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    Reference: 20190434
    Release date: 28 November 2019

    Promoter – Financial Intermediary

    ACCEPTABLE BANK(S),SOCIETE GENERALE DE BANQUE AU LIBAN SAL

    Location

    Description

    This third Facility is expected to be part of the EIB's Economic Resilience Initiative (ERI). The aim is to mobilise financing for the banking sector in support of sustainable economic growth and social cohesion in the context of the refugee crisis. The facility proposed will provide funding to small and medium-sized enterprises (SMEs) and midcaps through credit lines to local financial intermediaries.

    Objectives

    This project promotes long term sustainable economic development and economic resilience through improved access to finance for SMEs as key actors for generating economic growth and employment opportunities.

    Sector(s)

    Under ELM Guarantee

    This operation is covered by the ELM Guarantee.

    Proposed EIB finance (Approximate amount)

    EUR 300 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    The EIB 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 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

    Under appraisal - 15/07/2019

    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 Credit lines