EIB grants €110m loan for France’s infrastructure upgrade

The European Investment Bank (EIB) approved its first loan to the Department of Calvados, France, providing up to €110 million over 25 years to modernise educational and public infrastructure, as per the bank statement.

The funding will enhance energy efficiency, reduce carbon emissions, and lower operating costs, aligning with the region’s low-carbon strategy under its Calvados Vision 2030 roadmap.

The project includes renovations for secondary schools benefiting 4,500 students, upgrades to public buildings like museums, nurseries, and solidarity houses, and investments in digital equipment and climate-adaptive measures. Key initiatives include replacing fossil fuel boilers with renewable energy systems and transitioning to LED lighting.

Ambroise Fayolle, EIB Vice-President, emphasised the importance of investing in education and energy-efficient infrastructure, while Jean Léonce-Dupont, President of the Calvados Department, highlighted the loan’s flexible terms as vital for achieving long-term investment goals.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama