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Signature(s)

Amount
€ 15,000,000
Sector(s)
Services : € 15,000,000
Signature date(s)
21/06/2010 : € 15,000,000
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Summary sheet

Release date
9 December 2009
Status
Reference
Signed | 21/06/2010
20090398
Project name
Promoter - financial intermediary
Argan Infrastructure Fund

Sponsor: RMA Watanya, the insurance subsidiary of the FinanceCom Group

Promoter: Argan Invest, the private equity unit of the FinanceCom Group

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 20 million.
The fund is targeting to raise a minimum of EUR 75 million on the first closing and a maximum of EUR 200 million.
Description
Objectives

Participation in an infrastructure fund which will primarily invest in energy, ports, transportation, logistics, waste management and telecom infrastructures.

The Argan Infrastructure Fund will contribute to EU objectives by providing a source of equity financing for infrastructure projects across the region.

Environmental aspects
Procurement

The Fund’s guidelines will be consistent with EIB’s own internal guidelines. Due to the indirect nature of EIB’s involvement (i.e. fund participation and subsequent delegation to management), it will be the manager, Argan Invest/Infra Invest, complying with these guidelines.

Similar approach as for environmental guidelines.

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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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