SGEF HU SMEs and Other Priorities

EIB loan to finance small and medium-sized projects according to the Bank’s eligibility criteria, to be carried out primarily by SMEs, mainly in Hungary.

Objectives

The proposed transaction will support the lines of action identified through the SME consultation process endorsed by the Board of Directors in June 2008. This transaction will take into account the new characteristics of the EIB loan for SME financing (as approved by the Board of 23 September), which should foster the utilisation of the facility, while ensuring that the Bank’s value added fully reaches the final beneficiaries. Finally, the transaction shall also contribute to meet the Bank’s extended commitment for SME lending for 2008-09 made at the Informal Ecofin meeting of 12/13 September 2008 at Nice.

Comments

Sector(s)

Credit lines

Proposed EIB finance (Approximate amount)

Up to EUR 50 million.

Total cost (Approximate amount)

Not applicable.

Environmental aspects

Hungary has harmonised environmental legislation with EU regulations. Within the framework of the EIB loan, the Borrowers will be requested to ensure compliance of the sub-projects with EU directives, as appropriate.

Procurement

The Hungarian legislation regarding public procurement is fully in line with the EU directives. The borrowers will ensure that final beneficiaries undertake to comply with the national and EU requirements in force with regard to procurement for works, supplies and services.

Status

Signed - 15/09/2009.

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).

Projects

Financing of small and medium-scale projects carried out by SMEs

E-mail

General enquiries and comments

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.

Media enquiries

Media related enquiries can be addressed to the EIB Press Office. Please also visit our Press Corner.

Complaints mechanism

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.

EIB Transparency 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.

Guide to procurement

This Guide applies specifically to those components of a project identified for the Bank's financing.