47,000 French SMEs and 520,000 jobs supported by the EIB in 2022

In 2022, the European Investment Bank (EIB) invested €10 billion in France, of which €1.5 billion was provided by the European Investment Fund (EIF), a subsidiary dedicated to SMEs. As such, in 2022, France became the second largest beneficiary of the EIB Group financing after Italy and, for the second consecutive year, the leading beneficiary of EIF financing. According to Marjut Falkstedt, Chief Executive of the EIF, this European involvement aims to make SMEs “more competitive, more green and more digital,” giving France a central role in the ecological transition.

In all, €5.9 billion have been invested in the environment (70%) with, for example, the creation of three floating offshore wind farms (€210 million), the connection of the Seine-Nord Europe canal to the rest of the European rivers, introducing a solution that emits five times less CO₂ than road transport and supporting Enedis in the deployment of 7,500 miles of new lines connected to renewable energy sources.

In addition, €2.7 billion have been invested in innovation (31%) to create electric motors at Emotors (€85 million) and plants resistant to climate change at Florimond Desprez (€40 million). In 2022, the EIB thereby supported the economic development of 47,000 SMEs and the maintenance of 520,000 jobs in France.

However, these investments are not limited to green or innovation sectors. According to Ambroise Fayolle, Vice-President of the EIB: “Investment is the keystone of tomorrow’s European sovereignty”. This is how €200 million was invested in OVHcloud (French business, European leader in cloud computing services). This was the EIB’s first investment in the sector: between 10 and 15 new sites of the French group should open in Europe by 2025.

The healthcare sector also benefited from €165 million, distributed among the businesses Cellectis (cell therapies), Gensight Biologics (treatments for eye diseases), Inventiva (diseases linked to the accumulation of fat in the liver) and Medincell (injectable treatments). A total of €400 million have also been injected into the construction of a new hospital in central Nantes, which will open in 2026.

The financing institution of the European Union has been involved in France for a long time. Since 1959, 1,354 projects have been financed and €172.6 billion have been invested. Between 2018 and 2022, the EIB provided electricity to 2.7 million households, broadband access for 22 million households, created 145,000 social housing units and renovated university establishments for 195,000 students, as well as improving public transport for 349 million passengers a year.

For further information about France and its ecological transition, follow this link.

If you would like to know how your business can benefit from EIB support, visit this page.