Übersicht
The operation consists in a global authorisation providing partial portfolio guarantees to local banks and other financial intermediaries under the European Fund for Sustainable Development (EFSD) Guarantee "SME Access to Finance Initiative".
The aim is to enhance access to finance to SMEs in the EU Eastern and Southern Neighbourhood, as well as Sub-Saharan Africa, by offering loans at favourable conditions, especially reduced collateral requirements and/or lower financing costs.
The selected financial intermediaries have to take all requisite measures to ensure that the procedures carried out by the final beneficiaries will comply with national legislation and the EIB's Environmental and Social Standards.
The selected financial intermediaries have to take all requisite measures to ensure that procurement by the final beneficiaries is undertaken in line with the provisions of the EIB Guide to Procurement.