France: Caisse des Dépôts - EIB: EUR 2bn for local authorities and environmental and energy transition

In the presence of Minister of Finance and Public Accounts Michel Sapin, the European Investment Bank (EIB), represented by President Werner Hoyer, and Caisse des Dépôts, represented by Deputy CEO and Director of Savings Funds Odile Renaud-Basso, signed a major partnership agreement which will enable EU funds to be deployed at the heart of the regions, especially in support of small and medium-sized local authorities and the environmental and energy transition.

The European Investment Bank, together with Caisse des Dépôts, is providing a EUR 2bn credit line. Thanks to this financing facility, Caisse des Dépôts will be able to grant through its Savings Funds Department fixed-rate loans on attractive terms on top of its existing offer. This operation reinforces the partnership between Caisse des Dépôts and the European Investment Bank, which was set up in 2013 to restore growth and employment throughout the regions.

The credit line will help to facilitate access to European finance, particularly for small and medium-scale projects of less than EUR 25m, promoted by local authorities. La Caisse des Dépôts will be able to advance loans for financing long-term investment projects. It welcomes this opportunity to contribute to the nationwide deployment of European funds to support investment. Under this EIB loan, Caisse des Dépôts is expanding its loan offer for the public sector with fixed rates to complement its existing range, which is index-linked to the French public savings account Livret A. This partnership bears out the complementarity between Caisse des Dépôts and the EIB as long-term financiers of investment in the France regions.

The EIB funds will thus help to improve access to long-term finance for small-scale investments, particularly for energy efficiency measures on buildings, water supply and wastewater management networks, social housing and measures to limit the effects of climate change.

“This is an exceptional financing operation,” said EIB President Werner Hoyer when signing the agreement, “designed to support investment and growth at the heart of our regions. The EIB has already contributed to the financing of facilities such as hospitals, universities, schools and railways. Under this new facet of its partnership with Caisse des Dépôts, it will now be helping to finance the investment projects of smaller local authorities – precisely those that have hitherto had most difficulty obtaining access to EIB finance."

“With this new facility, Caisse des Dépôts is strengthening its offer for the regions, by enabling them, in particular, to accelerate their environmental and energy transition. We will propose a new attractive loan to the local public sector, tailored specifically for small and medium-sized public authorities and also for low-rent housing organisations in addition to our range of “green” loans, including the interest-free eco-loan for social housing”, said Deputy CEO and Savings Funds Director of Caisse des Dépôts Odile Renaud-Basso.