Societe Generale Serbia Risk Participation

Location:

Serbia

Project number:

46237

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

10 Dec 2014

Status:

Repaying

PSD disclosed:

08 Oct 2014

Translated version of this PSD: Serbian

Project Description

The EBRD is considering a participation in a risk sharing project with Société Générale Serbia with a total amount of up to RSD 2.3 billion (approximately €20 million) for the financing of a microfinance portfolio in rural areas of Serbia.

The loans provided to microentrepreneurs will be developed in partnership with AgroInvest Serbia, a specialised rural microfinance organisation and an affiliate of Vision Fund International

Transition Impact

The Project is expected to expand access to finance for microenterprises that are largely excluded or underserved. In particular, the Project will target microenterprises in rural areas or in the least economically developed regions of Serbia. The Project will also contribute to promoting an appropriate regulatory framework for microfinance activities through a Policy Dialogue component.

The Client

Société Générale Serbia, a fully owned subsidiary of Société Générale Group, France, is one of the leading banks in Serbia.

EBRD Finance

An unfunded risk participation of up to RSD 2.3 billion (approximately €20 million).

Project Cost

Up to RSD 2.3 billion (€20 million).

Environmental Impact

Categorised FI. The client is an existing client of the Bank and is satisfactorily implementing the EBRD's E&S requirements. The bank will need to apply their E&S procedures to the new portfolio, continue to comply with PRs 2 & 9 and submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

The Bank intends to support the development of the microfinance sector in Serbia with a policy dialogue component in cooperation with a Serbian-based group of international donors, socially responsible investors and Serbian microfinance institutions.

Company Contact

Stanislas Tertrais
Vice President of the Executive Board and Commercial Director
Société Générale Banka Srbija A.D. Beograd
Bulevar Zorana Đinđića 50 a/b,
11 070 Beograd,
Srbija

Tel. +381 (0)11 30 11 425
E-mail: Stanislas.tertrais@socgen.com

 

Business opportunities

For business opportunities or procurement, contact the client company.

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