Societe Generale (SocGen) and Banque publique d’investissement (Bpifrance) have signed a partnership agreement to support the overseas growth of French businesses.
The two institutions, which have a history of working together to finance French businesses at home, said they have decided to strengthen their collaboration internationally.
Through the partnership, the first of its kind in France, SocGen and Bpifrance will jointly provide advice, co-financing and guarantees to French small and medium-sized enterprises (SMEs) and midcaps looking to expand on the foreign markets.
The banks added that by combining their complementary international expertise, the deal is founded upon strong actions to facilitate French exporters’ internationalisation through:
- Assistance/support for SMEs and midcaps wishing to develop their international presence.
- Consulting, co-financing and guarantee services through the Bpifrance product range, as well as the Coface and Ubifrance product ranges distributed under the Bpifrance export label.
“French businesses need access to specific financial resources and customised support to benefit from the growth potential offered by foreign markets,” the banks added. “The Bpifrance and SocGen partnership responds to this need and brings together two teams with a shared commitment to achieving this end.”
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