France: EIB Group and BNP Paribas increase their existing guaranteed portfolio under InvestEU to €325 million to continue financing innovation and sustainability in Europe

March 16, 2026 by European Investment Bank Leave a Comment

The European Commission has approved a €1.1 billion French scheme to support strategic investments that add clean technology (cleantech) manufacturing capacity in line with the objectives of the Clean Industrial Deal. This measure will contribute to the transition towards a net-zero economy. The scheme was approved under the Clean Industrial Deal State Aid Framework (CISAF) adopted by the Commission on 25 June 2025. This is the eighth cleantech manufacturing capacity scheme approved since the CISAF was adopted, unlocking over €10 billion in support for investments in such capacity. The French measure France notified to the Commission, under the CISAF, a €1.1 billion scheme to support strategic investments that add manufacturing capacity of cleantech, contributing to the objectives of the Clean Industrial Deal. The scheme incentivises investments in additional capacity production of net-zero technologies listed in Annex II of CISAF, like solar, offshore or onshore wind technologies, heat pumps or battery technologies. The scheme also covers costs related to the main specific components of these technologies and the related critical raw materials. Under the scheme, the aid will take the form of a tax credit. The measure will be open to the whole territory of France and aid may be granted until 31 December 2028. The Commission found that the French scheme is in line with the conditions set out in the CISAF. The Commission concluded that the French scheme is necessary, appropriate and proportionate to accelerate the transition towards a net-zero economy and facilitate the development of certain economic activities, which are of importance for the implementation of the Clean Industrial Deal. This is in line with Article 107(3)(c) of the Treaty on the Functioning of the EU and the conditions set out in the CISAF. On this basis, the Commission approved the aid measure under EU State aid rules. Background On 25 June 2025, the Commission adopted the CISAF to foster support measures in sectors which are key for the transition to a net-zero economy, in line with the Clean Industrial Deal. The CISAF allows the following types of aid, which can be granted by Member States until 31 December 2030 in order to accelerate the green transition: Measures accelerating the rollout of renewable energy and low-carbon fuels (sections 4.1 and 4.2). Member States can set up schemes for investments in all renewable energy sources as well as energy storage, with simplified tender procedures. Specific rules are also provided to accelerate the roll-out of low-carbon fuels. Measures allowing temporary electricity price relief for energy-intensive users to ensure the transition to low-cost clean electricity (section 4.5). Such measures will help to avoid industrial activities relocating to locations where environmental regulations are absent or less ambitious, before the decarbonisation of the EU's electricity system fully translates into lower electricity prices. Measures facilitating the decarbonisation of industrial processes (section 5). Member States can support investments in the decarbonisation of industrial activities to reduce dependency on imported fossil fuels. This can happen through electrification, energy efficiency and the switch to the use of renewable and electricity-based hydrogen which complies with certain conditions, with expanded possibilities to support the decarbonisation of industrial processes switching to hydrogen-derived fuels. Measures to ensure sufficient clean technology manufacturing capacity (section 6). Member States can grant investment support for investment projects concerning technologies covered by the Net Zero Industry Act (final products such as batteries, solar panels, wind turbines, heat-pumps, electrolysers, and carbon capture usage and storage, including main specific components). This also includes the production and recycling of related critical raw materials. Measures to de-risk private investments required for the roll-out of clean energy, industrial decarbonisation, clean tech manufacturing, certain energy infrastructure projects, and projects supporting the circular economy (section 8). More information on the CISAF can be found online. For more information The non-confidential version of today's decision will be made available under the case number SA.120765 in the State aid register on the Commission's competition website once any confidentiality issues have been resolved. New publications of State aid decisions on the internet and in the Official Journal are listed in the Competition Weekly e-News. Quote(s) Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition This scheme of over €1 billion will ensure additional clean technology manufacturing capacity in France. The tax credits granted under this scheme will help companies making key investments in the coming years. At the same time, any potential competition distortions are kept to the minimum. Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition — (Credit: Unsplash)

This article is published in association with European Investment Bank.

