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    Reference: 20180168
    Release date: 3 December 2018

    Promoter – Financial Intermediary

    ACCEPTABLE BANK(S),BYBLOS BANK SAL,CEDRUS INVEST BANK SAL,IBL BANK SAL,LEBANON AND GULF BANK SAL,SARADAR BANK SAL

    Location

    Description

    The operation proposed will provide funding to small and medium-sized enterprises (SMEs) and mid-caps through credit lines to local financial intermediaries, including second tier banks. The operation will support economic resilience of the Lebanese economy in the context of the refugee crisis, with a particular focus on employment creation.

    Objectives

    The project will improve competitiveness and access to finance at favourable conditions for SMEs and mid-caps in Lebanon.

    Sector(s)

    Under ELM Guarantee

    This operation is covered by the ELM Guarantee.

    Proposed EIB finance (Approximate amount)

    EUR 485 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    The Bank will require the intermediary institution to take all the requisite measures to ensure that the procedures carried out by the final beneficiaries for the sub-projects receiving Bank financing will comply with national legislation and the ElB's Environmental and Social Standards.

    Procurement

    The Bank will require the intermediary institution to take all the requisite measures to ensure that any procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances are in accordance with EIB Guide to Procurement.

    Status

    Signed - 12/12/2018

    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

    Lebanon Credit lines