OREANDA-NEWS. November 19, 2007. 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.