Today on November 16, in the course of Prime Minister Victor Zubkov’s working visit to France the State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and the French Bank BNP Paribas signed a Framework Credit Agreement on Extending a Credit Line worth 300 million euros (or its equivalent in US dollars).
The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and BNP Paribas General Director Georges Chodron –de-Courcel.
Under the Agreement the funds made available within the credit line could be used to finance the purchase of West European goods and services by Russian importers with insurance coverage under the credit to be provided by European export credit agencies.
The signing of the Framework Credit Agreement with BNP Paribas opens up ample opportunities for boosting multilateral Russian-French cooperation by way of carrying out major investment projects on the territory of the Russian Federation and would help increase the trade turnover between the two countries.
BNP Paribas is the leader in banking and financial services in Europe and occupies 15th place in the world by market capitalization. The number of the Group’s employees is 155000 of which 123000 work in Europe. The Group is the leader in three main lines of business: corporate and investment banking services, asset management, retail banking and financial services. The BNP Paribas Group is represented in 85countries in the world and has strengthen its position in all major financial markets. BNP Paribas is active in all lines of business across Europe. France and Italy are the Group’s internal markets for retail banking services. BNP Paribas is making strenuous efforts to expand its business son the territory of the United States and holds influential positions in Asia and emerging markets.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mal: press@veb.ru
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