Release date: 10 October 2012
Promoter – Financial IntermediaryEAST AFRICAN DEVELOPMENT BANK
The Bank would provide a credit line of up to EUR 25 M from Investment Facility Resources to East African Development Bank (EADB) for on-lending to small and medium sized investment projects in Uganda, Kenya, Tanzania and Rwanda. The target final beneficiaries are enterprises in agro-industry, fishing, construction, food processing, manufacturing, tourism, healthcare, education or services related to these sectors.
EIB participation would support EADB's expansion of its lending portfolio, which would give EADB a more substantial role to play in promoting development in the four East African member countries and regional integration as foreseen in its Charter.
Proposed EIB finance (Approximate amount)
EUR 25 million
Total cost (Approximate amount)
Compliance with EU and national environmental legislation and guidelines will be made a condition for each sub-project under the global loan.
EADB will ensure that the assets to be financed will be procured on a competitive basis taking into account the particular nature and size of the goods considered. A corresponding undertaking will be set out in the sub-finance contracts.
Signed - 27/12/2012