Release date: 29 July 2013
Promoter – Financial Intermediary
Selected banks operating in trade finance in CyprusLocation
Description
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.
Objectives
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.
Comments
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 150 million
Environmental aspects
Final beneficiaries will be requested to comply with the applicable national and EU legislation, to the extent relevant.
Procurement
Final beneficiaries will be requested to comply with the applicable national and EU legislation, to the extent relevant.
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).