The EBRD has signed investments worth a total of EUR 215 million with Société Générale subsidiaries across four eastern European countries, as part of a package approved in July 2009 of EUR 400 million. The aim is to provide medium and long-term debt financing through Société Générale subsidiaries in support of SMEs and corporates for investment and working capital needs as well as for efficiency projects.
The EBRD investments are part of the joint pledge by the EBRD, the World Bank Group and the European Investment Bank (EIB) to provide over EUR 24 billion in support of the banking sectors in the region and to fund lending to businesses hit by the global crisis.
The credit lines will contribute to the transition process by maintaining an essential flow of lending to enterprises at a time when the availability of credit, particularly to SMEs, has been constrained.
The Energy Efficiency credit line will generate transition impact by demonstrating the benefits of energy conservation and promoting the expansion of energy efficiency lending.
Four Société Générale subsidiaries in four countries of EBRD’s region.
Societe Generale has been named “Best Bank” in Central and Eastern Europe in the prestigious Euromoney Awards for Excellence, which recognize banks’ leadership, innovation and momentum.
Societe Generale has a strong and long-standing commitment to the region with a presence in 18 countries in Central and Eastern Europe, with 46,000 employees serving more than 11 million clients. The Group’s affiliates have leading positions in a number of countries and markets with a high potential, including the Czech Republic (Komercni Banka, No. 3), Romania (BRD, No. 1 network in the country) and Russia, where Rosbank is the No. 1 privately-owned bank.
EUR 20 million
RUB 875 million
A total of EUR 215 million.
The Société Générale subsidiaries will be required to comply with EBRD’s Environmental Performance Requirement (“PR”) 9 when making local loans, conduct their business in accordance with PR 2, adhere to the EBRD's Environmental and Social Exclusion and Referral Lists, and submit Annual Environmental and Social Reports to the Bank. The subsidiary borrowers will be required to comply with applicable national environmental, health and safety and labour requirements.
None, except for the energy efficiency credit lines where technical assistance is an integral part of the funding.
Senior Corporate Relationship Manager
International Banking Network Division
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