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        APEX GL MULTI-SECTOR

        Signature(s)

        Amount
        € 60,000,000
        Countries
        Sector(s)
        Lebanon : € 60,000,000
        Credit lines : € 60,000,000
        Signature date(s)
        27/12/2004 : € 60,000,000

        Summary sheet

        Release date
        22 October 2004
        Status
        Reference
        Signed | 27/12/2004
        20040204
        Project name
        Promoter - financial intermediary
        Apex Global Loan Multi-Sector
        Banque du Liban, acting as manager of the EIB loan. Banque du Liban will channel EIB funds to several Lebanese banks (acting as financial intermediaries between the EIB and the final beneficiaries).
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        EUR 60m.
        Not applicable.
        Location
        Sector(s)
        Description
        Objectives

        The proposed facility consists of a global loan open to several Lebanese banking intermediaries (“Apex GL”) aimed at cofinancing private sector investments in the country. The proposed operation would follow two dedicated Apex GLs (Renovation des Hotels and Modernisation Industrielle), developed by the Bank over the last years.

        Final beneficiaries of the proposed Apex GL will be private sector entities investing in Lebanon. The proposed operation is expected to improve the access of private sector companies to long-term debt financing.

        Environmental aspects
        Procurement

        The Project is not expected to involve specific environmental effects. Standard EIB guidelines on environmental issues will apply.

        EIB procurement guidelines for global loans will apply.

        Comments

        Several sectors, including among others industry and tourism.

        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).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning 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, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

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

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the 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 and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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