Today, the European Commission and the Caisse des Dépôts (CDC) have signed an InvestEU guarantee agreement worth up to €350 million. The agreement will unlock additional CDC finance of up to €700 million for investments across France.
More specifically, part of the EU guarantee will back CDC equity investments, which in turn will mobilise private investments for the rehabilitation and restoration of industrial wasteland, the development of data centres as well as the investment in industrial infrastructure to the benefit of innovative companies in France. The other part of the guarantee targeted at loans will support a wide type of financing in the poorest urban areas in France as well as the tourism sector to recover from the COVID-19 crisis.
€140 million of EU guarantee under this agreement are expected to contribute to climate and environmental objectives, making CDC an important contributor to the EU’s sustainability goals.
CDC will be able to use the EU guarantee under InvestEU to support projects and other beneficiaries in France and the Overseas Countries and Territories.
With this agreement, after having signed a first administrative agreement under InvestEU for technical assistance in November, CDC reinforces its role as InvestEU implementing partner and deepens a long-standing financial partnership with the EU.
Commissioner for the Economy, Paolo Gentiloni, said:
“InvestEU is supporting investment across the EU that will help us to deliver on our common objectives, especially the green and digital transitions. I am delighted that, with today’s agreement, Caisse des Dépôts et Consignations has become an InvestEU implementing partner. We look forward to drawing on the vast experience and expertise that CDC has developed over the course of its long history to help channel up to €700 million in investments to where they are most needed.”
CDC General Director Eric Lombard said:
“By being an implementing partner of the Commission under InvestEU, Caisse des Dépôts reinforces its capacity to invest for the benefit of the local development, the green transition and the social cohesion. We are happy and honoured to be able today to bring the EU guarantee closer to the territories and to the most urgent needs.”
Background
The InvestEU programme will provide the EU with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It will also help mobilise private investments for the EU’s policy priorities, such as the European Green Deal and the digital transition. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund will be implemented through financial partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budgetary guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.
InvestEU provides an EU budgetary guarantee to implementing partners to increase their risk-taking capacity and therefore contributes to mobilising public and private investment in line with the EU’s policy priorities.
Caisse des Dépôts and its subsidiaries are a public group, a long-term investor serving the general interest and regional economic development. It brings together five areas of expertise: social policies (retirement, vocational training, disability, old age and health), asset management, monitoring of subsidiaries and shareholdings, corporate financing (with Bpifrance) and la Banque des Territoires.
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