Lebanon: Eib to support financing of SME and industries

Agreement with the Societe Generale de Banque au Liban

22 June, 17:42

(ANSAmed) - BRUSSELS, JUNE 22 - The Societe Generale de Banque au Liban and the European Investment Bank (EIB) have signed an agreement for the establishment of a credit line of 15 million euros to partially finance investment projects of Small and Medium Enterprises (SME) and Industries (SMI) in Lebanon.

According to the Enpi website (www.enpi-info.eu) the plan of a total value of 55 million euros targets Lebanese SMEs operating in the industry, tourism, health, education and high technology sectors.

This partnership will enable Lebanese SMEs of less than 500 employees, wishing to finance new projects or expand existing projects, to contract loans for a minimum of five years and a maximum of ten years, with EIB preferential conditions throughout the SGBL network. As the first financial investor in the Mediterranean, BEI has granted more than 442 million Euros since 2002 to support and develop Lebanese SMEs, more particularly in the key sectors of tourism and industry. In the whole Mediterranean region, there are more than 2,300 SMEs that have received support from BEI since 2002, creating thus 30,000 jobs in this region. (ANSAmed)

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