New BEI funding agreement for urban transport in France
European Investment Bank, French Ministry of State for Transport and Caisse d’Epargne Group signed on September 23rd a protocol on public transport funding.
This protocol, marking the installation of the Sustainable Urban Transport Program, consists in a €500 mio funding, intermediated by Caisse d’Epargne Group and dedicated to exclusive lanes projects about to be completed within 3-4 years.
Current ongoing projects total costs are estimated to €7bn for France (Paris Ile-de-France Region excluded). This type of funding will allow borrowers to finance the work and to match loan payment dates with increasing patronage on the services opened. The maximum term of loan is 40 years.
Updated : December 31, 2004