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Supporting high-impact SMEs in Côte d'Ivoire
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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5300000
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Financing details
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XOF 3,279,785,000 guarantee and EUR 300,000 technical assistance grant
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Customer
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SGBCI
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Type of customer
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Financial institution
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Country of headquarters
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Côte d'Ivoire
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Project number
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CCI1737/CZZ2137
This project is carried out with the support of the European Union and Organization of African, Caribbean and Pacific States (OACPS).
The content of this project information sheet falls under the sole responsibility of the Proparco and does not necessarily reflect the opinions of the European Union and the ACP Group. This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated a EURIZ portfolio guarantee to its longstanding partner, Société Générale Côte d'Ivoire, to support Ivorian high-impact SMEs.
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.
Project description
This project involves a EURIZ portfolio guarantee which aims to support growth in the activities of Ivorian small and medium-sized enterprises (SMEs) in sectors with a high development impact: “green” SMEs and start-ups in their first three years, SMEs owned by women or young people (under 25) and SMEs operating in the agriculture, health, education and digital sectors.
Launched in May 2019 with the support of the European Union (EU) and the Organization of African, Caribbean and Pacific States (OACPS), the EURIZ guarantee aims to facilitate access to credit for MSMEs, in particular in sectors with a high development impact, in order to help them play their essential role in economic growth and job creation.
A EUR 300,000 technical assistance grant has also been allocated to assist the Maison de la PME, Société Générale’s training and support center for SMEs.
Project impact
This EURIZ guarantee automatically covers 70% of each loan granted by the bank to eligible SMEs during the two years of allocation, meeting the criteria for the amount and maturity in the eligible sectors.
This operation demonstrates Proparco’s priority of supporting the private sector in Côte d'Ivoire, in particular in high-impact sectors.