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    Summary sheet

    Release date
    28 May 2020
    Status
    Reference
    Approved | 17/06/2020
    20200043
    Project name
    Promoter - financial intermediary
    COVID-19 SME ACCESS TO FINANCE INITIATIVE
    ACCEPTABLE BANK(S)
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 100 million
    EUR 625 million
    Description
    Objectives

    The operation consists in a global authorisation providing partial portfolio guarantees to local banks and other financial intermediaries under the European Fund for Sustainable Development (EFSD) Guarantee "SME Access to Finance Initiative".

    The aim is to enhance access to finance to SMEs in the EU Eastern and Southern Neighbourhood, as well as Sub-Saharan Africa, by offering loans at favourable conditions, especially reduced collateral requirements and/or lower financing costs.

    Environmental aspects
    Procurement

    The selected financial intermediaries have to take all requisite measures to ensure that the procedures carried out by the final beneficiaries will comply with national legislation and the EIB's Environmental and Social Standards.

    The selected financial intermediaries have to take all requisite measures to ensure that procurement by the final beneficiaries is undertaken in line with the provisions of the EIB Guide to Procurement.

    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.

    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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