The proposed framework project will provide medium-term loan financing to banks in EU Accession countries. The purpose of the project is to encourage participating banks to further expand their finance for SMEs by providing funding together with access to guarantees to enhance their risk-taking capacity. Eligible banks will apply for a guarantee under the European Commission's Multi Annual Programme (MAP) managed by the European Investment Fund. The banks must lend to SMEs which would not qualify for loans under current risk guidelines.
Bank finance to the private sector, and to SMEs in particular, in Central European economies is still very low. While banks in the region have committed themselves to the SME market, many SMEs do not have sufficient collateral and cash-flows to meet the banks' risk guidelines. The facility is intended to allow a larger number of SMEs to access bank finance and to improve the services provided to SMEs by allowing banks to offer more favourable terms and conditions, particularly reduced collateral. The project will enable banks to build their experience in SME finance and grow the business, increasing its earning potential.
Commercial banks in EU Accession countries; initially the project targets participating banks in the EU/EBRD SME Finance Facility.
Credit lines of €10- 20 million to eligible banks.
Participating banks will apply EBRD's Environmental Procedures for Small and Micro Loans to all sub-loans to be financed through the Facility. In implementing these Procedures, participating banks will assess potential environmental issues associated with sub-projects, which are required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements. Each participating bank will submit annual environmental reports to EBRD.
No Technical Cooperation is provided for this project; however, participating banks in the EU/EBRD SME Finance Facility have benefited from TC provided by the European Commission.
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