Brussels, 09/06/2009 (Agence Europe) - On Monday 8 June in Paris, Brice Hortefeux, the French minister of labour, social relations, the family, solidarity and urban affairs, Philippe de Fontaine Vive, the vice president of the European Investment Bank (EIB) and Gérard Hamel, the president of the National Agency for Urban Renovation (ANRU), signed a protocol for funding urban renovation.
The EIB will inject €600 million into regional bodies responsible for urban renovation projects, through three banking partners, Dexia Crédit Local, the Caisse Nationale des Caisses d'Epargne and Crédit Agricole. This funding aims to: 1) contribute to sustainable renovation of vulnerable neighbourhoods as part of the National Urban Renovation Programme. The EIB bank has supported this National Urban Renovation Programme since its launch in 2003 by providing it with two framework loans worth €500 each. 2) Support local bodies that have adopted an environmental approach contributing towards the reduction of C02 emissions. Different borough-level authorities that have agreements with ANRU and which have already adopted an environmental approach can benefit from this funding. 3) Participate in the economic recovery plan. The new loan has increased by 20% from €500 to €600 and will also be executed a year earlier than planned.
Representatives from three banking partners were present at the signing of the protocol to the agreement: Pierre Mariani (Dexia), Alain Lemaire (Caisses d'Epargne) and Franck Claeys (Crédit Agricole). Pierre Mariani is the chief executive of Dexia Crédit local and immediately signed the first implementation contract worth €300 million. The signing of the two other financing contracts with the Caisses d'Epargne and the Crédit Agricole are expected to participate over the next few weeks. (O.L./trans/rh)