Construction of an office building in Bezons near Paris, September 3, 2020. -

Michel Euler / AP / SIPA

The health crisis and confinement have prompted the French to save massively.

From now on, the authorities are keen to reveal what this manna will be used for.

According to Eric Lombard, the managing director of the Caisse des Dépôts (CDC), it will in particular be transformed into investments in transport, housing and regional equipment.

Renovate bridges

"The additional savings on the Livret A since January are equivalent to 27 billion euros" and "will be used for example to repair bridges or to finance cycle paths, clean bus networks", explains Eric Lombard in an interview with

Sunday Newspaper

.

The savings from Livret A collected by the institution must be used to "accelerate the ecological transition and the transition to a more inclusive economy".

In total, the CDC, the financial arm of the State, will invest "26 billion euros in all territories, 80% of which is allocated within two years".

Among the projects of the State stimulus plan that the CDC plans to finance, "the thermal renovation of public buildings and low-cost housing", with the objective of renovating "22 million square meters in metropolitan France and overseas" .

In terms of "new mobility", the CDC plans to invest in "electric vehicle charging infrastructure" in high demand by car manufacturers, with "50,000 charging stations" installed "quickly".

"We will also accelerate the development of new energies (hydrogen, gas, electricity) in public transport and finance 11,000 clean vehicles in local communities" and invest in the development of renewable energies to "supply 4.5 million homes", explains Eric Lombard.

Creation of a "Climate Bank"

The CDC confirms the creation of a “Climate Bank”, while stressing that this is not a new structure: it results from “the coordinated action of the Banque des Territoires and Bpifrance, including the CDC holds 50% with the State ”:“ Together, these organizations will invest and lend 40 billion euros for the ecological transition ”.

On the housing side, the CDC wants to finance "170,000 social housing", "including 40,000" built on own funds.

It has already signed contracts with developers for the construction of 30,000 housing units, of which 5,000 will be reserved for health personnel and police.

In total, the general manager announces the creation of "15,000 new places in nursing homes" in two years.

"A major stake" for elected officials, the CDC also plans to finance "100 real estate companies specializing in town center businesses".

In addition, the CDC intends to invest 1.3 billion euros to support tourism and finance 100,000 qualifying training courses for those under 25.

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