Worldwide solidarity programme
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 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 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.
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.
The Group made a donation of 370,000 euros 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.
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.
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.
As part of its 'World Solidarity Programme' Societe Generale, with the mobilization of all its teams in India, has committed to donate over 50 million Indian rupees (650,000 euros) in support of those affected by the Covid-19 pandemic in major cities: Delhi, Mumbai, Bangalore and Chennai.
In India, Societe Generale has partnered with three of its currently supported Non-governmental organisations (NGOs) – Action Against Hunger, Samarthanam Trust for the Disabled and VIDYA Integrated Development for Youth and Adults – to assist their programmes specifically aiming at supporting those in need during the Covid crisis.