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Empresas y finanzas

France to back bank loans and offer capital


    PARIS (Reuters) - France will use two funding vehicles to prop up the financial sector, one of which will guarantee bank lending and the other will provide capital to banks in need, President Nicolas Sarkozy said on Monday.

    The bank lending vehicle will have up to 320 billion euros (251 billion pounds) at its disposal while the second body will have a potential budget of 40 billion euros, he said.

    (Reporting by Anna Willard, Francois Murphy, editing by Crispian Balmer)