BPCE approaches EIB to finance defence SMEs

The group COPD recently formalized the signing of its new agreement with the European Investment Bank (EIB). The latter concerns the financing of French defence SMEs and underlines the bank's commitment to this. This position also coincides with the recent announcements made by the French government.

FACTS

• BPCE will benefit from a new intermediated loan of EUR 300 million to increase its financing for the defence sector.

• Banques Populaires and Caisses d'Epargne will be responsible for distributing these financings to SMEs investing in strategic areas:
  • cybersecurity,
  • monitoring,
  • resilience,
  • defence technologies.

• BPCE is thus a bridge between the distribution of funds which will help to strengthen the competitiveness and innovation of French defence SMEs.

ISSUES

• Continue reconciliation : COPD Associated the EIB in early 2024 to accelerate the green transition of SMEs. The two groups then announced in October 2024 the strengthening of their partnership in the form of the Unlocking a new envelope to support innovative projects by French companies.

• A French premiere BPCE states that the signing of its agreement with the EIB on this subject is the first of its kind in France, and the second at the European level after that of the Deutsche Bank for 500 million euros.

• Confirm commitment : In addition to this rapprochement with the EIB, BPCE also announced last March that its group would intensify its commitment to the financing of defence companies, as well as its support to the defence industrial and technological base (BITD).

PERSPECTIVE

• It was in March 2025 that the French government announced to strengthen the financing of the defence industry. A number of strategic initiatives have thus been put in place to guarantee these financings, including a strengthened commitment alongside the European Investment Bank.

• It is in this context that BPCE today chooses to strengthen its own strategic efforts in this direction.

• In France, other actors have also emulated the government like Bpifrance, which has created a €450 million fund to finance the defence industry. Tikehau Capital, Société Générale Assurances, CNP Assurances and the CARAC Group have also partnered for launch a private equity fund for defence and European security. The latter is available in life insurance and retirement savings.

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