Joint press release: Bpifrance, Caisse des Dépôts et KfW conclude memoranda of understanding for extended cooperation

Frankfurt am Main (ots) - Wednesday evening, Bpifrance, Caisse des
Dépôts and KfW, in the presence of French Minister of Economy Bruno
Le Maire and German Minister of Economy Peter Altmaier, have signed
an agreement, open for further European partners, to cooperate more
closely. KfW and the French Caisse des Dépôts and Bpifrance have
affirmed their intention to cooperate more closely in future and
concluded bilateral Memoranda of Understanding for this purpose. In
the agreements, the partners communicate the framework for their
cooperation. These include the areas of collaboration, implementation
of joint projects, common efforts in the context of EU initiatives or
the exchange of information and staff. The agreement is non-exclusive
and is open for further European partners.

Caisse des Dépôts and its subsidiaries form a public long-term
investor group serving the general interest and economic development
of local areas Bpifrance supports start-ups, small and medium-sized
companies as well as Mid-Caps with equity and debt. As a promotional
bank, KfW Group supports change and encourages forward-looking ideas
in Germany, Europe and throughout the world. KfW is also working on a
corresponding agreement with French development bank AFD (Agence
Francaise de Développement), which is active in financial cooperation
with developing countries and emerging economies.

KfW's Chief Executive Officer, Dr Günther Bräunig, states on the
occasion of the framework agreement's signing: "The joint projects
are what really brings Europe forward. We would also like to extend
an invitation to other European partners to do the same. Our
cooperation is a good example of how Europe can be successful when
partners contribute their respective strengths and focus on common
goals for mutual success."

Bpifrance's CEO, Nicolas Dufourcq declares: "This cooperation, in
line with the Meseberg Declaration, will help in particular the
emergence of European players in Deep Tech by mobilizing up to one
billion euro of public and private Investors to German and French
start-ups scaling-up in the two countries".

Eric Lombard, CEO Caisse des Dépôts underlined: "Signing this MOU
is an important step forward for our institution, it will be a key
asset to articulate our own transformation process with the Banque
des Territoires and bilateral and European levels."

KfW, CDC and Bpifrance have already been working together at a
European level for years. For example, KfW and CDC have invested in
the European Marguerite infrastructure fund. KfW and Bpifrance are
working on projects such as the development of venture capital
markets in France and Germany and the two banks jointly invest in
cross-border funds dedicated to technologies (e.g. biotechnologies,
environmental technologies, MedTec, LifeScience, etc. or to the
digital field. KfW, CDC, Bpifrance, AFD and the Italian promotional
bank CDP maintain a joint EU Liaison Office in Brussels.

Pressekontakt:
KfW, Palmengartenstr. 5 - 9, 60325 Frankfurt
Kommunikation (KOM), Wolfram Schweickhardt
Tel. +49 (0)69 7431 44, Fax: +49 (0)69 7431 3266,
E-Mail: wolfram.schweickhardt@kfw.de, Internet: www.kfw.de

Bpifrance
Annelot Huijgen
Tel. +33 (0)141 7994 48
E-Mail: annelot.huijgen@bpifrance.fr

Caisse des Depots
Press department
Tel. +33 (0)158 5040 00
E-Mail: service.presse@caissedesdepots.fr

Original-Content von: KfW, übermittelt durch news aktuell