Luxembourg, 22/05/2007 (Agence Europe) - At the opening of the European Investment Bank (EIB) office for the Caribbean region (see related article), the Bank's Vice-President Philippe de Fontaine Vive announced an agreement with the Caisse d'Epargne group to provide funding for small companies in Martinique, Guadeloupe, Guiana and the island of Reunion.
The Financière OCEOR, a subsidiary of the banking network Caisse Nationale des Caisses d'Epargne (CNCE), operating largely in the French overseas departments (DOM), is borrowing €50 million from the EIB to fund SMEs in the DOM through the Banque des Antilles Françaises and the Banque de la Réunion. The EIB raises substantial volumes of funds at the best market conditions on the financial markets, money which is directed towards European priorities. Economic and social cohesion in member states and development of SMEs are two such priorities. From 2007, the DOM will be the priority area for France and Europe in terms of economic and social cohesion. The development of SMEs is a key priority for the creation of jobs and growth in Europe. The banks in the OCEOR network work principally with individuals, SMEs, professionals (craftsmen, shopkeepers and professional occupations) and local government. (ol)