OREANDA-NEWS. In the course of the Moscow International Forum "Open Innovations" State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' and BPI-Groupe SA entered into an agreement to enhance the development of small and medium-sized enterprises.

On behalf of Vnesheconombank the agreement was signed by Vnesheconombank Deputy Chairman - Member of the Board Mikhail Kopeikin and on behalf of BPI-Groupe SA - by Executive Director - by Arnaud Caudoux.

The agreement aims to develop and implement joint programs to provide financial support for SMEs.

Under the agreement signed, the parties intend to do a research on studying trade and economic cooperation potential between Russian and French small and medium-sized enterprises. On the basis of this research the parties will decide if it makes sense to establish Russian-French funds to be responsible for providing investment and guarantee support for Russian and French companies as well as for enhancing their activities in both countries.

The parties will also explore the possibility of creating EuroQuity platform in Russia. The platform is an internet-service to search for partners and investors upon implementing projects. This service is functioning successfully in Europe in particular in France and Germany.

As part of the agreement signed, the parties are to share their business experience in providing financial support for SMEs as well as participate in organizing joint forums and conferences. The parties to the agreement also agreed to establish a working group. Director for International Partnerships Gilles Le Cocguen is to be responsible coordinating cooperation on the part of BPI-Groupe SA and Vnesheconombank Deputy Chairman Member of the Board Mikhail Kopeikin is to be responsible for coordinating cooperation on the part of Vnesheconombank.

BPI-Groupe SA is a parent company of Bpifrance - a finance group of the state investment bank of France which is designed to stimulate the national economy and ensure its sustainable growth by way of funding and supporting high-technology small and medium-sized industrial enterprises in France, it gives high priority to exports. The bank was factually established in 2013 on the basis of OSEO and two subsidiaries of Development Bank of France (CDC). BPI-Groupe SA capital is 21 billion euros.