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Signature(s)

Amount
€ 8,170,602.17
Sector(s)
Services : € 8,170,602.17
Signature date(s)
22/12/2020 : € 8,170,602.17
Link to source

Summary sheet

Release date
9 October 2020
Status
Reference
Signed | 22/12/2020
20190074
Project name
Promoter - financial intermediary
BADIA IMPACT FUND II
ACCEPTABLE CORPORATE(S)
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 10 million (EUR 9 million)
USD 50 million (EUR 43 million)
Location
Sector(s)
Description
Objectives

The proposed operation consists of an equity participation of up to USD 10 million in Badia Impact Fund II, a venture capital fund investing in tech-oriented growth-stage and start-up enterprises. The Fund has a target size of USD 50 million and its target market is the Southern Neighbourhood, with a strong emphasis on Jordan and Egypt.

The Fund aims to generate long-term return for its investors, as well as significant development impact on the markets where it operates, namely by: -supporting innovative and high-growth start-ups and small and medium-sized enterprises (SMEs) in developing regional global solutions; -ensuring access to financing and sophisticated capital to innovation enterprises in Jordan, Egypt and the Levant region; -creating quality jobs and ensuring employment especially for the youth in the region; -expanding the venture capital ecosystem in Jordan and the region; -catalysing interest and attracting institutional investment capital to the Levant region and the Middle East and North Africa (MENA) in general.

Environmental aspects
Procurement

The investment guidelines of the Fund will follow environmental and social (E&S) guidelines that are acceptable to the Bank.

N/A

Comments

The proposed operation would be in line with EU policies regarding the financing of SMEs in the Levant region and MENA in general. The Fund will ensure support for strategic priorities, such as developing innovation and information and communications technology (ICT) solutions, supporting an active entrepreneurial ecosystem and ensuring access to finance and employment creation by promoting sustainable private sector development.

Link to source
Summary sheet
Other links

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).

Documents

Environmental and Social Data Sheet (ESDS) - BADIA IMPACT FUND II
Publication Date
25 Nov 2020
Document language
Main Topic
Lending
Document Number
91719563
Document Focus
Environmental Information
Project Number
20190074
Sector(s)
Publicly available
Download now
Other links

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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.
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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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