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Signature(s)

Amount
€ 22,121,627.8
Countries
Sector(s)
Lebanon : € 22,121,627.8
Industry : € 22,121,627.8
Signature date(s)
27/09/2019 : € 22,121,627.8

Summary sheet

Release date
29 April 2019
Status
Reference
Signed | 27/09/2019
20180804
Project name
Promoter - financial intermediary
GLASS MANUFACTURING LEBANON - INTERMEDIATED LOAN
GLASSPACK SAL
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 24 million (EUR 22 million)
USD 48 million (EUR 44 million)
Location
Sector(s)
Description
Objectives

The project consists of a greenfield investment in a glass container manufacturing plant in the region of Taanayel-Bekaa in Lebanon.

The main expected benefits from the proposed financing and project implementation are to: - Contribute to the development of the industrial private sector in Lebanon by providing expected good quality glass containers, while reducing reliance on imports; - Contribute to the economic development of Taanayel and Bekaa area; - Contribute to socio-economic stability by creating and supporting additional job opportunities; and - Increase the availability of private sector finance through an intermediary structure with a local banking institution.

Environmental aspects
Procurement

The 'manufacturing of glass' falls under the Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU as amended, for which a screening decision is required and an EIA might be requested by the competent authorities.

The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

Under ELM Guarantee
Comments

This operation is covered by the ELM Guarantee.

The project is in line with the EIB's External Lending Mandate 2014 - 2020 and the Economic Resilience Initiative.

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).

Documents

Environmental and Social Data Sheet (ESDS) - GLASS MANUFACTURING LEBANON - INTERMEDIATED LOAN
Publication Date
27 Sep 2019
Document language
Main Topic
Lending
Document Number
93964200
Document Focus
Environmental Information
Project Number
20180804
Sector(s)
Countries
Publicly available
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