France’s planned energy law will mobilize about €10 billion (US $13.4 billion) in investment through tax credits and low-interest loans to spur efficiency and renewable power, Environment Minister Segolene Royal said.
The law seeks to boost growth and jobs, and reduce bills through energy savings, she said. Measures include tax breaks and zero-interest loans for renovations to insulate homes.
“What is important is to use our imagination,” Royal told reporters in Paris, asked about plans for funding, growth and jobs. “What we have done is financial engineering.”
Government-owned lender Caisse des Depots et Consignations will set aside €5 billion (US $6.7 billion) for green projects, while non- state banks are also promising to lend, she said.