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    Reference: 20180804
    Release date: 29 April 2019

    Promoter – Financial Intermediary

    GLASSPACK SAL

    Location

    Description

    The project consists of a greenfield investment in a glass container manufacturing plant in the region of Taanayel-Bekaa in Lebanon.

    Objectives

    The main expected benefits from the proposed financing and project implementation are to: - Contribute to the development of the industrial private sector in Lebanon by providing expected good quality glass containers, while reducing reliance on imports; - Contribute to the economic development of Taanayel and Bekaa area; - Contribute to socio-economic stability by creating and supporting additional job opportunities; and - Increase the availability of private sector finance through an intermediary structure with a local banking institution.

    Comments

    The project is in line with the EIB's External Lending Mandate 2014 - 2020 and the Economic Resilience Initiative.

    Sector(s)

    Under ELM Guarantee

    This operation is covered by the ELM Guarantee.

    Proposed EIB finance (Approximate amount)

    USD 24 million (EUR 22 million)

    Total cost (Approximate amount)

    USD 48 million (EUR 44 million)

    Environmental aspects

    The 'manufacturing of glass' falls under the Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU as amended, for which a screening decision is required and an EIA might be requested by the competent authorities.

    Procurement

    The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

    Status

    Signed - 27/09/2019

    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 Industry