Brussels, 10/07/2001 (Agence Europe) - The European Investment Bank (EIB) states that, during the first semester of 2001, it granted loans totalling EUR 258 million to the African, Caribbean and Pacific countries (ACP) signatory of the Lomé Convention, to overseas countries and territories (OCT) and to South Africa. Out of this amount, EUR 159 million were financed by own resources that the bank obtains on international capital markets and EUR 100 million from venture capital from the European Development Fund.
In addition to the operations already announced, the following financing contracts were signed this year: - Caribbean: EUR 5 million were lent to Caribbean Microfinance Ltd, a subsidiary of Development Finance Ltd, for the financing of very small entrepreneurs in the manufacturing field, agro-processing, trading, engineering, transport, auto body and mechanical repair, grocery stores, restaurants, photographic services and tourism services. Regional coverage comprises Trinidad & Tobago, Guyana, Barbados and the Windward and Leeward Islands; - Barbados: EUR 15 million went to Barbados Airport Inc, for the modernisation and expansion of the Grantley Adamas international airport, in order to meet traffic demand and conform to International Civil Aviation Organisation (ICAO) standards; - Cameroon: EUR 15 million went to the Banque internationale pour l'épargne et le crédit (BICEC) and to the Société comemrciale de banque-Crédit Lyonnais (SCB-CL) and to the Standard Chartered Bank Cameroon (SCBC) for the financing of industry, agro-industry, wood-processing, tourism, services and commercial infrastructure; - Dominican Republic: a loan of EUR 10 million was granted to the BHD bank to support SME investment in industry, agro-industry, tourism, private infrastructures and related services; - Mauritania: EUR 1 million went to Société Arabe du fer et de l'Acier (SAFA) for extension of its smelting plant to increase production capacity; - Mozambique: The EIB participated with EUR 3 million in the Private Equity Fund (FICREM), a new venture capital fund created to finance equity and quasi-equity participations in small and medium-size companies (manufacturing, transport, mines, agri-foods, and tourism). In addition to the EIB, the following financial institutions will participate in this fund: Caixa Geral de Depósitos, Investimentos e Participaçoes Epresariais (IPE, Portugal), l'Organisme de financement du développement des Pays-Bas (FMO) and the Southern Africa Enterprise Development Fund Inc. (SAEDF); - Nigeria: a loan of EUR 5 million was granted to Ventures & Trust Ltd (V&T), for the funding of SME investment in industry, agri-foods, mines, tourism and related services; - Zambia: Capital Investment Line II A (to selected commercial banks and leasing companies) will receive on-lending of EUR 20 million to a wide range of SMEs. The loan facility will be made available to: Barclays Bank of Zambia Ltd, Indo-Zambia Bank Ltd, Stanbic Bank Zambia Ltd, Standard Chartered Bank Zambia Plc, Industrial Credit Company Ltd and African Banking Corporation Zambia Ltd.
So far, ACP loans were granted in the context of the Fourth Lomé Convention, together with two financial protocols. The financial allocation available under the second protocol amounts to EUR 14.6 billion, including 12 billion in non-reimbursable aid provided by EU Member States, one billion in venture capital managed by the EIB and a maximum of EUR 1.6 billion granted in the form of loans on EIB own resources. The Bank is currently working in close cooperation with the Member States and the Commission, to define the criteria governing the "investment mechanism" created by the ACP-EU Convention of Cotonou, which succeeds the Lomé Convention.