Crédit Agricole and the EIB unlock €400M for French defence SMEs and mid-caps
Crédit Agricole and the European Investment Bank (EIB) announced on 2 November 2026 a financing envelope for French defence SMEs and mid-caps, the first tranche of €100 million having just been signed.
According to the press release, the scheme targets an ecosystem of around 4,500 micro-enterprises, SMEs and mid-caps within the defence industrial and technological base (BITD), alongside 9 major prime contractors.
Four targeted investment areas, from R&D to cybersecurity
The operation covers a total envelope of €400 million, obtained by Crédit Agricole from the EIB to finance the strategic investments of SMEs and mid-caps in the defence sector in France. The stated objective is to strengthen the competitiveness and innovation of the BITD.
Four areas are covered: innovation and research and development in defence technologies, industrialisation and modernisation of production capacities, cybersecurity and protection of critical data, and defence equipment and infrastructure.
According to the press release, these companies must prepare for rising order books, “initiated and to come”, and meet the growing investment expectations of major prime contractors. Added to this is increased pressure to industrialise production in the face of rising volumes of strategic “consumables”.
Financing of 50% to 100% of projects, capped at €12.5M
Selected projects may be financed at 50% to 100%. The allocation per project may not exceed €12.5 million, and the total cost of each project must remain below €25 million: the scheme therefore targets investments of limited size, in line with the SME and mid-cap focus.
Distribution is carried out through the network of Regional Banks, which rely on more than 850 account managers specialised in supporting companies. For Gérald Grégoire, Deputy Chief Executive Officer of Crédit Agricole S.A., the Regional Banks, “rooted in the regions, are best placed to support SMEs and mid-caps in the defence sector”.
For the EIB, a first financing dedicated to defence SMEs with the group
On the EIB side, the operation is part of its strategy to support the European security and defence industry. It adds to the cooperation already undertaken by the bank with the economic promotion institutions of France, Germany, Italy, Poland and Spain.
Ambroise Fayolle, Vice-President of the EIB, stated that this is “the first time” the two partners are jointly supporting defence SMEs through a “fully dedicated” financing. According to him, the EIB Group now devotes around 5% of its total annual financing to security and defence projects.
