Release date: 28 May 2020
Promoter – Financial Intermediary
ACCEPTABLE BANK(S)Location
Description
The operation consists in a global authorisation providing partial portfolio guarantees to local banks and other financial intermediaries under the European Fund for Sustainable Development (EFSD) Guarantee "SME Access to Finance Initiative".
Objectives
The aim is to enhance access to finance to SMEs in the EU Eastern and Southern Neighbourhood, as well as Sub-Saharan Africa, by offering loans at favourable conditions, especially reduced collateral requirements and/or lower financing costs.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 625 million
Environmental aspects
The selected financial intermediaries have to take all requisite measures to ensure that the procedures carried out by the final beneficiaries will comply with national legislation and the EIB's Environmental and Social Standards.
Procurement
The selected financial intermediaries have to take all requisite measures to ensure that procurement by the final beneficiaries is undertaken in line with the provisions of the EIB Guide to Procurement.
Status
Approved - 17/06/2020
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).