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Signature(s)

Amount
€ 240,000,000
Countries
Sector(s)
Cyprus : € 240,000,000
Credit lines : € 240,000,000
Signature date(s)
18/02/2016 : € 15,000,000
18/02/2016 : € 15,000,000
18/02/2016 : € 20,000,000
10/01/2018 : € 40,000,000
20/12/2016 : € 50,000,000
29/12/2015 : € 100,000,000

Summary sheet

Release date
31 July 2015
Status
Reference
Signed | 29/12/2015
20150147
Project name
Promoter - financial intermediary
CYPRUS BANKS LOANS FOR SMES AND MIDCAPS III
Commercial banks active in the field of SME lending in Cyprus.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 240 million
EUR 320 million
Location
Sector(s)
Description
Objectives

Loan for banks operating and incorporated in Cyprus for the financing of small and medium-sized ventures carried out by small and medium-sized enterprises (SMEs) and mid-caps.

Improving access to term finance at favourable conditions.

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.

Comments

This operation, subject to approval by the EIB’s governing bodies, would be signed under a guarantee from the Republic of Cyprus and in close cooperation with the Cypriot authorities.

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).

News & Stories

Press release

Cyprus: EIB provides EUR 50 million support for SMEs and Midcaps through financing agreement with Hellenic Bank

13 March 2017

The European Investment Bank (EIB) today signed a EUR 50 million loan in Cyprus with Hellenic Bank to support investments by local small and medium-sized enterprises (SMEs) and MidCaps, bolstering growth and creating new jobs for young people.

A State Guarantee agreement between the EIB and the Republic of Cyprus was also signed.

“I am very pleased to be in Nicosia today to extend the European Investment Bank’s credit line to Hellenic Bank to further support local SMEs and Midcaps, which are the backbone of the Cypriot economy,” said European Investment Bank President Werner Hoyer.

Today’s loan with Hellenic Bank is the third, bringing the total signed with Hellenic Bank to EUR 100 million, and builds on a scheme which the EIB with Ministry of Finance [...]

©Philip Pangalos/PIO

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