The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) is supporting the Lebanese private sector by providing a financial package of US$ 100 million to Société Générale de Banque au Liban (SGBL), one of the leading banks in Lebanon, for on-lending to small and medium-sized enterprises (SMEs) and to support export and import activity.
A US$ 50 million credit line will help provide medium-term funding for SMEs in Lebanon and will focus on regional outreach.
The Bank will support Lebanese exporters and importers with a US$ 50 million trade facility to SGBL under the EBRD’s Trade Facilitation Programme (TFP). SGBL is the second issuing bank in Lebanon to join the Programme.
Through the facility the EBRD will issue guarantees in favour of international commercial banks covering the political and commercial payment risk of the transactions undertaken by SGBL, as well as provide short-term loans for on-lending to local exporters, importers and distributors.
Launched in 1999, the TFP aims to promote foreign trade to, from and among economies where the EBRD invests. The TFP currently includes over 100 issuing banks in 28 economies, with limits exceeding €1.5 billion in total, and more than 800 confirming banks worldwide.