Ile de France is a province in the centre of France with 12 million inhabitants and 8 departments, one of which is the city of Paris. It is a leading economic region in France, accounting for 23% of the country’s working population. The council of the region is elected directly and, among others, is responsible for the following services: public transport, secondary education, professional training and development, environment and territorial development, social inclusion, housing, culture, and sports.
The bond was issued to finance sustainable development of the region, the proceeds allocated to a wide range of projects: public transport and sustainable mobility, renewable energy and energy efficiency, school and leisure buildings, biodiversity, social housing, economic and inclusive development and public health measures. The last category was added to raise funding to answer the crisis following the covid-19 pandemic, by purchasing health equipment and setting up emergency infrastructure. Most of the proceeds are allocated to finance new or refurbishing existing electric public transport.