The Finance company of the French economy granted 5 billion euros of loans to 7 banks

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The Finance company of French economy (SFEF) lately created granted five billion euros of loans to seven French banks to start again the credit with the economy, announces to Friday the Minister for the Economy Christine Lagarde.

“The action of the SFEF supplements the proposal of the State to bring 10,5 billion euros of equities to the banking environment”, indicates the official statement of Bercy.

“The Case of the Deposits granted the SFEF a loan relay for the financing of this operation”, specifies the text, which recalls that “to reach this counter of financing, the banks were in particular committed by convention with the State maintaining a rate of 3 to 4% of annual progression of their incur appropriations with the economy”.

“The action of the SFEF lies within the scope it national plan to finance the economy adopted in the Council of Ministers on October 13 and put opens some by the corrected finance law for the financing of the economy of October 16, 2008”, explains the ministry for Finances. “Under the terms of this law, the SFEF has a guarantee of the State until December 31, 2009 with height of 320 billion euros”.( Finance Information City )