The Caisse des Dépôts strengthens its links with its Mediterranean

Press release
The Caisse des Dépôts strengthens its links with its Mediterranean and African partners
Paris, April 20, 2015 – Pierre-René Lemas, the Chief Operating Officer of the Caisse des Dépôts,
reaffirmed, in a speech made to the third World Forum of the Caisses de Dépôt, held in Tunis on April 17,
the appropriateness of the CDC model in the financing of national economies. On this occasion, he also
expressed his support and solidarity for the Tunisian people, recently affected by an extremely violent
attack.
Within the context of supporting and relaunching public and private investment, the third World Forum of
the Caisses de Dépôt highlighted the crucial role that the Caisses de Dépôt can play in helping to finance
growth and development, both in Europe, North Africa and sub-Saharan Africa. “The dynamism of this
Forum that has seen the creation of three new Caisses de Dépôt since 2011 1 and numerous other
countries 2 embarking on the administrative and legislative process (or discussions) to set up institutions
of this type, reflects the renewed attraction of this economic model”, said Pierre-René Lemas, the CEO of
the Caisse des Dépôts.
So, this type of financial institution, of which the doyen, France’s Caisse des Dépôts, is on the eve of its
bicentenary, has managed to demonstrate its robustness both in France and abroad. This why today many
countries have, or are about to provide themselves with, structures like this that will allow them to carry
out the role of an intelligent, contra-cyclical, long-term investor, acting in the general interest. “The themes
that unite us – the financing of companies, infrastructures, housing and urban development - over and
beyond the special features of each of our institutions, emphasise our similarities”, explained Pierre-René
Lemas, CEO of the Caisse des Dépôts.
During this Forum, the questions of financing very small, small and medium-sized enterprises,
infrastructure projects, and house building, notably social housing, were at the heart of the debates. A
series of suggestions and concrete solutions were put forward, notably for the promotion of financing tools
that complement the private sector and support public policies. So, in order to make financing very small
and small enterprises easier, the use of guarantee arrangements, co-financing with the banking sector,
subscribing to seed capital and venture capital funds, backing platforms and networks that support
companies, and even access to public-sector orders, were all discussed.
Regarding infrastructures, while the question of their financing was considered crucial, other aspects were
raised, notably taking into account securing them as well as the necessary stability of the legislative and
regulatory frameworks, which is a vital precondition for this type of investment that cannot be dispensed
with in private and foreign investments. Furthermore, having the right in-house skills, with qualified and
expert practitioners, that allows one to be involved in such projects and be the partner of choice of the
public authorities is also an important precondition, just like, for example, the team of in-house PPP 3
experts that the Tunisian Caisse des Dépôts wants to set up.
1
Tunisia, Mauritania and Gabon.
Notably Benin, Burkina Faso, Cameroon, Congo, Ivory Coast and Togo.
3
Public-private partnership. A team that would work in support of the Tunisian public authorities.
2
Housing and urban development, both major challenges for the African continent, were also discussed.
That was the time to recall that these are two challenges that are intrinsically linked to the general interest,
eminently societal and inseparable from harmonious, long-term, economic growth. The French Caisse des
Dépôts, on this occasion, also reminded the Forum that social housing programmes must be closely
integrated with an overall plan for urban development that provides for connecting services like transport
or access to pools of employment, as well as advances in terms of ecological and energy transition. To carry
out the urban development of an area one should use the services, it suggested, of urban project planners
and operators such as SEMs (semi-public companies).
This third meeting of the World Forum concluded with a joint declaration of intent: to continue with the
sectoral working group on the financing of companies, infrastructures, housing and urban development;
the search for common synergies between the Caisses de Dépôt when implementing projects that fall into
these categories; and the continued promotion of the “Caisse de Dépôt” model.
The fourth forum will take place in Rome in 2017 under the aegis of the Cassa Depositi e Prestiti, and will be
chaired by Professor Franco Bassanini.
Press contact - Groupe Caisse des Dépôts: Neyla Bouaïta: +33 (0)1 58 50 40 00 – [email protected]
The birth of the World Forum of the Caisses de Dépôt
The World Forum of the Caisses de Dépôt was set up in February 2011 on the initiative of the Caisse de Dépôt et de
Gestion (CDG). Membership of the World Forum, which nowadays has 11 members, is open as a right to any public
financial institution that has mandate to collect, manage and use savings for the purpose of economic and social
development. Bringing together the chairmen and CEOs of the Caisses de Dépôt, the forum aspires to be a platform
for the exchange of experiences and the exploration of common area of discussion that arise from the major
economic challenges of our day.
Governance of the World Forum of the Caisses de Dépôt
At the meeting of the Coordination Committee of June 1, 2011, the Forum gave itself a structured form of governance.
The general secretariat is led jointly by the Cassa Depositi e Prestiti (Italy), the CDC (Tunisia), the Caisse des Dépôts
(France) and the CDG (Morocco) until spring 2017. Furthermore the Forum’s Coordination Committee meets halfyearly and working parties have been set up to examine the following topics: the economic model of the Caisses de
Dépôt, the identification of common investment problems, and technical support for Caisses that are being set up or
in the development stage.
Members of the World forum of the Caisses de Dépôt
• 8 operating Caisses de Dépôt: Caixa Econômica Federal – Brazil, Caisse des Dépôts - France, Caisse des Dépôts et
Consignations - Gabon, Cassa Depositi e Prestiti - Italy, Caisse de Dépôt et de Gestion – Morocco, Caisse des Dépôts
et de Développement - Mauritania, Caisse des Dépôts et Consignations - Senegal, Caisse de Dépôt et Consignations Tunisia
• 2 Caisses de Dépôt created legally: Caisse des Dépôts et Consignations – Cameroon, Caisse des Dépôts et
Consignations - Congo
• 1 autonomous debt repayment Caisse: Caisse Autonome d’Amortissement - Benin