FINANCIAL INCLUSION & GREEN TRANSITION FACILITY

Promoter – Financial Intermediary

BANK LEUMI LE ISRAEL BM

Location

• Israel

Description

The operation consists in a line of credit of EUR 250m to Bank Leumi supporting their sustainability strategy to increase outreach to underserved small and medium-sized enterprises (SMEs) as well as mid-caps in Israel.

Objectives

The line of credit will support Bank Leumi's strategy to increase outreach to underserved communities in Israel. The funds will target barriers of financial inclusion based on gender and in specific geographical areas, in line with Bank of Israel's assessments regarding businesses run by (or with the involvement of) underserved ethnic minorities. Also, Bank Leumi has agreed to dedicate a portion of the proposed loan (at least 20%) to Climate Action and Environmental Sustainability ("CA&ES" or "green") objectives.

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 250 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 including procurement procedures carried out by the final beneficiaries for the financed sub-projects comply with national legislation, the ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country.

Procurement

The EIB will require the intermediary institution to take all requisite measures to ensure that any procurement procedure carried out by the final beneficiaries for the financed sub-projects are in line with the EIB's Guide to Procurement.

Status

Signed - 31/12/2023