Release date: 23 March 2004
Promoter – Financial Intermediary
- Netherlands Development Finance Company (FMO) - Mr Henk Nijland.
- Tuninvest Finance Group - Mr Ziad Oueslati.
Location
Description
Creation of a 10-year investment fund for the purpose of taking short-term equity or quasi-equity participations in Maghreb country enterprises in a co-financing partnership with the regional fund (Maghreb - sub-Saharan Africa AfricInvest Fund).
Objectives
Contributing to the development of some fifteen enterprises or groups of enterprises in the target region; supporting investment capital activity in the Maghreb; obtaining for investors an internal rate of return of 13 to 15% per annum upon liquidation of the fund.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 4 million.
Total cost (Approximate amount)
EUR 25 million – an amount taking account of the overall AfricInvest project, which is split between three investment funds.
Environmental aspects
The fund will invest only in enterprises complying with environmental standards meeting the Bank's criteria and will satisfy itself of compliance with these standards throughout the term of the investment.
Procurement
N/A
Status
Signed - 21/12/2004
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).