amount of €825 million.
In the school sector, which is developing strongly with more than €900 million in investments until 2023, it will contribute to the financing of the CentraleSupélec campus in Saclay and the INSEAD in Fontainebleau. In secondary education, the EIB will finance the studies Projects for the Structure and Renovation of Secondary Schools in five departments and the best schools in Ile-de-France.
The EIB also signed two new intermediated loans with the Caisse des Dépôts group in 2023 for a total amount of €1 billion: €500 million for the social housing structure and €500 million to finance public services for local authorities.
€1. 4 billion from the EIF for small and medium-sized enterprises
Dedicated to supporting bank pledges and investment funds for SMEs, the EIB, a subsidiary of the EIB Group, invested €1. 4 billion in France last year, representing 9. 4% of its global financing. The 20 bank guarantee operations mobilised €689 million. Equity fund investment agreements provided €674 million to startups specializing in infrastructure, deep tech, clean technologies, and regenerative agriculture.
In total, across all activities, the EIB Group directly supported or supported more than 52,000 SMEs in France in 2023, helping to safeguard 450,000 jobs.
EIB Annual Investment Survey
Climate change is increasingly becoming a reality for French companies. Almost nine out of ten (89%) of them are taking action to reduce their greenhouse gas emissions and 61% of companies surveyed believe climate events have an impact on their business. But fewer than four in ten (36%) have taken steps to strengthen their resilience to climate risks. Energy costs (84%), the availability of skilled staff (83%) and uncertainty about the future (80%) were identified as the main long-term barriers to investment.
Background information
About the EIB
The European Investment Bank (EIB) is the European Union’s long-term lending establishment, owned by its 27 member states. It provides investments for sensible investments that contribute to the EU’s policy objectives.
About the EIF
The European Investment Fund (EIF) is part of the EIB Group. Its main objective is to help SMEs access finance. The EIF designs and deploys venture capital, expansion capital, guarantees and microfinance tools in particular for this market segment. Its activities in the EU are aimed at innovation, studies and development, business creation, expansion and task creation.
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SOURCE: European Investment Bank
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