Our partnership with the European Investment Bank (EIB)
At the beginning of July, the European Investment Bank (EIB) granted a €200 million credit line to Crédit Mutuel Arkéa. This package will enable the group to step up the assistance it provides to its SME and ETI (medium-sized companies) customers, which have been hit by the economic consequences of the Covid-19 crisis, with low-cost financing with flexible repayment terms. This financing takes on particular significance at a time when public authorities are multiplying economic recovery initiatives.
In this context, the Arkéa group intends to play a structural economic role, by strengthening the support provided to companies located in its territories. This is also the EIB's top priority, as it mobilizes resources and means to facilitate access to credit for businesses and thus support them in their recovery and development projects.
The Arkéa group is a long-standing partner of the EIB. In 2018, a €300m package has been signed for 2 years. It also includes an environmental dimension to encourage and accelerate the initiatives of companies committed to ecological and energy transition. Indeed, contractually, at least 15% of the €300 million must be allocated to so-called "green" projects. The EIB is very proactive in this area and has decided to exclude all fossil fuels, including natural gas, from its financing by 2021.