Frédéric Oudéa Chief Executive Officer of Societe Generale
Commitment has always been one of the strengths of Societe Generale group, in our daily jobs as much as in our civic actions. We reaffirm this strength, along with all the Group's members of staff, as this exceptional situation requires an exceptional mobilisation.
A Responsible bank
Fnac Darty benefits from the support of the French Government
Fnac Darty Group is the first major French company to benefit from the State Guaranteed Loan facility for an amount of 500 million euros. It is strengthening its liquidity to cope with the crisis and prepare for the recovery of its activities.
Societe Generale remains mobilised to support its clients and the economy in this unprecedented crisis context. The provision of a EUR 500 million credit line for the Fnac Darty Group under a State-backed loan (PGE – Prêt Garanti par l’Etat) is an emblematic example of this.
BBVA launched the first social bond to help mitigate the Covid-19 pandemic
BBVA launched on 27 May, the first social bond to help mitigate the severe social and economic impacts caused as a result of the Covid-19 pandemic. The Spanish entity successfully issued a 1bn euro 5-year Senior Preferred bond whose proceeds will be used to finance social projects in different areas like healthcare, education, affordable housing or financing for small and medium enterprises.
Societe Generale supports the IFRC in Africa
As part of the Coronavirus solidarity fund for Africa that Societe Generale launched in May, the Group made a donation of €1 million to the International Federation of Red Cross and Red Crescent Societies (IFRC) to support actions in Benin, Congo, Equatorial Guinea, Ghana, Guinea, Mauritania, Mozambique and Togo.
Through this donation, the IFRC will be able to lead actions in terms of prevention, fighting against the spread and fighting against the socio-economic impact due to the Covid19 pandemic.
Societe Generale supports the fight against Covid-19 in India
As part of our World Solidarity Programme, Societe Generale, with the involvement of all our teams in India, has committed to donate over €650,000 (50 million Indian rupees) in support of those affected by the Covid-19 pandemic in the major cities of Delhi, Mumbai, Bangalore and Chennai.
A donation of €1 million to the “All United Against Coronavirus” initiative
In addition to the work carried out by our staff in their professional capacities, Societe Generale is donating €1 million to the “All United Against Coronavirus” alliance, set up by the Fondation de France, the French public hospital authorities ("AP-HP") and the Pasteur Institute.
All United Against Coronavirus has launched a call to private individuals and corporates alike to support healthcare workers and researchers on the front line facing the emergency, and helping the most vulnerable. Societe Generale group has asked also its staff to join in with this movement for collective action.
Societe Generale supports CARE in Africa
The Group made a donation of €370,000 to CARE to support actions to prevent the spread of COVID-19 in Madagascar and Chad. A long-standing partner of Societe Generale Group, CARE is a major player in emergency response. In this framework, the charity works in conjunction with civil society organisations and local authorities.
A donation of €1.5 million to Médecins Sans Frontières
Committed to help fighting the spread of Covid-19 globally, Societe Generale launches a dedicated programme for Africa. Its first step is a donation of €1.5 million to the association Médecins sans Frontières (MSF). For nearly 50 years, MSF has been providing medical assistance to people whose lives or health are threatened, all around the world. In the context of the Covid-19 pandemic, MSF is working in coordination with local health authorities to assess needs and propose appropriate solutions, building on its medical expertise acquired during previous large-scale epidemics. In addition to this donation, the Bank also encourages people to participate individually to this collective action with a donation to MSF.
An increased commitment from the Societe Generale Foundation
The Societe Generale Corporate Foundation has also renewed its support for its partner associations, in particular those active in the social and health emergency for vulnerable people. New donations will be made to support their actions on the ground.
Facing this crisis that heightens inequalities, Societe Generale once again confirms its commitment alongside its partner associations playing a crucial role in the areas of food aid, health security, accommodation and providing educational and recreational material to disadvantaged people.