The European Investment Fund is providing additional €250 million uncapped guarantees to the existing €75 million guarantee agreement already signed with BNP Paribas S.A.
The new total of €325 million is expected to mobilise at least €465 million of financing in the real economy.
Up to 25-30 new transactions are foreseen to be originated per year, supporting scale-up companies across the EU, for a total of up to 100 transactions over a period of 3 years.
This guarantee is backed by the InvestEU, the EU initiative aiming to mobilise investments in innovation, sustainability and competitiveness.

BNP Paribas has secured an additional €250 million guarantee from the European Investment Bank Group via the European Investment Fund (EIF) under the InvestEU Programme. This significant envelope enables BNP Paribas to advance its goal in supporting innovative and sustainable businesses across the EU, reinforcing its position as a major player in the region and global leader in sustainable finance.[1]

“In 2025, the EIB Group signed through the EIF close to €5 billion in guarantees across Europe, contributing to increase the financing for small and medium-sized businesses”, said Ambroise Fayolle, vice-president of the European Investment Bank. “Guarantees allow banks to expand financing to the real economy and support more risky projects, which in turn drive innovation. By allocating €250 million more in guarantees to BNP Paribas SA, we increase financing for SMEs actively engaged in the twin transition – green and digital”.

“We are proud to partner with the EIF to support the European economy and drive innovation and sustainability,” said Christopher Kramme – Head of BNP Paribas Growth Solutions. “This guarantee is a recognition of our commitment to make a positive impact on the region’s growth and development.

This collaboration will enable growth and innovation in the European economy. The envelope will be split into three portfolios focused on innovation and on sustainability and its deployment will be overseen by both BNP Paribas Growth Capital & Solutions and the bank’s CPBS (Commercial, Personal Banking & Services) division, with a two-year deployment period remaining:

1. The Innovation and Digitalisation Portfolio will fuel the growth of innovative SMEs and Small Mid-Caps, enhancing their access to finance and accelerating the adoption of digital technologies and transformation.

2. The Sustainability Climate Change Mitigation Portfolio will provide support to investments in climate change mitigation such as renewable energy solutions, energy-efficient commercial buildings, industrial energy efficiency initiatives, low-emission mobility solutions and green Information and communication technologies.

3. The Sustainability SMEs and Small Mid-Caps Portfolio will back investments in SMEs and Mid-Caps driving the green and sustainable transformation of the European economy.

BNP Paribas’ partnership with EIF provides a guarantee that allows the bank to invest in earlier-stage projects. BNP Paribas will continue to apply its rigorous credit policies, techniques, technology and due diligence, ensuring that each investment meets the highest standards.

BNP Paribas has built a unique offer through its proprietary data and technology platform, one of the most advanced analytics platforms in the banking industry. This platform enables live tracking of business models and goals, providing a far more reliable way of tracking investments.

This initiative illustrates the EIB Group’s and BNP Paribas’ innovative approach and commitment to supporting European growth. BNP Paribas will be able to support additional transactions, boosting its activity and volume, while leveraging on its extensive network of 200 bankers in Europe focused on innovative companies and 5,200 start-up and scale-up clients, accelerating the growth of innovative and sustainable businesses across the region.

Background information

About the EIB

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high -impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations

The European Investment Fund (EIF) is the subsidiary of the EIB specialised in providing equity, guarantees and securitisations to improve access to finance for small and medium size businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

In 2023, the EIF launched together with six member states (France, Germany, Italy, Spain, Belgium and the Netherlands) the European Tech Champions Initiative, a fund of funds to scale-up innovative startups. This initiative has already enabled the creation of 14 European venture capital mega-funds and scaled up 40 companies, including 11 unicorns (with more than €1 billion in valuation).

High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.

InvestEU

The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to crowd in private investment for the European Union’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

About BNP Paribas

Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has over 180,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. The Group has a historic footprint in four eurozone markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

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