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    Reference: 20200347
    Release date: 27 April 2020

    Promoter – Financial Intermediary

    ACCEPTABLE BANK(S),PUBLIC ENTITY(IES)

    Location

    Description

    The project concerns a Programme Loan dedicated to mitigate the impacts of the novel coronavirus (COVID-19) pandemic in the ACP countries. The investment facility aims to provide financing towards a range of measures to support the health emergency response and pandemic prepareness interventions as well as the economic hardships experienced in the countries by small and medium sized enterprises (SMEs) and midcaps.

    Objectives

    The project will support the ACP countries to provide citizens access to critical health and civil protection measures in addition to providing support to SME and midcap enterprises during and in the aftermath of the COVID-19 pandemic. The project will contribute to the countries' pandemic preparedness and response efforts in the fight against COVID-19 and addresses the gaps in their available infrastructure, equipment, medical materials and pharmaceutical needs in the face of the pandemic. The project will also contribute to increasing liquidity for SMEs and Midcaps and thus limiting negative economic impacts of the pandemic. The operation is expected to provide the healthcare sector and local businesses the capability to deal with, and the support to endure, the COVID-19 pandemic and aid in the mid-term recovery process post crisis.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 600 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    The promoters have to ensure that the implementation of the project will be done in accordance with the EIB's Environmental and Social principles and standards.

    Procurement

    The promoters have to implement the project in line with the EIB's Guide to Procurement.

    Status

    Approved - 29/05/2020

    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

    ACP States Health Credit lines