Release date: 13 September 2007
Promoter – Financial Intermediary
The promoter is the Ministry of Finance of the Syrian Arab Republic. The financial intermediaries will be a number of public and private sector banks.Location
Description
The proposed credit line facility is aimed at the partial financing of long-term investments undertaken by private sector small and medium sized enterprises (SMEs) in all eligible sectors of the Syrian economy. The proposed operation builds on the existing SME Fund I operation, signed in 2003.
Objectives
The project’s objective would be to assist the development of Syria’s private sector and encourage progress with market liberalisation and financial sector reform. The credit line would support investments in a wide number of sectors (including industry, services, infrastructure, tourism, energy, environmental protection, health and education) while contributing to the development of term finance, an important element for the development of the financial system.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 80 million.
Total cost (Approximate amount)
Not applicable.
Environmental aspects
All investments financed from the resources made available by the Bank through credit line operations are required to comply with the relevant national legal framework and be acceptable, in environmental terms, to the Bank in line, as appropriate, with the EU Environmental policy and legislation.
Procurement
The Bank’s standard procurement guidelines for credit lines will be applied.
Status
Signed - 6/12/2007
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).