FONDS TOURISME OCCITANIE (EIB-20180354)

Countries
  • France
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
COUNTERPART(S) TO BE DETERMINED
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 69.58 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 60 million
Converted using 2018-09-03 exchange rate.
Project Cost (USD)
$ 371.09 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 320 million
Converted using 2018-09-03 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Sep 11, 2018

Disclosed by Bank Aug 20, 2018


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Project Description

The project funds an EUR 60million maximum loan to a fund set up by the French region of Occitanie in order to support public and private initiatives in the tourism sector. The fund will provide public entities (50% of invested resources) as well as small and medium-sized enterprises (SMEs), and mid-caps with types of loans that are not easily available in the market.

Investment Description
  • European Investment Bank (EIB)

The Bank will require the Fund Manager to take all the requisite measures to ensure that contracts for the implementation of the projects financed by the Fund will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/23/EU and/or 2014/24/EU, where applicable, as well as Directive 89/665/EEC) as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required

Contact Information

*There is no further information disclosed at this stage of the project*

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