Mr Hoyer's tribute comes after talks with French prime minister Edouard Philippe and economy and finance minister Bruno Le Maire.

The president of the EIB welcomed the Great Investment Plan, which will support the framework of the Investment Plan for Europe (aka the Juncker Plan).

Mr Hoyer said: “The EIB welcomes the ambitious five-year Great Investment Plan presented by the prime minister this morning [25^th September].

“The EIB Group is geared up to supporting investment in France, especially in the framework of the Juncker Plan.

“We are encouraged to continue our action in sectors such as the energy and digital transitions, the modernisation of agriculture and innovation to mention only a few areas in which the EIB has greatly stepped up its activity in France.

“I have informed the prime minister and the economy and finance minister of the EIB's desire to continue supporting an investment policy targeting France's priorities for the future.

“We shall, therefore, carry on with our ambitious activity in France with the aim of reaching €40-45bn worth of financing over five years.”

Since 2012, the EIB Group has doubled the volume of its business in France to achieve a record €9.3bn in 2016 in support of SMEs and innovation, strategic sectors, such as climate action, energy, health, education of young people, housing and training facilities.

France is also among the principal beneficiaries of the Investment Plan for Europe with 99 operations to date totalling €7.5bn of EIB Group financing and representing €35.4bn worth of additional investment on the ground.