French Banks Finance Argentina’s Purchase of French OPVs

Argentina Buys Four OPVs from France for €318M Euros

(Source: Defense-Aerospace.com; posted Dec 06, 2018)

The offshore patrol vessel L’Adroit, seen here during its service with the French Navy, will be delivered to Argentina next year, after a refit, and will be followed by other similar ships built to Naval Group’s OPV-90 design. (FR Navy photo)

PARIS --- Argentina and France signed a contract during the G20 meeting in Buenos Aires for the financing of four Naval Group patrol vessels for the Argentinian Navy at a cost of 318 million euros.

The first ship to be delivered is L’Adroit, an offshore patrol vessel built as a private venture by Naval Group and leased by the French Navy to explore and validate its design concept. Her delivery to Argentina is planned for 2019, after a general refit and specific modifications requested by the Argentine Navy.

The contract was signed by French Economy Minister Bruno Le Maire and his Argentine counterpart, Nicolás Dujovne, and was authorised by decree n° 1078-2018 published in Argentina’s official bulletin.

Altogether, the four ships will cost 319.03 million euros, that Argentina will pay thanks to a financing package put together by French banks Crédit Agricole Corporate and Investment Bank and Natixis, together with Spain’s Banco Santander.

The other three ships are to be built to Naval Group’s Gowind OPV-90 design.

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Financial Support from France for € 319 Million to Improve Maritime Surveillance and Control

(Source: Argentina Ministry of Economy; issued Nov 29, 2018)

(Unofficial English translation by Defense-Aerospace.com)

The Minister of Finance, Nicolás Dujovne, together with authorities of the financial institutions Credit Agricole Corporate and Investment Bank, Natixis and Banco Santander S.A., signed the financing agreement for € 319 million for the Naval Patrol Capacity Recovery project. This operation constitutes the largest credit operation with Export Credit Agencies (ECA) of this government.

The objective of the project is to improve the surveillance and control of our maritime area of interest with naval surface vessels, which extend over 138,303 nautical miles in the Exclusive Economic Zone (EEZ) of the Argentine Republic. This credit operation was the result of negotiations carried out with French banks by officials of the Ministry of Finance.

In this regard, provision is made for four Integrated Multipurpose Patrol Units (known as Offshore Patrol Vessel in English), which will complement the missions of the Argentine Navy in relation to the patrolling of the EEZ for the preservation of renewable resources and non-renewable resources in the maritime area of national interest.

They will also support the safeguarding of human life at sea, while at the same time they will allow to attend the Antarctic activities, thus providing support to the bases and vessels that operate in the region.

During the meeting, held at the Casa Rosada in the framework of the G20 Summit, were present the Ministers of Economy and Finance of the French Republic, Bruno Le Maire, and of European and Foreign Affairs, Jean-Yves Le Drian. Also attending was the Undersecretary of International Financial Relations of the Argentine Ministry of Finance, Martín Soto.

It is worth highlighting the constant support that France has given to our country in recent times, corresponding to the confidence placed in the strategic objectives implemented by this government for the economic, productive and sustainable development of our country.

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