EIB, Bpifrance partner to support high potential companies
The move is part of the Investment Plan for Europe, or “Juncker Plan”, aimed at boosting investment in EuropeEuropost
The European Investment Bank (EIB), represented by its Vice-President Ambroise Fayolle and Bpifrance, represented by its Managing Director Nicolas Dufourcq, signed on Tuesday a financing agreement as part of the activities of the European Investment Advisory Platform, or Advisory Hub - a one-stop-shop platform, providing advice and technical assistance in support investment projects in the EU.
In concrete terms, the EIB will contribute to the financing of the fifth promotion of the Bpifrance SME Accelerator Program. This comprehensive and personalised support program is designed to meet the needs of dynamic and ambitious companies in their journey towards the status of mid-cap companies. In particular, it makes it possible to identify the priority areas for growth and to take advantage quickly of the identified levers. For now, Bpifrance has set itself the goal of accelerating this way 4,000 French companies by 2021.
"Bpifrance is an important partner of the EIB and the Advisory Hub in France and we are very pleased to be able to strengthen our cooperation with this signature," said Ambroise Fayolle, Vice President of the EIB. "A strong SME and ETI ecosystem is a key factor in supporting the competitiveness and innovation of economies and in this context it is very important for the EU bank to participate. This is an excellent example of how European funding and expertise can support needs locally, to the benefit of citizens."
"Initiated with financing and guarantee agreements, allowing us to leverage our loans to French SMEs and mid-cap companies, we are very happy to extend it [our partnership] to a new field of action, by now associating the EIB with our strategy of extra- financial institutions," Nicolas Dufourcq, CEO of Bpifrance, said for his part.
The financing agreement is one of the first signed by the EIB in the context of the European Investment Advisory Platform and is part of the strategy of the EIB and the European Commission to strengthen the capacity of national public banks to support companies in the extra-financial field.