Release date: 14 April 2014
Promoter – Financial Intermediary
Acceptable banks.Location
Description
Line of credit to Egyptian banks for the purpose of financing small and medium sized projects in productive and related sectors in Egypt. The overall objective of the loan is to promote economic growth and employment for Egyptian private sector companies.
Objectives
The project's objective is to support the local private sector, in particular SMEs. The proposed credit line facility is aimed at the partial financing of small and medium-sized investment projects targeting productive sectors undertaken by private companies. It will improve the availability of long-term funding and the possibility of extending foreign currency loans for the intermediary banks.
Comments
This operation is covered by the EU Guarantee for EIB loans outside the EU.
Sector(s)
- Credit lines - Credit lines
Under ELM Guarantee
This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.
Proposed EIB finance (Approximate amount)
EUR 140 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Projects co-financed under the proposed facility will be required to comply with the relevant national legal framework and be acceptable to the Bank in line, as appropriate, with the EU Environmental policy and legislation.
Procurement
Normal procurement rules for EIB global loans will apply.
Status
Signed - 14/03/2015
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).