€5 million to support investment by Lebanese SMEs/SMIs

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€5 million to support investment by Lebanese SMEs/SMIs

20-06-2012

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 to partially finance investment projects of Small and Medium Enterprises (SME) and Industries (SMI) in Lebanon. The plan of a total value of €55 million 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. The line of credit between EIB and SGBL was signed on June 13, according to a press release.

As the first financial investor in the Mediterranean, the EIB has placed the development of both the private sector and the SMEs at the heart of its operational priorities. More than 442 million Euros have been granted 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. (EU Neighbourhood Info)

Read more

Press release

Info Centre Lebanon page

EIB website

Info Centre feature - The new trade routes of old natural soap

EU delegation - Lebanon

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