La Banque Postale and the European Investment Bank (EIB) signed a new partnership on 10 July in the form of a €600m refinancing package. Comprised of two separate funds, this package is intended to finance the energy and climate transition to the tune of €400m, as well as rail and sustainable mobility to the tune of €200m.
The new partnership between La Banque Postale and the EIB aims to support French companies’ transformation projects by financing mobility and the energy transition on privileged terms. The €600m dual package will support the implementation of major sustainable projects in our regions, in line with our commitment to be a citizen bank.
Serge Bayard, La Banque Postale’s Managing Director of Corporate and Investment Banking
With its two separate funds, this package is intended to finance:
- The energy and climate transition with small and medium-sized onshore wind and solar photovoltaic projects, mainly in France, targeted at private companies, small and medium-sized enterprises (SMEs), mid-caps and special purpose vehicles. These investments of less than €50m each from an overall allocation of €400m will make it possible to provide around 649 MW of renewable electricity generation capacity ;
- Rail and sustainable mobility, with the goal of financing infrastructure and public transport with an allocation of €200m. This initiative targets rail modernisation, renewal and development projects and urban mobility in France and other European countries. The aim : developing sustainable transport and modal shift to limit the use of passenger cars and promote clean transport in France.
Read the press release on La Banque Postale website and know more