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Sustainable energy funding: BPCE bank chosen to support ELENA KfW implementation in France
In France, the Banques Populaires and Caisses d’Epargne Groupe – one of the country’s largest banks - has been chosen as intermediary body to implement the [ELENA KfW financing instrument->].

Provided within the framework of the IEE II programme, this funding facility seeks to help small and medium-sized municipalities to deploy sustainable energy programmes notably by granting technical assistance funding to local authorities via intermediary banks.

Within this framework, the BPCE group and beneficiary French local authorities have developed a system aimed at efficiently coordinating local funding and energy efficiency initiatives, through the interconnection of a wide range of actors and projects and the combination of various funding instruments.

The implementation of this new scheme relies primarily on a strong cooperation between the BPCE group and local authorities, who are responsible for involving local actors, setting priorities and forecasting future funding needs.

At present five pilot BPCE banks have established relationships with pilot regions to sign local agreements for implementation of the scheme.

    >> Covenant Monthly Newsletter December 2012 <<
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  The sole responsibility for the content of this newsletter lies with the Covenant of Mayors Office. It does not necessary reflect the opinion of the European Union. The European Commission is not responsible for any use that may be made of the information contained therein. The Covenant of Mayors was set up with financial support of the European Commission and consists of five associations of European local authorities: Energy Cities, Climate Alliance, Eurocities, CEMR, Fedarene, and ICLEI Europe.

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