Crédit Agricole CIB coordinates major Export Credit Facilities with the Egyptian Ministry of Defense

Crédit Agricole CIB coordinates major Export Credit Facilities with the Egyptian Ministry of Defense

Crédit Agricole CIB coordinates major Export Credit Facilities with the Egyptian Ministry of Defense

The FINANCIAL -- Crédit Agricole CIB, acting as Global Coordinator and Documentation Bank, signed on April 16th 2015, together with a pool of French and European banks, export credit facilities totaling EUR 3.375 billion for the financing related to four defense equipment sales contracts with the Ministry of Defense of the Arab Republic of Egypt.

The four purchase contracts, signed in February 2015 consist of the supply of 24 Rafale jet fighters sold by Dassault Aviation, one FREMM frigate sold by DCNS and associated equipment sold by MBDA, according to Crédit Agricole.

Each purchase contract is partially financed by a COFACE supported Export Credit Facility funded by the pool of banks. Crédit Agricole CIB is also acting as COFACE Agent for the Dassault Aviation and DCNS Facilities.