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AVERROES FINANCE

Signature(s)

Amount
€ 3,500,000
Sector(s)
Services : € 3,500,000
Signature date(s)
24/04/2003 : € 3,500,000
Link to source
Data sheet

Summary sheet

Release date
10 September 2003
Status
Reference
Signed | 24/04/2003
20030131
Project name
Promoter - financial intermediary
Averroès Finance
CDC-PME (Caisse des Dépôts et Consignations Group), PROPARCO (Agence Française de Développement Group), the EIB and Caisse d’Epargne de Provence-Alpes-Corse (CEPAC).
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 3.5 million
EUR 26.5 million
Description
Objectives

Averroès Finance is a "fund of funds" designed to invest capital in investment funds dedicated to taking participations in small and medium-sized companies in the Maghreb countries and the Middle-East

(i) leveraging the Bank's action to strengthen companies' equity in the Mediterranean Partner Countries. (ii) promoting the growth of investment capital activity in the region.

Environmental aspects
Procurement

When selecting its investments, Averroès Finance's management will ensure that the funds in which it invests apply environmental rules in keeping with those of the Bank.

Not applicable.

Link to source
Summary sheet

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).

News & Stories

Other links
Data sheet
Summary sheet

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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