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DEVELOPMENT NEWS


Development partnership drives ‘decent work’


T and de suppor


The OPEC Fund increases suppor he OPEC Fund has increased


its trade finance program from US$50 to US$100 million to enable international financial services firm Natixis to enhance support for trade


its trade finance program from US$50 to US$100 million to enable international financial ser


and development in Africa. und guar


second-lar


developing countries tr


he pr


The unfunded risk-sharing agreement sees the OPEC Fund guarantee trade finance transactions supported by Natixis – part of Groupe BPCE, France’s second-largest retail banking group – in developing countries. The program has supported trade transactions such as imports of medical equipment and sugar on the African continent, and in Asia. The original US$50 million


t of Gr etail banking gr am has supported ansactions such as impor


equipment and sugar on the A agr


and in Asia. The original US$50 million agreement was signed with Natixis in 2018.


ABOUT NATIXIS Natixis is the international corporate and


investment banking, asset management, insurance and financial services arm of Groupe BPCE, the second largest banking group in France with 31 million clients spread over two retail banking networks, Banque Populaire and Caisse d’Epargne. With more than 21,000 employees, Natixis has a number of areas ofexpertise that are organized into four main business lines: Asset & Wealth Management, Corporate & Investment Banking, Insurance and Specialized Financial Services.


with N


eases support for Natixis in Africa OPEC Fund Director-General Dr Abdulhamid


rica OPEC Fund D lkhalifa signed the incr


Alkhalifa signed the increased agreement with Natixis’ Stephen Menke, Global Head of Marketing and Sales, Trade Syndication and Distribution. Dr Alkhalifa said: “We are pleased to expand our partnership with Natixis. Both our organizations have ambitious development aspirations and recognize the importance of trade his tr


al Dr Abdulhamid ead of


e pleased


ganizations have ambitious development to socio-economic progress. This transaction 8 on decent work and economic growth and


to expand our partnership with N aspir


supports Sustainable Development Goal (SDG) 8 on decent work and economic growth and will improve the livelihoods of many business ployees and their families n continent. elas,


suppor


will improve the livelihoods of many business owners, employees and their families across the A rican continent.” Anne-Cécile Delas


across the Af écile De ustainable Development Goal (SDG)


Natixis’ Global Head of Trade and Treasury Solutions said: “Natixis is proud to enhance its collaboration with the OPEC Fund and to support the growth of trade in emerging countries by means of this partnership. We believe in the economic potential of the emerging markets, which we support for a sustainable improvement of social and economic development. he OPEC Fund’s Trade Finance Facility


Solutions said: “Natixis is pr collabor the gr


means of this partnership


economic potential of the emerging mark which we support for a sustainable impr of social and economic development.” The OPEC Fund’s T ade F


goods acilit


supports private enterprises and governments by facilitating the import and export oft of strategic commodities and capitalategic commodities and capital goods. Since 2006, US$4.2, US$4.2 billion has been approved under this facility.


supports private enterprises and governments by


billion has been approved under this facility.


ging countries by


“Natixis is proud to enhance its collaboration with


the OPEC Fund and to support the growth of trade in emerging countries by means of this partnership.” Anne-Cécile Delas, Natixis’ Global Head of Trade and Treasury Solutions


31


PHOTO: EQRoy/Shutterstock.com


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