- Title
- EIB provides EUR 7 million to two banks in Gabon to finance medium and long term projects
- Long Title
- EIB provides EUR 7 million to two banks in Gabon to finance medium and long term projects
- Banner Title
- Id photos without linguistic version
- Collection
- Summary
- Article
- The European Investment Bank (EIB), the European Union’s development finance institution, has just signed with Banque Gabonaise de Développement (BGD) and Financial Bank Gabon (FBG) two finance contracts to provide EUR 7 million in FCFA equivalent for on-lending to private and public sector commercial operators, as well as microfinance institutions in Gabon.
NOTE TO THE EDITOR
The EIB, established in 1958 by the Treaty of Rome, finances capital investment projects that further the European Union (EU) policy objectives. It also participates in the implementation of the EU's co-operation policy towards third countries that have co-operation or association agreements with the Union.Financing in Africa, the Caribbean and the Pacific (ACP) is carried out under the provisions of the Investment Facility, set up by the ACP-EU Partnership Agreement, signed in Cotonou in June 2000.The IF is established by successive protocols defining the aggregate amount of Community aid to the ACP States for each successive five-year financial period.For the first period (2003-2008) the Member Sates pledged EUR 2.0 billion. For the second period (2008-2013) the IF received a further EUR 1.1 and EUR 400 million was made available to provide technical assistance. Under the same protocol, that was signed in June 2006,the Member States supplied support for EUR 2 billion lending from the EIB’s own resources (was EUR 1.7 billion for 2003-2008).The Investment Facility is a revolving facility (loan amortizations will be invested in new operations), aiming at supportingtechnically, environmentally, financially and economically sound projects in the private or the commercially run public sector.
- Central Box
- Sub Article
- Right column
- Related Documents