OFID signs agreement with Natixis to bolster trade in developing countries

14.11.2018 | E45/2018

Vienna, Austria, November 14, 2018. OFID – the OPEC Fund for International Development – has signed a US$50 million unfunded risk sharing agreement with Natixis., part of Groupe BPCE, France’s second-largest banking group.

Under the agreement, OFID guarantees trade finance instruments issued by banks in developing countries to support the trade transactions of local businesses and corporations. The agreement focuses in particular on African countries and will bolster trade and development.

The agreement was signed for OFID by Assistant Director-General, Public Sector Operations, Fuad Albassam. Thomas Rogé, Director, Trade Syndication & Distribution, and Stephen Menke, Global Head of Trade Finance, signed the agreement for Natixis.

Assistant Director-General and Head of OFID’s Private Sector and Trade Finance Operations Department, Tareq Alnassar, said he was pleased to be working with Natixis, one of OFID’s highly respected partners. “This agreement will help to stimulate trade in a wide range of African countries,” said Alnassar. “Access to trade finance is integral to social and economic development. This agreement has the potential to make a significant difference from a development standpoint.”

Anne-Cécile Delas, Global Head of Trade & Treasury Solutions for Natixis, said: “By entering this new privileged relationship with OFID, not only do we enhance our capacities to provide larger funds in more than 24 emerging-market countries, but we keep reaching for excellence in terms of the quality of services we provide to our clients.”

Through its unfunded trade finance risk sharing agreements, OFID has supported a large number of beneficiaries via 328 local and regional banks across 63 countries in all regions. Low-income countries account for 27 percent of the beneficiaries. The programs support around 4,700 operations, stimulating some US$16 billion of incremental trade.

About OFID

OFID is the development finance institution established by the Member States of OPEC in 1976 as a channel of aid to developing countries. OFID works in cooperation with developing country partners and the international donor community to stimulate economic growth and alleviate poverty in all disadvantaged regions of the world. It does this by providing financing to build essential infrastructure, strengthen social services and promote productivity, competitiveness and trade. OFID’s work is people-centered, focusing on projects that meet basic needs – such as food, energy, clean water and sanitation, healthcare and education. OFID aims to encourage self-reliance and inspire hope for the future.

About Natixis S.A.

Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the 2nd-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 of expertise that are organized into four main business lines: Asset & Wealth Management, Corporate & Investment Banking, Insurance and Specialized Financial Services. A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE’s banking networks. Listed on the Paris stock exchange, it has a solid financial base with a CET1 capital under Basel 3(1) of €11.9 billion, a Basel 3 CET1 Ratio (1) of 10.8 % and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A). (1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise – without phase-in. Figures as at June 30, 2018.  www.natixis.com