Huguette Bello, president of the Réunion region, and Ambroise Fayolle, vice-president of the European Investment Bank, signed an agreement on November 2 relating to the creation of the Regional Investment Assistance Fund for businesses (FAIRE) Reunionese, whose management will be entrusted to the European Investment Fund, branches from the EIB.
FAIRE plans to mobilize 44,8 million euros for the benefit of Reunion Island businesses, through two financial instruments, following on from those that were put in place in 2017 under the title Financière Région Réunion. The loan instrument, deployed after a selection process of the banking partners of the place operated by the FEI at the beginning of 2024, will allow a VSE or SME to access bank loans in order to invest or offset its cash flow needs, for which it would not have been eligible under current market conditions without the financing mechanism at advantageous terms from FAIRE. The system allows a significant reduction in the rates and guarantees usually required by the banking sector. The co-investment instrument (top of balance sheet) will allow a company that wishes to develop or innovate to call on a specialized investment company to finance its project. Two calls for expressions of interest will be launched by the EIF, on behalf of the Réunion Region, with a view to selecting the financial intermediaries responsible for managing the two instruments.
