Release date: 19 July 2013
Promoter – Financial Intermediary
ACCEPTABLE BANK(S)Location
Description
EIB loan to the Republic of Cyprus to support a national funding and guarantee scheme for SMEs
Objectives
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.
Comments
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 70 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 13/12/2013
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).