Brussels, 13/07/2010 (Agence Europe) - The European Investment Bank (EIB) and the heads of four New Caledonian banks - Banque Calédonienne d'Investissement (BCI), Société Générale Calédonienne de Banque (SGCB), BNP Paribas Nouvelle-Calédonie (BNP NC) and Banque de Nouvelle Calédonie (BNC) -signed the Environnementale II credit line for €10 million in Nouméa (New Caledonia) on 8 July 2010. This credit line is a subsidised facility that will enable the four New Caledonian banks to offer better terms for financing projects in the renewable energy, environmental and waste treatment sectors, such as the construction of wind farms or photovoltaic systems or the deployment of more environmentally friendly means of transport. These loans are aimed especially at environmental businesses of all sizes and private firms in New Caledonia with more than 100 employees or generating an annual turnover of over 1.2 billion Pacific francs (€10 million). Furthermore, the EIB has recently joined the GRAINE association, to which it will make available €30,000 to help finance its assistance fund. The Environnementale II credit line has a twofold aim. Firstly, to encourage New Caledonian businesses to preserve the environment, contribute to initiatives to harness energy and promote the development of green energy. New Caledonia still generates only a small amount of energy from renewable sources. It must, however, be capable of meeting ambitious environmental protection objectives, particularly in the context of preserving its lagoon, which is included on the UNESCO World Heritage list. Secondly, to promote diversification of the banks' lending activity by facilitating long-term loans (up to 15 years), thereby improving the return on investment. (O.L./transl.rt)