GLASS MANUFACTURING LEBANON - INTERMEDIATED LOAN

Promoter – Financial Intermediary

GLASSPACK SAL

Location

• Lebanon

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)

• Industry - Manufacturing

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