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    Reference: 20130323
    Release date: 19 July 2013

    Promoter – Financial Intermediary

    ACCEPTABLE BANK(S)

    Location

    Description

    EIB loan to the Republic of Cyprus to support a national funding and guarantee scheme for SMEs

    Objectives

    The EIB loan to the Republic of Cyprus will support a state-owned fund to be created for the financing or guaranteeing of small and medium-sized ventures carried out by eligible SMEs in various sectors of the economy, including services, tourism, energy and others. The Entrepreneurship Fund will channel the EIB funds in support of SMEs through selected banks in Cyprus on a risk-sharing basis.

    Comments

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 70 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Status

    Signed - 13/12/2013

    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).

    Related tags

    Cyprus Credit lines