SocGen CEE IFI

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In the context of the Joint IFI Action Plan for Central and Eastern Europe (CEE), Societe Generale (SocGen), which is the French bank with the largest exposure in the CEE region, has approached IFC to provide an investment package to eight subsidiaries (including two in IDA countries, and three existing IFC clients) for an aggregate investment amount of up to €270 million (US$365 million). The proposed investment package for SocGen subsidiaries will cover the following countries in CEE including Serbia, Georgia, Albania, Belarus, Moldova, Macedonia, and Bulgaria. The proposed investments will be in the form of equity, quasi-equity and senior debt. The funding needs for the subsidiaries are mostly a factor of (i) projected business growth, (ii) capital requirements from both a regulatory and business growth perspective, and (iii) ability for SocGen to increase its exposure in the CEE region.