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Participating loans to drive the recovery Crédit Agricole Assurances to participate to the tune of €2.25 billion
Crédit Agricole Assurances is proud to announce that it will provide €2.25 billion under the French participating loan programme to drive the recovery. These loans, which will be distributed by banks, including those of the Crédit Agricole network, will enable businesses to finance their development once the public health crisis has passed, and thus help to create jobs and support investment. This comes on top of all the other measures taken by the Crédit Agricole Group to help its professional clients in this difficult period.
Since March 2020, Crédit Agricole Assurances has been providing extensive support to its professional clients by:
•granting an extra-contractual “mutualist stimulus” (geste mutualiste) to its professional clients, representing €239 million for the Group;
•contributing €38 million to the solidarity fund set up by the public authorities for very small enterprises and the self-employed in sectors hit particularly hard by the crisis.
As an investor, Crédit Agricole Assurances has also invested €350 million to support the economic recovery and strengthen the health sector in France:
•participation to the tune of €200 million in the €2.2 billion investment programme set up to support businesses affected by the public health crisis, which will focus on the healthcare and tourism sectors, together with SMEs and mid-market companies (initiative launched by the Fédération Française de l’Assurance (FFA) and the Caisse des Dépôts et Consignations (CDC);
•undertaking to invest €150 million in equity in developing SMEs in the healthcare sector.
“At Crédit Agricole Assurances, we have been working tirelessly since the beginning of the public health and economic crisis to support our most vulnerable customers. We are delighted to have yet another opportunity to support the economic recovery through €2.25 billion in participating loans, reasserting our role as a responsible insurer and investor across France,” comments Philippe Dumont, Chief Executive Officer of Crédit Agricole Assurances.