Leading Bank in Lebanon Receives $100 Million from the European Bank for Reconstruction and Development to Support SMEs
Société Générale de Banque au Liban (SGBL) will receive $100 million from the European Bank for Reconstruction and Development (EBRD) to help export and import activity and on-lending for SMEs.
According to the article, a $50-million credit line will support medium-term funding for SMEs and provide regional outreach. In addition, the funds will support a $50 million trade facility to SGBL under the EBRD’s Trade Facilitation Program (TFP).
TFP includes includes over 100 issuing banks in 28 economies, with limits exceeding €1.5 billion in total, and more than 800 confirming banks worldwide, according to the article. It is aimed to promote foreign trade throughout economies invested in by EBRD.