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Signature(s)

Amount
€ 250,000,000
Countries
Sector(s)
Israel : € 250,000,000
Credit lines : € 250,000,000
Signature date(s)
31/12/2023 : € 250,000,000

Summary sheet

Release date
29 January 2025
Status
Reference
Signed | 31/12/2023
20230550
Project name
Promoter - financial intermediary
FINANCIAL INCLUSION & GREEN TRANSITION FACILITY
BANK LEUMI LE ISRAEL BM
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 250 million
not applicable
Location
Sector(s)
Description
Objectives

The operation consists in a line of credit of EUR 250m to Bank Leumi supporting their sustainability strategy to increase outreach to underserved small and medium-sized enterprises (SMEs) as well as mid-caps in Israel.

The line of credit will support Bank Leumi's strategy to increase outreach to underserved communities in Israel. The funds will target barriers of financial inclusion based on gender and in specific geographical areas, in line with Bank of Israel's assessments regarding businesses run by (or with the involvement of) underserved ethnic minorities. Also, Bank Leumi has agreed to dedicate a portion of the proposed loan (at least 20%) to Climate Action and Environmental Sustainability ("CA&ES" or "green") objectives.

Environmental aspects
Procurement

The EIB will require the intermediary institution to take all the requisite measures to ensure that the procedures including procurement procedures carried out by the final beneficiaries for the financed sub-projects comply with national legislation, the ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country.

The EIB will require the intermediary institution to take all requisite measures to ensure that any procurement procedure carried out by the final beneficiaries for the financed sub-projects are in line with the EIB's Guide to Procurement.

Milestone
Under appraisal
Approved
Signed
28 November 2023
31 December 2023

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 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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