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    Reference: 20130077
    Release date: 31 July 2013

    Promoter – Financial Intermediary

    ACCEPTABLE BANK(S)

    Location

    Description

    Global Loan to Banque Socredo for on-lending to SMEs and Mid-Caps in the private sector and commercially run public-sector in French Polynesia, with a specific window for environmental, renewable energy and waste treatment sectors, following a number of successful previous such operations.

    Objectives

    The credit line will provide long-term funding for projects in the aforementioned sectors. This operation is in line with the EIB's private sector and renewable energy financing objectives and the Commission's strategy for the Pacific focusing on the environment and renewable energy. The European Investment Bank's engagement is expected to support the creation of new jobs in French Polynesia by small and medium sized companies, as well as support the territory's established strategy for economic diversification and growth.

    Comments

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 32 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Status

    Signed - 18/11/2013

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    French Polynesia Credit lines