SGBL explains its new loan program for local SMEs

Following the agreement between SGBL and the European Investment Bank (EIB) for the establishment of a credit line of €15 million to partially finance investment projects of Lebanese enterprises, SGBL organized a conference to present the procedures and the implementation of the new loan.

Tarek Chehab, Deputy General Manager at SGBL, said “this partnership with the EIB is part of a long-term process that aims to give access to Lebanese enterprises, medium and long term financing in order to support their development, and more broadly, to promote economic development”

Barbara Daoud, Head of Economic Research, introduced EIB’s activities in Lebanon underlining that EIB focuses particularly on SME development in the Mediterranean partner countries at the heart of its operational priorities. “Throughout the signature of this refinancing agreement, SGBL and EIB confirm their common goal: supporting the development of the private sector.
Esperance Abi Hayla, Head of Area - Middle Market, said: “The SGBL-EIB loan, available throughout the entire SGBL network, offers favorable conditions to the client on several levels: it targets a wide range of economic sectors, it offers fixed or variable interest, and especially, it has long term maturities, ranging up to 10 years.”