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Signature(s)

Amount
€ 12,500,000
Countries
Sector(s)
Egypt : € 12,500,000
Services : € 12,500,000
Signature date(s)
17/12/2008 : € 12,500,000
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Summary sheet

Release date
16 December 2008
Status
Reference
Signed | 17/12/2008
20080493
Project name
Promoter - financial intermediary
Beltone Midcap Fund - Egypt
Beltone Private Equity and SIGEFI Private Equity
Orient Investment Management S.A., a company formed as a joint partnership between the two sponsors.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Contract amount of up to the USD equivalent of EUR 12.5 million.
EUR 80 million / USD 100 million.
Location
Sector(s)
Description
Objectives

Participation on ENP risk capital of up to the USD equivalent of EUR 12.5 million in Beltone Midcap Fund - Egypt, a multi-sector fund investing in mid-sized companies in Egypt.

Beltone Midcap will target mid-sized companies in Egypt defined as profitable companies with a turnover between USD 5 million and 50 million p.a.

Environmental aspects
Procurement

In addition to complying with Egypt’s environmental laws, regulations and policies and, where appropriate, EU legislation (e.g. sensitive sectors, environmental impact assessment), the Fund Manager has agreed to develop environmental guidelines in agreement with its leading investors, namely Beltone Private Equity and the Bank.

N/A (private sector investment).

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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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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