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    Reference: 20170121
    Release date: 14 December 2017

    Promoter – Financial Intermediary

    HELLENIC REPUBLIC

    Location

    Description

    The project consists of a dedicated intermediated loan focusing on the co-financing of priority projects of limited size by small and medium-sized enterprises (SMEs) under the Greek Investment Incentives Law.

    Objectives

    The Greek Investment Incentives Law, which this loan will support, aims at promoting economic development through modernising and improving the institutional framework for private investments, thus accelerating private investments in strategic sectors.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 320 million

    Total cost (Approximate amount)

    EUR 2958 million

    Environmental aspects

    The promoter will be required to comply with EU legislation and applicable national legislation as well as with the Bank's Environmental and Social principles and standards, and will be contractually bound to ensure the implementation of such standards in the qualified investment projects.

    Procurement

    For projects for which the EU public procurement Directives apply, the Bank will require the promoter to ensure that contracts for the implementation of these projects have been and shall be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/24/EU as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the European Union, with the publication of tender notices in the Official Journal of the European Union, as and where required. For private companies not subject to EU rules on public procurement or concessions, the Bank will require the promoter to ensure that the criteria of economy and efficiency are met. This implies that contracts for the provision of works, goods and services are negotiated impartially and in the project's best interests.

    Status

    Signed - 14/06/2018

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Greece Services Industry