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Reference: 20150045
Release date: 28 April 2015

Promoter – Financial Intermediary

FirstRand Bank Ltd, Industrial Development Corporation of South Africa Ltd, Nedbank Ltd, Standard Bank of South Africa Ltd

Location

Description

Credit facility for South African financial intermediaries to finance small and medium-sized enterprises (SMEs) and Mid-Caps. The facility contributes to private sector development in the Republic of South Africa.

Objectives

Financing of sub-projects carried out by small and medium-sized companies.

Comments

This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 200 million

Total cost (Approximate amount)

Not applicable.

Environmental aspects

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate. Potential environmental and social risks identified at appraisal will be mitigated by adapting the side-letter with allocation conditions pertinent for the promoters and region in line with requirements under relevant EU directives.

Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.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. However, the operation will be limited to private sector entities only. Consequently, there are no public-procurement-related concerns.

Status

Signed - 29/09/2015

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).

Related tags

South Africa Credit lines