GWFP SOFITEX 5 (IFC-42144)

Countries
  • Burkina Faso
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 20, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
GWFP BURKINA FASO COTTON
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 73.90 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 65.0
Converted using 2019-01-03 exchange rate.
Project Cost (USD)
$ 32.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 28.5
Converted using 2019-01-03 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 14, 2019

Disclosed by Bank Dec 20, 2018


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Project Description

The Project is a funded risk participation for up to EUR 28.5 million by IFC in a EUR 65 million one-year offshore secured pre-export facility provided by Societe Generale (“SG”) to finance the purchase of seed cotton and provide working capital to a cotton company in Burkina Faso. The most significant, expected project-level outcome is continued access to markets and finance for over 273,000 farmers and increases in productivity for 1,000 farmers. Beyond the project, IFC anticipates the investment will increase integration and resilience in the cotton sector in Burkina Faso, a low-income/IDA country, through capacity building and demonstration and replication effects.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • GWFP BURKINA FASO COTTON -- Implementing Company
  • Societe Generale -- Financial Intermediary

 Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth, aiming to be the trusted partner for its clients, committed to the positive transformations of society and the economy.

Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 147,000 members of staff in 67 countries and supports on a daily basis 31 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:

SG will retain EUR 28.5 million for the project

Contact Information

Societe Generale 
Contact: https://wholesale.banking.societegenerale.com/en/contact/ 
FR-RELATIONS-MEDIAS@SOCGEN.COM 
17 cours Valmy 92800 Puteaux France 
https://wholesale.banking.societegenerale.com/en/ 

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