📋 Tender Overview
Project Number: 49247
Company Name: SOCIETE GENERALE GHANA LTD
Date SPI Disclosed: May 31, 2024
Country: Ghana
Region: World
Projected Board Date: Jun 30, 2024
Environmental Category: FI-2
Status: Pending Approval
Department: Regional Industry - FIG Africa
Industry: Financial Institutions
Sector: Commercial Banking - SME Finance
Additional Project Attributes: Blended Finance
Project Description
The proposed project consists of a 5-year senior unsecured loan of up to US$25 million in USD to Société Générale Ghana ( SocGen Ghana or the Bank ) to support the provision of funding to Micro, Small, and Medium-sized enterprises (MSMEs) that have been negatively impacted by the COVID-19 pandemic in Ghana ( the Project ). Up to 30% of the loan’s proceeds will be earmarked to women and women-owned MSMEs, on a best-efforts basis. The Project is being processed under IFC’s Base of the Pyramid (BOP) Program to support the growth of the banks’ micro, small, and medium enterprises (MSME) portfolio and will benefit from up to US$130 million Pooled First Loss Guarantee (PFLG) on the BOP Program-level provided by International Development Agency IDA Private Sector Window Blended Finance Facility (IDA-PSW BFF).
Total Project Cost and amount and nature of IFC's Investment: IFC’s investment is a 5 year unsecured amortized loan of up to US$25 million with a one year grace period, for IFC’s own account.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington,
DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
