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Green growth a core priority for the European Investment Bank

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Monday, 12 July 2010

Green growth a core priority for the European Investment Bank

On 8 July 2010 the EUR 10 million Environnementale II credit line was signed in Nouméa (New Caledonia) by EIB Vice-President Philippe de Fontaine Vive and the heads of four New Caledonian banks – Banque Calédonienne d’Investissement (BCI), Société Générale Calédonienne de Banque (SGCB), BNP Paribas Nouvelle-Calédonie (BNP NC) and Banque de Nouvelle Calédonie (BNC). More specifically, the Environnementale II credit line is a subsidised facility that will enable the four New Caledonian banks to finance on better terms projects in the renewable energy, environmental and waste treatment sectors, such as the construction of wind farms or photovoltaic systems or the deployment of more environmentally friendly means of transport. These loans are aimed especially at environmental businesses of all sizes and private firms in New Caledonia with more than 100 employees or generating an annual turnover of over XPF 1.2 billion (EUR 10 million). Furthermore, the EIB has recently joined the GRAINE association, to which it will make available EUR 30 000 to help finance its assistance fund. The signature of this loan marks an important step in the EIB’s determination to work more closely with development financing institutions, in particular to provide more effective support for the Overseas Countries and Territories.

Source: European Investment Bank