Climate Action

LIFE financial instrument supports energy efficiency in France

Green euro © Hemera

Companies and organisations in France will be able to benefit from loan programmes for energy efficiency projects enabled by the new 'Private Finance For Energy Efficiency' financial instrument under the LIFE programme, the European Investment Bank (EIB) and Crédit Coopératif have announced.

The Private Finance for Energy Efficiency (PF4EE) aims to increase private financing for investments in energy efficiency enhancing projects by helping intermediary banks to develop and offer specific loan programmes and providing support and technical assistance. Crédit Coopératif has been selected as the intermediary bank for channeling PF4EE loans to beneficiaries in France. The EIB has already signed similar agreements with banks in the Czech Republic and in Spain.

EU Commissioner for Climate Action and Energy, Miguel Arias Cañete said: “Mobilising private finance is central to implementing an ambitious global climate agreement. I am very pleased that PF4EE is starting to deliver real investments to reduce energy use and increase investment in energy efficiency.”