Agence France Locale, which will facilitate the financing by local governments of their investments through diversified sources, was officially established on Oct. 22.
On October 22, Willkie client Agence France Locale, a new French public agency dedicated to the funding of local governments, was officially established. Agence France Locale’s founding members include the local governments of Region Pays de la Loire, Departments of Aisne, Essonne and Savoie, and the cities of Lille Métropole, Grand Lyon, Valenciennes Métropole, Bordeaux, Grenoble and Lons-Le-Saunier. Numerous additional local governments are expected to join in the near future.
The Agency, which will facilitate the financing by local governments of their investments through diversified sources, is expected to become fully functional during the last quarter of 2014. The Agency will enable local governments to consolidate their financing needs under one umbrella, availing them to borrow under conditions more favorable than when acting separately, whether via traditional bank financing or the debt markets.
The matter was handled by partner Thierry Laloum; special European counsel Gabriel Flandin and associates Anne-Laure Barel, Basma Paradin and Liza Scemama.