The public bank notably reinforced its investments in innovation and in the capital of SMEs.
Bpifrance saw its activity grow last year by granting more loans without guarantees, by financing more innovation and with investments in the capital of SMEs which have almost doubled, according to its activity report published on Wednesday.
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A player in the implementation of the post-pandemic recovery plan for the French economy, the public bank disbursed 3.2 billion euros in unsecured loans in 2021, up 93% over one year, in favor of more than 3,300 companies, including one billione “green loans to finance projects improving the environmental and energy impact of companies”, according to a press release. Bpifrance has also granted loan guarantees (excluding PGE which are guaranteed by the State) to more than 45,000 companies, up 14% compared to 2020. The financing of innovation is on the rise by 45% in 2021, “under the impetus of the recovery plan combined with the increase in funds from the future investment program (PIA)”details Bpifrance.
This financing to the tune of 4.4 billion euros for more than 7,600 companies was used either to modernize their technological equipment or to increase their production capacity, according to the press release. The public bank’s investment activity increased by 21% to also reach 4.4 billion euros, with direct investment in the capital of SMEs jumping by 98% to 287 million euros.
ETIs and large groups still in the majority
But these investments remain far behind Bpifrance’s holdings in ETIs and large groups, which amounted to 1.88 billion euros, up 13% over one year. Bpifrance has also injected more public money into French private investment funds, with more than 1.5 billion invested (+26% over one year) in 76 of these funds.
The public bank also continued its development in support businesses “with the creation of 37 new promotions of accelerators and the arrival of 916 new companies (+116%) in training within them”. She finally funded “30 support networks for business creation, themselves present in all territories through their 1,900 locations”distributing 8000 new loans of honor to creators.