The European Investment Bank and the Crédit Agricole Group have launched a multi-year energy transition partnership in France
The European Investment Bank is pleased to be able to roll-out a new energy transition partnership in France with the Crédit Agricole Group via the announcement of an agreement for a first loan instalment of 250 million euros.
With this first instalment, Crédit Agricole Group will be able to offer up to €500 million in financing to SMEs, mid-cap companies, public entities, farms and local authorities to invest in the fight against climate change. When all the credit in the first tranche has been consumed, it should be supplemented by a second instalment in the same amount, providing a total of 1 billion in financing for projects fighting against climate change.
The new partnership between EIB and Crédit Agricole will take the form of various financing products distributed within the Crédit Agricole banking network. It is one of the cornerstones of Crédit Agricole's resolute new energy transition strategy for the coming years. It will also highlight to Crédit Agricole’s customers the role of the EIB – which is the bank of the European Union – in the fight against climate change. It plays this role in large part through partnerships with the private financial sector.
“This agreement marks a new and very important phase for the many-years-long partnership between the CA SA Group and the bank of the European Union,” said Ambroise Fayolle, Vice-President of EIB. Our priorities, at both the European level and that of France, are to finance energy transition and innovation. With Crédit Agricole SA we have an opportunity to give a greater number of SMEs and local authorities access to advantageous loan conditions to help them achieve this energy transition.
For Bertrand Corbeau, Deputy General Manager of Crédit Agricole S.A.: “Through this new partnership, the Crédit Agricole Group is confirming its commitment to supporting energy transition alongside its customers. The strength of our Group lies in its significant support structure within the French territories; our role is therefore to support the energy transition and use our expertise to help our customers change their business models.”
The European Investment Bank (EIB), whose shareholders are the Member States of the European Union (EU), is the long-term financing institution of the EU. The EIB provides long-term funding to support quality investments that contribute to the achievement of the EU's broad objectives.
Crédit Agricole group is the leading financial partner of the French economy and one of the foremost European banks. The Group is not only the leading retail bank in Europe, but also the top European asset manager, the No. 1 banking and insurance group in Europe, and the third-largest project financier in Europe.
With its cooperative and mutual banking roots, 141,000 employees and over 30,000 directors of local and regional banks, the Crédit Agricole Group is a valuable and responsible bank that serves 51 million customers worldwide, 10.17 million cooperative shareholders and 900,000 individual shareholders.
Thanks to its universal banking model - combining close relationships between its retail banks and the specialist expertise of its different business divisions - the Crédit Agricole Group helps its customers achieve their financial objectives in France and around the world: everyday banking, home and consumer loans, savings, insurance, asset management, real estate, leasing, factoring, corporate and investment banking.
Crédit Agricole is also distinguished by its dynamic and innovative corporate social responsibility policy in the service of the economy. The policy is based on a pragmatic approach that permeates the entire Group and puts each employee into action.
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