Crédit Agricole funds 10,500 senior citizen housing units through EUR 152.5m social impact loan to Énéal

Crédit Agricole funds 10,500 senior citizen housing units through EUR 152.5m social impact loan to Énéal

(IN BRIEF) Crédit Agricole has provided a EUR 152.5 million social impact sustainable loan to Énéal, the social healthcare property company of Action Logement Group. The financing will support Énéal in its socially responsible commitments to develop 10,500 housing units for senior citizens. This 25-year sustainable social loan will enable Énéal to acquire and renovate existing social healthcare facilities to provide comprehensive housing solutions across France for the elderly in need of nursing care. The loan agreement was reached with Crédit Agricole Aquitaine, 15 Crédit Agricole regional banks, and Crédit Agricole CIB as syndication and structuring agent. This financing is part of Crédit Agricole’s Societal Project, demonstrating the group’s commitment to providing easier access to healthcare and dignified ageing in all territories.

(PRESS RELEASE) PARIS, 14-Feb-2023 — /EuropaWire/ —  Credit Agricole Group (EPA: ACA), the world’s largest cooperative financial institution and France’s 2nd largest bank, has announced the signing of a €152.5 million social impact sustainable loan with Énéal, the social healthcare property company of Action Logement Group. This financing will enable Énéal to continue pursuing its socially responsible commitments by developing 10,500 housing units for senior citizens across France.

The 25-year sustainable social loan will allow Énéal to finance the acquisition and refurbishment of existing social healthcare facilities, as part of its efforts to provide comprehensive housing solutions for the elderly who require nursing care. The loan was agreed with Crédit Agricole Aquitaine, 15 Crédit Agricole regional banks, and with Crédit Agricole CIB as syndication and structuring agent.

This financing is part of Crédit Agricole’s Societal Project, which is committed to providing easier access to healthcare and dignified ageing in all its territories. The bank has been supporting Énéal’s efforts to offer a range of comfortable, modernized, and affordable accommodation for the elderly, including EHPAD and independent living residences. These projects, tailored to the needs of the residents and offering access to city life, improve the quality of life of low-income residents and have a high standard of working conditions for their professional care teams.

According to Crédit Agricole, this partnership with Énéal reflects its commitment to supporting sustainable and socially responsible projects that have a positive impact on the communities it serves. By providing sustainable financing solutions, the bank aims to promote a more inclusive and equitable society for all.

For more information on Crédit Agricole’s sustainable finance initiatives, please visit the bank’s website.

For Mario Bastone, Énéal’s General Manager, “This agreement is a major milestone in Énéal’s development. The loan, granted by 16 Crédit Agricole regional banks, will allow us to finance large-scale operations all over the country in close coordination with local authorities and social healthcare providers.”

Sandrine Kergosien, Director for Corporates and Specialized Markets within Crédit Agricole Aquitaine, adds: “I am very happy to support this project, which is important to us and for which we are well aligned in terms of values, such as social usefulness, the environment and decarbonisation. I am delighted that the Crédit Agricole group was able to mobilize and create great synergies in line with the Group’s ambitions in terms of healthcare and ageing.”