Release date: 23 December 2024
Promoter – Financial Intermediary
BANK LEUMI LE ISRAEL BMLocation
Description
The guarantee facility shares the risk with respect to a portfolio of debt financing to micro, small and medium-sized enterprises (MSMEs) in Israel granted by Bank Leumi. The portfolio included under the guarantee will target women in business, young entrepreneurs and start-ups, thus improving financial inclusion for underserved MSMEs and increasing their contribution to the economy.
Objectives
The primary objective is to enhance access to loan finance for MSMEs through improved terms and conditions, especially reduced collateral requirements and/or lower financing costs. Consequently, the operation, contributes to economic resilience and employment generating activities with a focus on business owned or run by women or youth, on start-ups and other underserved MSMEs.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 11 million
Total cost (Approximate amount)
EUR 96 million
Environmental aspects
The EIB will require that implementation of the project will be done in line with the principles of EU environmental legislation and EIB Environmental and Social Standards.
Procurement
The EIB will require that implementation of the project will be done in accordance with the EIB's Guide to Procurement
Status
Signed - 17/06/2024
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).