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    Reference: 20130343
    Release date: 29 July 2013

    Promoter – Financial Intermediary

    Selected banks operating in trade finance in Cyprus

    Location

    Description

    EIB guarantee(s) to confirming banks covering risk on selected Cypriot issuing banks in relation to trade finance facilities provided to SMEs and mid-caps.

    Objectives

    The proposed project seeks to ease SME access to trade finance by guaranteeing the obligations of Cypriot issuing banks in relation to their trade finance facilities provided to SMEs and Mid-Caps.

    Comments

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 150 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 - 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