Release date: 24 April 2002
Promoter – Financial Intermediary
The Federal Republic of Yugoslavia represented by the National Bank of Yugoslavia, for onlending through selected private domestic banks.Description
Global Loan for the financing of projects of SMEs and, possibly, small infrastructure projects at Municipality level (within the Bank's usual eligibility criteria), covering all of the productive sectors in FRY.
Objectives
The level of financial intermediation in FRY is low, exemplified by the fact that only a reduced number of businesses borrow from banks. By making such funds available to the local financial system for on-lending, the proposed operation would stimulate a number of investments that would not otherwise have taken place, promoting growth and creating employment.
Sector(s)
Proposed EIB finance (Approximate amount)
Approximately EUR 20 million
Total cost (Approximate amount)
EIB funds will contribute up to 50% of the total cost of each project.
Environmental aspects
All investments financed under the proposed loan will be required to comply with the relevant legal framework in FRY and to be acceptable in environmental terms to the Bank and in line with EU environmental policy.
Procurement
EIB's usual procurement rules will apply.
Status
Signed - 16/07/2002
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).