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    Signature(s)

    Amount
    € 4,408,782.29
    Countries
    Sector(s)
    Micronesia : € 4,408,782.29
    Credit lines : € 4,408,782.29
    Signature date(s)
    17/12/2018 : € 4,408,782.29

    Summary sheet

    Release date
    6 July 2018
    Status
    Reference
    Signed | 17/12/2018
    20180323
    Project name
    Promoter - financial intermediary
    FSMDB SME FOCUSED FACILITY
    FEDERATED STATES OF MICRONESIA DEVELOPMENT BANK
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    USD 5 million (EUR 4 million)
    Not applicable.
    Location
    Sector(s)
    Description
    Objectives

    The project consists of a credit facility to the Federated States of Micronesia Development Bank (FSMDB) to on-lend primarily to small and medium-sized enterprises (SMEs) with the aim to contribute to private sector development in Micronesia.

    This credit facility will improve competitiveness and access to finance at favourable conditions for SMEs in Micronesia.

    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.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative 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.

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    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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