📋 Tender Overview
Societe Generale and the European Investment Bank EIB today announced the signing of a partnership for the development of the Chadian economy. The first direct financing from the EIB in Chad this support for the private sector is part of the larger support provided by the EIB to promote the development of SMEs and strengthen their resilience in the face of economic difficulties social and health issues in particular the COVID 19 pandemic.This initiative was officially launched during a ceremony organized in NDjamena in the presence of Issa Doubragne Minister of the Economy and Development Planning of Chad of Magloire NGuessan Director General of Socit Gnrale Tchad Nikolaos Milianitis Head of the EIB Representation in Central Africa and Zissimos Vergos Charg dAffaires ai Delegation of the European Union in ChadChad welcomes this great first and the solid support provided by Societe Generale and the European Investment Bank to the development efforts of Chad and the private sector. This new line of credit will promote investment and support employment in the private sector throughout Chad in the face of the global economic recession which is taking hold in the wake of the global crisis declared Minister Issa Doubragne. .The efforts to fight Covid-19 can only bear fruit in the long term as part of a comprehensive approach. Africa and Europe have chosen to join hands in order together to face the repercussions of this pandemic in particular with increased support for the private sector which is one of the sectors most affected by this health crisis. . The agreement concluded today between Socit Gnrale and the European Investment Bank therefore falls within this framework. Team Europe the EU and its Member States hopes that the envelope of nearly 6.5 billion FCFA 10 million euros allocated to the project will help Chadian companies to relaunch their activities said Zissimos. Vergos Charg dAffaires ai Delegation of the European Union in Chad.The envelope of nearly XAF 6.5 billion held by Societe Generale Chad will include support for working capital will increase support for investment projects and provide for more flexible disbursement conditions in order to takes into account the acute and sudden challenges facing African businesses.Since the launch in 2017 of its Grow with Africa strategic plan Societe Generale has been increasing its initiatives to support the sustainable and solid development of SMEs in Africa. Privileged partner of the local entrepreneurial fabric Societe Generale Chad gives substance to this ambition of financing the economy on a daily basis. This commitment made alongside the EIB will serve to increase the financing capacity of Small and Medium-sized Enterprises and promote the countrys economic growth . said Magloire NGuessan Managing Director of Socit Gnrale Tchad.The new device will allow local businesses to face the consequences of COVID-19 and to continue to invest and create jobs. This new targeted aid in support of private sector investments brings together the technical expertise and in-depth knowledge of local business needs of two international partners committed to promoting transformative investments across Africa. Once again the Europe team is enabling a rapid and effective response to the challenges posed by COVID-19 in cooperation with a global partner declared Ambroise Fayolle Vice-President of the Bank. European investment.Chadian companies in the manufacturing industry commerce agriculture tourism and transport sectors will benefit from this new collaboration between Socit Gnrale and the EIB. A comparable facility has already been set up by the two institutions in Benin and Cameroon. Others are in the process of being implemented in other African countries and will be announced in the coming days.
