Brussels, 22/12/2009 (Agence Europe) - On Friday 18 December, the European Investment Bank (EIB) and Crédit Agricole signed a number of contracts opening up credit loans worth a total amount of €450 million. These loans are aimed at supporting investment in local bodies and small medium sized enterprises (SME).
As part of the urban renovation projects scheme for improving accommodation and social housing, which is subsidised by the Agence Nationale pour la Rénovation Urbaine (ANRU), the EIB has implemented a credit line of loans worth €600 million exclusively for public investment in this domain, in partnership with Crédit Agricole, Dexia and the Banque Populaire -Caisse d'Epargne group. Local bodies and social housing organisations will therefore be able to provide loans worth a total amount of €150 million from Crédit Agricole in conditions provided by the EIB, with the aim of renovating and improving the quality of social housing in working class areas. Funding will also help local bodies that have adopted an approach for reducing CO2.
The EIB has also granted Crédit Agricole a credit line of €300 million to help companies in the private sector in France employing a staff of less than 250 and which work in agriculture, industry and services to obtain loans from Crédit Agricole set at very advantageous rates by the EIB. Loans will go towards material or immaterial investment necessary for these companies' development. (O.L./transl.fl)