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Reference: 20040012
Release date: 30 July 2004

Promoter – Financial Intermediary

Shorebank Corporation.

Location

Description

An investment company dedicated to microfinance institutions and small business banks.

Objectives

To expand and strengthen the supply of financial services and products to the poor.

Comments

Micro and small business.

Sector(s)

Proposed EIB finance (Approximate amount)

USD 2.5 million (approx EUR 2 million)in common shares at par for up to 10% of the equity of ShoreCap.

Total cost (Approximate amount)

USD 25 million (approx EUR 20.5 million).

Environmental aspects

n.a.

Procurement

n.a.

Status

Under appraisal - 29/06/2004

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).

Related tags

Africa, Caribbean and Pacific Services