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Signature(s)

Amount
€ 18,891,092.85
Sector(s)
Services : € 18,891,092.85
Signature date(s)
5/12/2022 : € 18,891,092.85

Summary sheet

Release date
24 May 2022
Status
Reference
Signed | 05/12/2022
20210089
Project name
Promoter - financial intermediary
EAST LANE PARTNERS NORTH AFRICA & LEVANT FUND I
SPECIAL PURPOSE ENTITY(IES)/FUND
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 20 million (EUR 19 million)
USD 150 million (EUR 143 million)
Location
Sector(s)
Description
Objectives

Equity participation of up to USD 20 million in East Lane Partners North Africa and Levant Fund I, a generalist private equity fund targeting growth capital investments in small and medium-sized private companies operating in North Africa and Levant.

The fund will aim to invest in a diversified portfolio of small and mid-sized companies seeking to grow their activities. The fund manager will proactively support the corporate and operational development of underlying investee companies.

Additionality and Impact

Through this operation, the EIB will be able to support the creation of an independent, local fund manager investing in Egypt, Morocco, Tunisia and Jordan. Furthermore, the EIB will provide much needed equity risk capital to local enterprises that operate across various economic sectors. Access to finance - in particular equity finance - and managerial advice are among the most prevalent barriers for the growth of small- and mid-sized companies. The provision of growth capital and managerial support through private equity funds has proven an effective strategy to overcome this market failure. By providing growth capital and managerial advice to local companies, the operation will contribute considerably to boosting enterprise capabilities and competitiveness through access to finance and improved skills.


Additionally, the EIB is expecting to provide guidance to the fund manager on best market practice for international private equity firms and thus contribute to its institutionalisation. In due course, the EIB will initiate the legal negotiations and work closely with other potential investors.


Thus, the EIB's involvement is expected to be catalytic in a difficult fund raising environment that has been exacerbated by the impact of the Covid-19 pandemic.

Environmental aspects
Procurement

The fund will operate in line with the EIB's environmental and social standards.

N/A

Related projects

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.

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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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