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Meeting the financing needs of SMEs affected by the Covid-19 crisis
Project
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Signature date
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Location
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Côte d'Ivoire
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Financing tool
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Financing amount (Euro)
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2999998
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Financing details
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XOF 1,967,870,000 guarantee
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Customer
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SGCI
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Type of customer
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Financial institution
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Project number
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CCI1809
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has renewed its partnership with Société Générale Côte d'Ivoire to support the country’s SME fabric.
Client presentation
Société Générale Côte d'Ivoire (SGCI) is the main subsidiary of Société Générale (SG) in Sub-Saharan Africa and a key player in international trade finance in Côte d’Ivoire. SGCI’s activity in the SME segment is experiencing strong growth, in line with the strong ambitions of SG Group and the Grow with Africa strategy. SGCI is also the main partner of ARIZ in all AFD Group’s geographical areas of operation.
Project description
Proparco has signed a partnership with SGCI, on behalf of AFD, under the Choose Africa Resilience program. The objective is to allow SGCI to offer up to XAF 1,967,870,000 (EUR 2,999,998.48) of emergency loans to small and medium-sized enterprises affected by the economic consequences caused by the Covid-19 pandemic.
Project impact
Once the financing requests have been examined by SGCI, companies with less than 250 employees affected by the pandemic may be allocated loans with maturities ranging between 12 and 60 months. This countercyclical solution will allow SGCI to maintain financing flows to SMEs, the central link in Côte d'Ivoire’s economy.