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CYPRUS ENTREPRENEURSHIP SCHEME FOR SMES

Signature(s)

Amount
€ 70,000,000
Countries
Sector(s)
Cyprus : € 70,000,000
Credit lines : € 70,000,000
Signature date(s)
13/12/2013 : € 70,000,000
Link to source

Summary sheet

Release date
19 July 2013
Status
Reference
Signed | 13/12/2013
20130323
Project name
Promoter - financial intermediary
CYPRUS ENTREPRENEURSHIP SCHEME FOR SMES
ACCEPTABLE BANK(S)
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 70 million
not applicable
Location
Sector(s)
Description
Objectives

EIB loan to the Republic of Cyprus to support a national funding and guarantee scheme for SMEs

The EIB loan to the Republic of Cyprus will support a state-owned fund to be created for the financing or guaranteeing of small and medium-sized ventures carried out by eligible SMEs in various sectors of the economy, including services, tourism, energy and others. The Entrepreneurship Fund will channel the EIB funds in support of SMEs through selected banks in Cyprus on a risk-sharing basis.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Link to source

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).

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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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