FIF - SGBL - SME loan

Location:

Lebanon

Project number:

49885

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

18 Jul 2018

Status:

Passed Final Review, Pending Board Approval

PSD disclosed:

01 May 2018

Translated version of this PSD: Arabic

Project Description

The provision of a loan of USD 50 million to Societe Generale de Banque au Liban ("SGBL").

Project Objectives

The loan will be used to on-lend to micro, small and medium-sized enterprises ("MSMEs") in Lebanon.

Transition Impact

The EBRD loan will increase the availability of finance to micro, small and medium businesses in Lebanon, allowing greater access to finance for this largely underserved segment.

Client Information

SOCIETE GENERALE DE BANQUE AU LIBAN

SGBL is the 5th largest bank in Lebanon with total consolidated assets of USD 21 billion as of December 2017.

EBRD Finance Summary

USD 50,000,000.00

Total Project Cost

USD 50,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014). SGBL will be required to comply with the Bank's Performance Requirements 2, 4 and 9 and implement the EBRD's Environmental and Social Risk Management Procedures for SME and Micro Loans. The bank will also be required to submit Annual Environmental and Social Reports to the EBRD by completing the EBRD's FI Sustainability Index.

Technical Cooperation

None.

Company Contact Information

Mrs Mona Mroue
mona.mroue@socgen.com
http://www.sgbl.com.lb
Saloumeh Roundabout, Dekwaneh, SGBL building Beirut - Lebanon

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