2024-01-19 07:13:42
Société Générale and IFC (the International Finance Corporation), a member of the World Bank Group, have signed a collaboration agreement to accelerate sustainable finance in developing countries. This agreement is part of the ambition shared by the two institutions to contribute to the United Nations Sustainable Development Goals (SDGs) and their strong commitment to environmental transition and sustainable development.
As part of this agreement, the two institutions aim to facilitate the implementation of diversified financing solutions, such as project co-financing or risk-sharing agreements, contributing to the mobilization of private investments in favor of climate transition. The agreement aims in particular to support sustainable finance projects promoting access to energy, water or other infrastructure, and contributing to sustainable agriculture or female entrepreneurship in small and medium-sized businesses. businesses (SMEs). Société Générale and IFC will also share their thoughts and expertise in impact measurement and monitoring methodologies and tools.
This new collaboration agreement builds on a long-standing partnership and a history of solid cooperation, a shared commitment to the SDGs as well as demanding environmental, social and governance (ESG) standards. Over the past 10 years, the two institutions have co-financed nearly 60 transactions with other partners, representing more than $20 billion in new capital flows to developing countries. IFC also granted around $1.3 billion to Société Générale, to enable, for example, the development of green vehicle fleets.
This partnership will draw on the complementary strengths of the two institutions. Societe Generale will bring its leading expertise in structured financing and ESG, its ability to distribute assets to investors as well as its global presence. IFC will build on its experience as the largest global development institution focused on the private sector in emerging markets, as well as its balance sheet strength and deep knowledge of developing economies.
Slawomir Krupa, Managing Director of Société Généralecomments:
“I am delighted to be able to strengthen our cooperation with IFC through the signing of this collaboration agreement, which builds on the strong relationships that our institutions have built over time. By joining forces, our ambition is to strengthen our contribution to sustainable projects in developing countries, in line with the United Nations Sustainable Development Goals. The establishment of partnerships with the most relevant actors, which is part of our strategic plan and our ESG commitments, allows us to design the best solutions to meet the challenges of environmental transition and the needs for sustainable infrastructure in emerging countries. »
Makhtar Diop, Managing Director of IFCadd:
“This agreement strengthens the long-standing relationship between IFC and Société Générale and will allow us to work together to deploy large-scale private sector investments in emerging markets. We are delighted with this strengthened partnership which will provide crucial financing for projects whose impact on local populations and economies is decisive. »
Contacts presse :
Societe Generale
Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com
IFC
Lamia Oualalou_+33 7 89 07 99 13_ loualalou@ifc.org
1705659849
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