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SOUTH AFRICA PRIVATE SECTOR FACILITY

Signature(s)

Amount
€ 200,000,000
Countries
Sector(s)
South Africa : € 200,000,000
Credit lines : € 200,000,000
Signature date(s)
30/09/2015 : € 50,000,000
23/11/2015 : € 50,000,000
29/09/2015 : € 100,000,000
Link to source
Data sheet
SOUTH AFRICA PRIVATE SECTOR FACILITY
Other links
Summary sheet
SOUTH AFRICA PRIVATE SECTOR FACILITY

Summary sheet

Release date
28 April 2015
Status
Reference
Signed | 29/09/2015
20150045
Project name
Promoter - financial intermediary
SOUTH AFRICA PRIVATE SECTOR FACILITY
FirstRand Bank Ltd, Industrial Development Corporation of South Africa Ltd, Nedbank Ltd, Standard Bank of South Africa Ltd
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 200 million
Not applicable.
Location
Sector(s)
Description
Objectives

Credit facility for South African financial intermediaries to finance small and medium-sized enterprises (SMEs) and Mid-Caps. The facility contributes to private sector development in the Republic of South Africa.

Financing of sub-projects carried out by small and medium-sized companies.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate. Potential environmental and social risks identified at appraisal will be mitigated by adapting the side-letter with allocation conditions pertinent for the promoters and region in line with requirements under relevant EU directives.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank’s Guide to Procurement. However, the operation will be limited to private sector entities only. Consequently, there are no public-procurement-related concerns.

Comments

This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.

Link to source
Summary sheet
SOUTH AFRICA PRIVATE SECTOR FACILITY
Other links
Data sheet
SOUTH AFRICA PRIVATE SECTOR FACILITY

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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