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JEREMIE Cyprus (Call JER-008/2010/1) - Information note to Financial Intermediaries to implement the Funded Risk Sharing Financial Instrument

  •  
    Date: 05 February 2013 - 19 February 2013
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Ref.: Call for Expression of Interest JER-008/2010/1 (launched on 25 February 2010, closed on 12 April 2010)

Additional Funds to be allocated and change in a transaction term.

Download the full note: PDF | Word

Please note that the European Investment Fund (“EIF”) intends to allocate to the above-mentioned Call an additional amount of EUR 7.75 million. It is also to be noted that further capital may be allocated from time to time to this Financial Instrument until 31/12/2015, at EIF’s sole discretion, on the basis of additional funds becoming available at JEREMIE Holding Fund level, and which EIF intends to deploy in accordance with the objectives and features of this Call.

Please also note that the indicative transaction term “Eligible forms of SME financing” of the original Call is now amended as follows:

Eligible forms of SME financing

(A)   investments in tangible and in intangible assets;

(B)   working capital related to development or expansion activities that are ancillary (and linked) to activities referred to in (A) above (which ancillary nature shall be evidenced, inter alia, by the business plan of the SME and the amount of the financing); and/or

(C) working capital related to the establishment, strengthening or expansion of new or existing business activity of an SME (such as purchase of raw materials, stocks and other manufacturing inputs, labour, inventories and overheads, funding to finance trade receivables, non-consumer sales receivables).

In each case, no SME Loan shall finance pure financial activities or real estate development when undertaken as a financial investment activity or the provision of consumer finance.

This product feature was neither a selection nor evaluation criteria with an impact on the Financial Intermediaries selection result. 

Should you decide that you would like to participate in the Financial Instrument due to the above-mentioned changes, please inform EIF by no later than 19/02/2013. A justification is required of why the additional funds being made available and/or the change in “Eligible forms of SME financing” would make you now submit an Expression of Interest for the Call. 

Your Expression of Interest shall be provided in the form of a duly signed letter by an authorised person(s), indicating the reference number of the Call (No. JER-008/2010/1), to be sent to the following addresses (both): 

Postal Address:

European Investment Fund
Attention: Regional Business Development Unit
96 Boulevard Konrad Adenauer
L-2968 Luxembourg
LUXEMBOURG 

and  

E-mail address:

Attention: Regional Business Development Unit
info.rbd@eif.org


 
 

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