Multinational - Société Générale - Trade Finance - Risk Participation Agreement

The proposed facility is for the implementation of an unfunded risk participation agreement (APR) of 50 million Euros for a period of 3 years with “Société Générale (SG)”. SG, a major banking group in France, Europe and worldwide, operates in 61 countries with more than 133,000 employees and offers a wide range of banking and financial products. The group is pursuing a dynamic of transformation by adopting a strategy of sustainable growth, driven by values of innovation, responsibility and commitment. Under this partnership, the Bank and SG will share the risk of default on a portfolio of eligible trade finance instruments issued by African issuing banks and confirmed by SG. The proposed RPA will enable SG to provide risk coverage to support nearly 40 local and regional African issuing banks covering nearly 16 RMCs, including 5 transition states, thereby promoting trade and economic activity in Africa.