and France, marking the Emir s first official visit to Europe since his reign began in 2006. The Emir was welcomed at headquarters by Michel Pébereau, who reiterated how proud BNP Paribas was to have been chosen as the first foreign bank authorised to set up in Kuwait. The Chairman also expressed his appreciation to the Kuwaiti Head of State for the trust he had placed in BNP Paribas.
Michel Pébereau also reiterated the Group s strategy in Kuwait, and its dedication to serving the needs of the market for the long term. We will keep on focusing on corporates and high net worth individuals, he said. We will be mobilising all the resources of our Group in order to meet the expectations raised by the opening of this attractive and promising market to international banks.
Today, BNP Paribas is proven as a resilient global bank with an on-the-ground presence in all major markets listening to its clients and matching their constantly growing and changing needs. These traits were recognised in 2012, when BNP Paribas was awarded the Bank of the Year award by IFR, a prominent Thomson Reuters finance publication.
Kuwait s Diversification
In recent years, Kuwait has undertaken a process of reform with the aim of speeding up the diversification of its economy. The adoption of a four-year, US$127 billion investment plan as part of the Kuwait Vision 2035 launched by H.H. Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah is oriented around projects in real estate, health, education and transportation, in order to build a sustainable future for the country. In addition, Kuwait s policy of public- private partnerships is set to foster development projects in the air transport sector, telecommunications, power generation and desalination.
The Group has consistently aligned itself as a strategic partner to these growth ambitions, and has won a number of deals in the process. Recent deals include a five-year loan for a major petrochemicals company in 2007, which was the first time the company had taken out a syndicated loan.
FAHAD AL-RAJAAN, DIRECTOR GENERAL
OF THE PUBLIC INSTITUTION FOR SOCIAL SECURITY, AND MICHEL
PÉBEREAU, CHAIRMAN OF BNP PARIBAS,
CELEBRATE THE FIRST ANNIVERSARY
OF THE BNP PARIBAS KUWAIT BRANCH, APRIL 2006
153F I V E C O M M I T T E D PA R T N E R S H I P S