EIB And Societe Generale Sign Contract To Support SMEs

European Investment Bank (EIB) and Societe Generale sign 60 million euros finance contracts for support to small and medium companies

Societe Generale Bank and Sogelease which is by hundred percent owned by Societe Generale Bank signed today with the European Investment Bank (EIB) two finance contracts for support to small and medium size companies, Mid-Cap companies and priority projects in the amount of 60 million euros. The total loan arrangement amounts to 110 million euros, and the remaining portion of funds will be released in early 2018.

Maria Rousseva, president of the Executive Board of Societe Generale Banka Srbija and Boris Stević, president of the Executive Board of Sogelease signed the contracts for the financing of small and medium companies as well as Mid-Cap companies and priority projects.

The funds provided under these contracts will be used for the financing of working capital loans and investments with a repayment period of up to 12 years for loans granted by Societe Generale Bank and up to 7 years for Sogelease investment loans.

Societe Generale Bank and Sogelease have expressed expectations that the domestic economy, in particular the sector of small and medium companies, will thereby receive additional stimulus.

“We are aware that small and medium business is also a great challenge because, in addition to a good business plan and a good idea, being successful on the market also requires improving the overall environment. In this chain of support, financial institutions that help companies become more competitive and profitable play a major role”, declared Maria Rousseva, president of the Executive Board of Societe Generale Bank.

Societe Generale is also the signatory of the EIB’s (EYET) European Youth Employment and Training Initiative, under which companies wishing to compete for facilities and, at the same time, recruit young experts, may obtain additional benefits in the form of favourable loan interest rate.