News from 26-03-2014

A new office for Bpifrance in Brussels


On 26 March 2014, Bpifrance opened a new office in the Representation it shares with Caisse des Dépôts in Brussels. The inauguration was attended by Michel Barnier, European Commissioner for Internal Market & Financial Services, Mr Philippe Etienne, Ambassador and France’s permanent representative to the European Union, and Florence Mangin, in charge of institutional relations and European and international cooperation at Caisse des Dépôts. 

Bpifrance plans to promote its know-how in the wider European setting and contribute to implementing European public policies.

Bpifrance is a public group serving business finance and growth. It acts as a long-term partner to entrepreneurs and market players (the banking system and investors) to foster financial stability and sustainable growth in Europe. As such, its actions are guided by the Europe 2020 strategy and the Green paper on the long-term financing of the European economy.

Bpifrance incorporates “euro-accountability” requirements into all its actions, and plans to extend its European dimension on three fronts: greater involvement in managing European programmes to smooth their deployment in France and Europe; promoting cooperation between business development banks and their role in fostering sustainable growth; and shaping the design of multilateral financing vehicles to help boost long-term financing of the economy.

This ambition has already led to managing several European structural funding programmes, for example structural funds for financing business on behalf of the regions, the Eurostars programme seeking to support collaborative SME research and innovation projects in Europe, and the Risk Sharing Instrument (RSI) issued by the European Commission and the EIB, which provides Bpifrance with guarantees on its loans to innovative companies. Bpifrance is also an active member of several European bank and investor networks, including EVFIN, AELTI, NEFI, AECM, TAFTIE and EVCA.

Bpifrance’s office is located in the Representation shared with the Caisse des Dépôts – which owns Bpifrance in equal shares with the French government – opened in Brussels in 2008. The Caisse des Dépôts is a long-term investor serving the public interest and regional economic development. It has worked actively to ensure recognition of the specific requirements and of the crucial role of long-term finance in Europe’s economic recovery. Pursuing shared goals, the Caisse des Dépôts and Bpifrance made their collaboration in favour of a common European initiative official with the signing of a memorandum of agreement by their respective CEOs, Jean-Pierre Jouyet and Nicolas Dufourcq, on 25 March 2014 in Maisons-Alfort. This agreement lays the foundations for a coordinated European strategy and for more effective action, based on shared initiatives and best use of resources.

The liaison office is located at 37 Square de Meeus, in the heart of the Brussels European Community district, in a space shared with the German KfW development bank, the Italian Cassa Depositi e Prestiti bank and the French Development Agency. It represents “Bpifrance’s headquarters and window on Europe, alongside the Caisse des Dépôts and other European institutions”, says CEO Nicolas Dufourcq. 

Source: Bpifrance