Finance Wales plc (“FW”), a wholly owned subsidiary company of the Welsh Assembly Government.
Location
United Kingdom
Description
The Project concerns a credit line to a Venture Capital and Loan Fund to be set up by FW. FW is seeking to launch a pan-Wales Venture Capital and Loan Fund to provide risk capital in Wales under the Jeremie initiative (“Joint European Resources for Micro to Medium Enterprises”) This Jeremie fund will provide a range of finance to SMEs, including credit lines, equity and mezzanine investment.
Objectives
Provision of finance for SMEs.
Comments
Sector(s)
Credit lines
Proposed EIB finance (Approximate amount)
Up to GBP 75 million.
Total cost (Approximate amount)
Not applicable.
Environmental aspects
Compliance with national regulations transposing EU environment directives will be required.
Procurement
The fund will be subject to a formal tender process for the fund management contracts.
Status
Signed
-
08/04/2009.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. Therefore data provided on this page is indicative and cannot be considered to represent official EIB Policy (see also the Explanatory notes).
The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities. Enquiries and comments regarding the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, EIB can also be contacted through its external offices.
Queries regarding details of a specific project, in particular when EIB loan is under appraisal, should be preferably addressed directly to project promoters.
Any complaint regarding alleged maladministration can be lodged to EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero-tolerance against fraud and corruption
The EIB has a zero-tolerance policy on fraud or corruption. To report allegations of fraud or corruption in EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential, and are handled in line with EIB investigation procedures and the Anti-Fraud Policy.
The EIB is committed to achieving the highest possible level of transparency. The EIB Transparency Policy sets out how EIB discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations.
