Luxembourg, 2 February 2022 (TDI): European Investment Bank (EIB) has provided 14$ billion to France for financial help and investment in the both public and private sectors.
In 2021, France received 9.2 billion from the EIB and 4.7 billion from the European Investment Fund. This all money will be used for raising Small and Medium Businesses and Enterprises (SMMEs).
It is the first time in France’s history that it has received a lot of funds from EIB as compared to other member states.
Using of funds in France
These funds will basically be used for climate change, innovations, and Small Enterprises. In all funds, 15.2 billion will be invested to support small businesses which have suffered from the health crisis.
EIB Vice President Ambroise Fayolle said, ” investment in the energy transition is over two-thirds of activity in France, and investment in energy, health, climate change, and industries is a concrete example of our focus to raise a country economically and increase their export.
He also added that as, a European bank, we are completely focused on European green deal and providing all necessary investments to all European states.”
With record investment of 5 billion in the green deals and Small Enterprises, focusing on the economic recovery of Europe and for the framework of future growth. The growth that will be sustainable and green and digital” informed EIB chief executive Alain Godard.
France-the main beneficiary of the European Investment Bank for Climate change
After the agreement of all European Union states (27 States) in 2020, they agreed to form a European Climate Bank in 2021. As compared to last year’s 51%, the bank agreed to use two-thirds of its loan for climate change.
In all of it, France will receive more than other states in 2021. The bank will donate more than 6 billion to France in Energy Efficiency, Clean transport, Renewable Energy, and Climate Change.
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