On December 3, 2004, Vneshtorgbank and the Calyon Corporate and Investment Bank, France, signed a Framework Loan Agreement.
Under the Agreement, Calyon shall open to Vneshtorgbank credit facilities worth ? 200 mln to finance 85 percent of contract value of equpment, other goods and services to be delivered to Russia from France and other EU countries under insurance coverage provided by export credit guarantee agencies of these countries. The finance shall be extended for a 10-year term.
The Agreement is seen as a further advance in Vneshtorgbank`s strategy aimed at raising funds in international markets to support Russia`s economic development at favourable for its customers terms.
Calyon Corporate and Investment Bank, France is a new brand and corporate name of the Crédit Agricole group`s financing and investment banking business, established on May 1, 2004, through the partial transfer of assets from Crédit Lyonnais to Crédit Agricole Indosuez which later changed its name into Calyon. High ratings traditionally awarded to the Crédit Agricole group and its stable financial position have only contributed to the Bank`s successful development. Presently, Calyon is a well-recognized bank with a vast branch network, oriented at securitieis trading, finance and investment activities.