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Signature(s)

Amount
€ 32,500,000
Countries
Sector(s)
French Polynesia : € 32,500,000
Credit lines : € 32,500,000
Signature date(s)
18/11/2013 : € 10,000,000
18/11/2013 : € 22,500,000
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Summary sheet

Release date
31 July 2013
Status
Reference
Signed | 18/11/2013
20130077
Project name
Promoter - financial intermediary
SOCREDO GLOBAL LOAN VI
ACCEPTABLE BANK(S)
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 32 million
not applicable
Location
Sector(s)
Description
Objectives

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.

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.

Environmental aspects
Procurement

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

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

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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).

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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.

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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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