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Projects

Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.

 

Project name
Société Générale (Sri Lanka)
Project ID
710
Fiscal year
1997
Status
Not Active
Guarantee holder
Société Générale S.A.
Investor country
France
Host country
Sri Lanka
Sector
Banking
Gross exposure
 $5.4 million
Project type
Non-SIP

MIGA issued guarantees of $3.6 million and $1.8 million to cover the equity and loan investments of Société Générale, S.A. of France in a new branch in Colombo. MIGA guarantees cover the risks of war and civil disturbance for the equity investment and transfer restriction for the loan.

The project enterprise, Société Générale (Sri Lanka), will provide commercial, merchant, and investment banking services. It create some 30 jobs for local Sri Lankan nationals and provide intensive training locally and in France.

 
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