European Investment Bank (EIB) Vice-President Ambroise Fayolle signed a €20 million euro finance contract yesterday with the CS Communication & Systèmes (CS) Group to support the implementation of its 2017-2021 research and development programme.

Commenting on the deal, the EIB Vice-President said:

“I am delighted to be signing the EIB's first cyber security finance contract in France today.”

“Indeed, given the risks and the emergence of new threats, it is our duty to finance innovative solutions to overcome these security challenges while meeting information auditing and control requirements for citizens. This financing with CS Group is part of the Juncker Plan and our priority action to promote innovation and support innovative companies. It is also covered by the objectives of the French Government's investment plan, and is one of the first projects to put this plan into practice.”

The financing will be key for the CS Communication & Systèmes (CS) Group  - the innovative company is a leader in the design and integration of mission-critical systems.

The loan was granted with particularly attractive terms thanks to the EU guarantee it holds under the Investment Plan for Europe (commonly known as the Juncker Plan) and the EIB's excellent credit rating.

The additional funding source will help to implement CS's Ambition 2021 plan, which aims to accelerate the group's growth on the basis of its strategic priorities.

A designer, integrator and operator of mission-critical systems, CS makes regular innovations in area surveillance, air defence and cyber security to enable its institutional, industrial and vital organisation clients to face up to new challenges such as anti-drone defence, maritime surveillance, and the detection of cyberattacks in industrial contexts and at sea.

This week also saw the start of European Cyber Security Month (ECSM), the EU’s annual awareness campaign that takes place each October across Europe. The aim is to raise awareness of cyber security threats and promote cyber security among citizens and organizations.

Click here to take part in the Future Water Association’s UK Water Sector Cyber Security Survey 2017