Project Name

Line of Financing : Byblos Bank SAL

Country

The Lebanese Republic

Sector SME Finance
Project Company

Byblos Bank SAL

Project Cost

USD 7 million

ICD mode of financing Instalment Sale
Amount of ICD financing

USD 7 million

Board Approval Date

September 2, 2003


Project Description
This USD 7 million Line of Financing is based on the Installment Sale mode and is aimed at providing medium and long term financing to productive Small and Medium Enterprises (SMEs) in Lebanon.

Project Sponsors

The line will be administered by Byblos Bank SAL. Established in 1950, the Bank ranks amongst the largest commercial banks in Lebanon with assets of USD 5.3 billion at the end of 2002.

Project Location

Beirut, The Lebanese Republic.

ICD's Role and Developmental Impact

- The project is the first ICD operation in Lebanon. This also represents one of the two Lines of Financing approved by the Board of Directors of the Corporation for the first time in September 2003. The project is in line with ICD's strategy to support the development of a strong private sector in its member countries, and specifically the Small & Medium Enterprises (SME) sector so often referred to as the "engine of growth" for economic development.

- Byblos Bank has long, successful, experience of implementing conventional lines of financing extended by other multilateral agencies. The ICD line seeks to leverage on the Bank's experience and market knowledge for the benefit of the Lebanese SMEs.

- A distinguishing feature of the ICD line is that it is amongst the first Sharia'a-compatible lines of financing based on a full agency agreement with the beneficiary bank. It is envisaged that the line will help promote the development of Islamic financing products. Its strategic fit with ICD's strategy is therefore considered two-pronged.

. .

SODEGRAIN Flour Mill Project.

Al Hadha Grain Handing & Silos.

Line of Financing : Byblos Bank SAL.

JamJoom Pharma Expansion Project.

Plastic Packaging Expansion Project (Daboul & Sayed)

Glass Containers (GCC).

SabaFon Expansion Project.

Dairy Palnt Project (ICFI).


Injazat Technology Fund.

The International Islamic Rating Agency (IIRA)

Middle East Healthcare Company (MEAHCO)

Thuraya Satellite Telecom Company

Jamjoom Pharma

Advisory Services Feasibility Study for the Investment Fund for the Development of Awqaf

Adritec Private Placement

Sudatel Telephone Exchanges Project

Jordan Pharmaceutical Company

Al-Ahlia Mineral Water Company

Syrian Saudi chemicals Company.

. .


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