With nearly 10 billion euros in projects financed by the European Investment Bank (EIB) in 2022, France was the second largest beneficiary of loans from the financial institution last year, according to figures presented on Monday.
Some 8.4 billion euros have been granted to French companies and municipalities through the EIB, and 1.5 billion through its subsidiary dedicated to financing SMEs, the European Investment Fund.
The EIB group granted a total of 72,500 million euros in financing in 2022, of which Italy was the first beneficiary with 10,090 million, ahead of tied France and Spain (9,960 million euros each) and Germany (6,610 million).
As for France, almost 6,000 million euros have been allocated in loans to “renewable energy, clean mobility and energy efficiency”, according to the EIB press release.
Italy, first beneficiary
For example, the institution has supported the construction material rental company Loxam with 130 million euros, to help it electrify its fleet.
Another of the EIB’s priorities in France: innovation, which benefited from an endowment of 2.7 billion euros in 2022.
Compared to 2021 (13.9 billion euros), the financing granted to French companies and local authorities decreased by 4 billion euros.
But 2021 was an exceptional year with the creation of the European Guarantee Fund, according to EIB Vice President Ambroise Fayolle.
This tool intended to “support companies during the Covid has boosted the number in 2021”, he stressed during a press conference this Monday morning in Paris.
“If we look at the long-term trend, the number is increasing,” he said, before adding that in France, “the average size of projects is decreasing and the average risk of projects is increasing.”
Among the largest projects financed in 2022, the EIB contributed €800 million to the Seine-Nord Europe channel, granted €315 million to the automotive supplier Forvia (hydrogen storage) and invested €750 million in common public transport to the Lyon metropolitan area and the Rhône department.
Source: BFM TV
