OREANDA-NEWS. June 29, 2011. In the Course of the Export Finance Conference in the G20 format in Paris (France), an official ceremony to sign a trilateral Agreement on Cooperation between State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, France’s Export Credit Agency Coface and Italy’s Export Credit Agency SACE was held.


On the Russian side the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on the French side - by Coface Director General Mr. Jean Mar Pillu, on the Italian side – by SACE Director General Alessandro Castellano

The Agreement is aimed at setting up an integrated system of funding the sales of Sukhoi Superjet 100 aircraft using a credit leasing scheme to fund export supplies of aircraft to foreign purchasers against insurance coverage of export credit agencies SACE and Coface.

An idea that Vnesheconombank is to arrange financing of the sales of Sukhoi Superjet aircraft by joint venture Superjet International S.p.A. was approved by Vnesheconombank’s Supervisory Board in December of 2010.

This Agreement was signed to build on the agreements reached at the multilateral talks with the participation of representatives from the French Finance Ministry, the Russian Finance Ministry, the Russian Economic Development Ministry, export credit agencies SACE , Coface, Finmeccanica S.p.A., OJSC Sukhoi Company, CJSC Sukhoi Civil Aircraft Company as well as Russian-Italian joint venture Superjet International S.p.A.

This Agreement’s implementation would give an additional impetus to improved cooperation between Vnesheconombank, SACE and Coface and allow the parties to significantly diversify risks in funding the sales of Sukhoi Superjet 100 aircraft and would also promote the development of Russian exports.