OREANDA-NEWS. October 17, 2011. State corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and Credit Agricole Corporate and Investment Bank (CACIB), France entered into a Framework Multipurpose Loan Agreement. In line with the Agreement the Banks also concluded 3 Individual Loan Agreements on extending to Vnesheconombank a loan totaling Euro 27.78 million with maximum tenor of 7 years covered by the French Export Insurance Agency (COFACE).

For and on behalf of Vnesheconombank, the documents were signed by Pyotr Fradkov, Member of the Board – Deputy Chairman, for and on behalf of Credit Agricole Corporate and Investment Bank – by Tassadit Hanaizi, Executive Director, Export and Trade Finance for European and CIS Countries.

Foreign credit funds will be earmarked to partially finance and refinance the costs under the project related to the Russian Civil Aircraft Industry.

Credit Agricole CIB is the Corporate and Investment Banking arm of the Credit Agricole group, the world’s sixth-largest bank in total assets and Europe’s sixth-largest bank by Tier one ratio (The Banker, July 2011). In more than 50 countries, Credit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking and international private banking.