Release date: 23 September 2008
Promoter – Financial Intermediary
Bank of Beirut, Crédit Libanais, IBL Bank
Location
Description
The proposed credit line facility is aimed at the partial financing of small and medium-sized investment projects targeting one of the sectors described below, undertaken by private enterprises.
Objectives
Private enterprises contribute heavily to the economic growth in Lebanon. Supporting them and the development of local financial markets are priority activities under the ENP-MED Mandate. The proposed line of credit will improve the availability of long-term funding to a spectrum of final beneficiaries in a number of eligible sectors.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 52 million.
Total cost (Approximate amount)
Not applicable.
Environmental aspects
All investments financed from the resources made available by the Bank through credit line operations are required to comply with the relevant national legal framework and be acceptable to the Bank, in environmental terms in line, as appropriate, with EU environmental policy and legislation.
Procurement
The Bank’s standard procurement guidelines for Global Loans will be applied.
Status
Signed - 19/12/2008