News
CEB promotes local infrastructure investments in France
21 March 2017
PARIS - The Council of Europe Development Bank (CEB) approved a € 75 million loan to Crédit Agricole S.A. to support public infrastructure investments throughout France.
In the absence of sufficient public funds for building and rehabilitating infrastructure, France has established a framework of public-private partnerships in order to supplement the financing from the state. Through its subsidiary, Auxifip, Crédit Agricole is France’s leading source of funding for these types of projects.
High-quality public infrastructure contributes to reducing inequalities between regions by fostering development of disadvantaged areas, thereby improving the quality of life and access to public services for all citizens. Public investment projects also have a positive impact on employment and growth.
The CEB loan is expected to fund facilities such as administrative buildings, educational, medical and sports facilities, transport and network infrastructure, or urban renewal projects. It will also part-finance sub-projects in the area of energy management and environmental protection, in particular regarding renewable energies and wastewater treatment.
Set up in 1956, the CEB (Council of Europe Development Bank) has 41 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody's, outlook stable, AA+ with Standard & Poor's, outlook stable and AA+ with Fitch Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.