Brussels, 23/11/2012 (Agence Europe) - A European Investment Bank commitment of €800 million for education, sustainable development and renewable energy was announced on Thursday 22 November by the Aquitaine region of France and the European Investment Bank (EIB). This is one of the EIB's largest loans to a French region, targeting primarily lycées and training institutes, small and medium-sized enterprises (SMEs) and micro-enterprises. Given the current credit squeeze, the major advantage of these financing operations is that they will enable the Aquitaine Region to be granted loans with a long maturity on favourable financial terms as a result of the EIB's AAA credit rating.
€500 million for lycées and training bodies. The €500 million for lycées and training institutes will focus on expanding the region's public and private educational establishments, upgrading them to meet the required standard and improving their energy efficiency, the key component being the construction of the next lycée to meet the BEPOS (“bâtiment à énergie positive” - positive energy building) standard, the future lycée des métiers (vocational college) in Bergerac (Dordogne). It will also help to significantly improve the energy performance of lycées via the installation of photovoltaic panels on the roofs of the schools, fully complying with the EUROPE 2020 targets. The first instalment, of €150 million, was signed on Thursday.
€300 million for business. The EIB and the Aquitaine region have undertaken to provide €300 million to support the generation of renewable energy and the energy-focused renovation of buildings while at the same time meeting the financing requirements of project promoters in the region. The operation is being financed jointly by the European Investment Bank via a €150 million credit line to be made available to two banking partners - Crédit Agricole and the BPCE (Banque Populaire et Caisse d'Epargne) Group - which will provide additional finance totalling €150 million to co-finance this major regional project in support of renewable energy and energy efficiency. The local banking partners will make a total of €300 million in the form of loans on favourable terms available to project promoters throughout the region. The regional guarantee fund, in partnership with Oséo (a French body for financing innovation and growth for small businesses), will also be mobilised to support initiatives taken by micro, small and medium-sized enterprises. This will help to tangibly improve the financial terms offered to small businesses, including farms. The first instalment of this part of the deal was signed on Thursday, to the tune of €150 billion. (OL/transl.fl)