Release date: 2 October 2023
Promoter – Financial Intermediary
ARKEA BANQUE ENTREPRISES ET INSTITUTIONNELS,ARKEA CREDIT BAIL SAS,CREDIT MUTUEL ARKEALocation
Description
The operation consists of multiple beneficiary intermediated loan (MBIL) to support small and medium-sized enterprises (SMEs) and mid-caps in France. 30% of the facility will be dedicated to climate action and environmental sustainability projects.
Additionality and Impact
The MBIL operation will support French SMEs and MidCaps, addressing important market failure preventing their access to finance especially given the current macroeconomic environment. The minimum 30% Climate Action and Environmental Sustainability component (CA&ES) as promoted by SMEs and MidCaps will help in contributing to EIB's lending priority objective. The proposed operation will contribute to the EIB Climate Strategy by boosting investments aimed at tackling Climate Change and by increase Climate Change awareness.
In addition, a transversal objective on improving access to finance in less developed and transition regions of France (cohesion areas) is marked considering the domestic and regional footprint on such areas of Credit Mutuel Arkea.
The Intermediary is an experienced EIB counterparty, able to properly allocate EIB funds to the targeted final beneficiaries, also with respect to the focus on the CA&ES component considering the proposed operation as the second Climate-dedicated project towards Arkea.
Objectives
The aim is to enhance access to finance to the target beneficiaries, of which 80% located in Cohesion Regions.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 22/12/2023
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).