This partnership will enable independent, development-minded French SMEs with fewer than 250 employees to contract loans with terms of at least two years throughout the Société Générale network on the EIB’s preferential terms.

The EIB and Société Générale thus confirm their long-standing cooperation to provide financial backing for corporate projects. An initial €300m loan advanced in January 2009 has already helped to finance nearly 2,800 projects promoted by 1,950 French SMEs.

This new agreement comes under the €30bn financing support plan to assist European SMEs launched by the EIB in September 2008 for the period 2008-2011. To tackle the financial crisis, the EIB was quick to step up its support for SMEs. In 2009 alone, the EIB lent €12.7bn – i.e. 55% more than in 2008 – to banks in the form of credit lines for the financing of small businesses. The EIB has helped more than 50,000 SMEs across the EU in this way.

With a 3.1% increase in outstanding loans at end-2009 compared to end-2008, Société Générale has demonstrated its financial backing for the French economy. On top of the measures taken in 2009, particularly the reorganisation of its lending decision-making arrangements, the bank continues to show its commitment in support of SMEs. In 2010, satisfaction surveys are being conducted systematically after loans have been provided in order to respond better to customers’ expectations.