Release date: 6 December 2012
Promoter – Financial Intermediary
Selected banks operating in trade finance in GreeceLocation
Description
The EIB would provide guarantees to a network of geographically distributed international banks (“Counterpart Banks”) covering their risk on selected Greek banks (“Guarantee Beneficiaries”) carrying out trade finance operations for SMEs and mid-caps located in Greece.
Objectives
Following the current market failure experienced by Greek companies and banks in the area of trade finance, the EIB proposes to establish the SMES Trade Finance Facility. The EIB guarantees will help re-activating credit lines in favour of Greek banks by international banks.
Comments
This operation, subject to approval by the EIB’s Governing Bodies, will be the first fully-dedicated trade support operation established by the Bank.
Sector(s)
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
EUR 450 million
Total cost (Approximate amount)
EUR 500 million
Environmental aspects
Final beneficiaries will be requested to comply with the applicable national and EU legislation, to the extent relevant.
Procurement
Final beneficiaries will be requested to comply with the applicable national and EU legislation, to the extent relevant.
Status
Signed - 12/06/2013
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).