IIC joins efforts with Banco Société Générale Brasil to support Brazilian SMEs
SME clients will gain access to specialized machinery, equipment and technology to facilitate their growth and internationalization
The Inter-American Investment Corporation (IIC), acting on behalf of the Inter-American Development Bank (IDB) Group, has closed a five-year US$40 million loan with Banco Société Générale Brasil S.A (SGB) to promote access to productive capital goods for small and medium enterprises (SMEs) in Brazil.
With the support of the IIC, SGB’s equipment finance subsidiary Société Générale Equipment Finance S.A., Arrendamento Mercantil (SGEF) will grant more than 360 leases of three years or longer in amounts ranging from US$10,000 to US$1 million to SMEs in Brazil. As a result, SGEF’s SME clients will gain access to specialized machinery, equipment and technology to facilitate their growth, modernization and internationalization.
This is the first transaction approved under the $250-million Internationalization of SMEs Financing Facility, a joint program between the IDB Group and the European Investment Bank (EIB). The program seeks to promote access to finance for SMEs in Latin America and the Caribbean that conduct trade activities with the European Union and support foreign direct investment in the region from European SMEs.
About the Inter-American Investment Corporation (IIC)
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of US$7 billion under management and 330 clients in 20 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.
Societe Generale Brasil S.A.
Societe Generale Brasil is part of the Societe Generale Group, one of the largest European financial services groups. With a Head Office located in São Paulo since 1967, the Group presence in the country is solid with a sustainable and continuous growth through its subsidiaries Societe Generale Corporate & Investment Banking, ALD Automotive and Societe Generale Equipment Finance. Societe Generale Brasil counts with over 400 employees. For more information, visit www.sgbrasil.com.br/.