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Signature(s)

Amount
€ 50,000,000
Countries
Sector(s)
Cyprus : € 50,000,000
Credit lines : € 50,000,000
Signature date(s)
13/12/2013 : € 25,000,000
13/12/2013 : € 25,000,000
Link to source

Summary sheet

Release date
29 July 2013
Status
Reference
Signed | 13/12/2013
20130343
Project name
Promoter - financial intermediary
SMES TRADE FINANCE FACILITY (CYPRUS)
Selected banks operating in trade finance in Cyprus
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 50 million
EUR 150 million
Location
Sector(s)
Description
Objectives

EIB guarantee(s) to confirming banks covering risk on selected Cypriot issuing banks in relation to trade finance facilities provided to SMEs and mid-caps.

The proposed project seeks to ease SME access to trade finance by guaranteeing the obligations of Cypriot issuing banks in relation to their trade finance facilities provided to SMEs and Mid-Caps.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with the applicable national and EU legislation, to the extent relevant.

Final beneficiaries will be requested to comply with the applicable national and EU legislation, to the extent relevant.

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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