| Project Detail |
The operation consists of a EUR 40 million max. framework loan to a regional investment platform set up by several private and public organisations including the regional branch of the Caisse dEpargne group as cornerstone investor. Managed commercially by private investment firm M Capital, Fonds Tourisme Côte dAzur provides financial support to projects and businesses (mostly small and medium-sized enterprises (SMEs)) in the tourism sector through types of loans that are not easily available in the market, with the aim of modernising, making greener and more resource-efficient a key industry of the Côte dAzur area.
Objectives
The project will improve access to finance at favourable conditions for SMEs and public entities in the tourism sector in Côte dAzur. It aims at strengthening the competitiveness of SMEs as well as upgrading obsolete infrastructure and facilities, thus encouraging innovation and the improvement of services to enhance tourists experiences.
Sector(s)
Services - Accommodation and food service activities
Proposed EIB finance (Approximate amount)
EUR 30 million
Total cost (Approximate amount)
EUR 262 million |
