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Friday, August 23, 2019

EUROPEAN INVESTMENT BANK: France: Derichebourg receives EIB financing of 130 million euros under the Juncker Plan

European Investment Bank issued the following announcement on July 20.

Derichebourg announces today that it has signed a € 130 million loan agreement with the European Investment Bank, intended to contribute to the long-term financing of a multi-year investment program in France in the field of recycling and recycling. circular economy. The investments of this multi-year program will mainly concern the improvement of the recovery rates of the treated materials, the adaptation of the mills to the best available techniques (in terms of water treatment, fumes collection, noise protection), and the reduction of the consumption of fossil fuels (trucks and handling equipment).

The loan granted by the EIB is part of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe, also known as the "Juncker Plan". It reflects the willingness of the bank of the European Union to further strengthen its funding for the energy transition. It is also the first loan granted in France to a company in the field of the circular economy, which is now a priority for the EIB, as evidenced by the signing on 18 July of a € 10 billion program credit for the circular economy in the European Union, in partnership with five European national development banks (Caisse des Dépôts, KfW, BGK, CDP, ICO).

Pierre Moscovici , European Commissioner for Economic and Financial Affairs, Taxation and Customs, said: " I am delighted with the signing of this agreement as it is a further step towards a more sustainable Europe. Thanks to the Juncker Plan, Derichebourg will be able to develop a financing program aimed at improving its services in the field of recycling and the circular economy. It's a first in France! "

"This first financing operation of a major private sector player in the field of recycling is doubly important for us ," said Ambroise Fayolle , Vice President of the European Investment Bank. It is part of our desire to strengthen the climate action of the EU bank while allowing a European industrial leader, the Derichebourg group, to increase its competitiveness ".

"Our businesses will evolve in the years to come: more societal demand for recycling and circular economy, but also more constraints for operators resulting from new regulations reflecting this demand, which requires investments to adapt , and stay at the forefront of technology. The maturity of the loans proposed by the European Investment Bank responds well to this problem, " said Daniel Derichebourg , CEO of the Derichebourg Group.

EUR 10 billion support to the circular economy in the EU

Original source can be found here.

Source: European Investment Bank

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European Investment Bank

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