Release date: 10 September 2003
Promoter – Financial Intermediary
CDC-PME (Caisse des Dépôts et Consignations Group), PROPARCO (Agence Française de Développement Group), the EIB and Caisse d’Epargne de Provence-Alpes-Corse (CEPAC).Location
Description
Averroès Finance is a "fund of funds" designed to invest capital in investment funds dedicated to taking participations in small and medium-sized companies in the Maghreb countries and the Middle-East
Objectives
(i) leveraging the Bank's action to strengthen companies' equity in the Mediterranean Partner Countries. (ii) promoting the growth of investment capital activity in the region.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 3.5 million
Total cost (Approximate amount)
EUR 26.5 million
Environmental aspects
When selecting its investments, Averroès Finance's management will ensure that the funds in which it invests apply environmental rules in keeping with those of the Bank.
Procurement
Not applicable.
Status
Signed - 24/04/2003
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).