EXIAR's role in the state export support system
- Year of creation: 2011
- Authorized capital: 63,971,933,000 ₽
- State guarantee: 20 billion US dollars
The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011. The Agency is a specialized state export support institution for implementation of insurance tools for protection of export credits and investments. EXIAR is the National Export Credit Agency (ECA). Since the establishment of the Agency, the State has formed and implemented a number of systemic initiatives to provide incentives for development of export activities both at national economy level and related to certain areas and sectors (innovations, aircraft construction, agricultural products, exports of SMEs, etc.).
The main purpose of EXIAR's activity is to support high-tech exports and investments abroad through insurance of business and (or) political risks.
The Agency is an active participant in development of the State export support system and regularly interacts on these issues with key ministries and departments (including the Government of the Russian Federation, the Ministry of Economic Development of the Russian Federation, the Ministry of Finance of the Russian Federation, the Ministry of Industry and Trade of the Russian Federation, etc.), accumulating expertise and international experience as in a specialized area of financial instruments, and being a provider of the interests of exporters due to accumulated experience of working with export transactions and understanding the specifics of development of export operations in Russia. In December 2015, JSC "Russian Export Center" (part of the VEB.RF group) became the sole shareholder of JSC "EXIAR".
Strategic directions of the Agency's activities:
- insurance support for the export of Russian-made goods and services, assistance in entering new markets;
- insurance support for Russian investments abroad;
- development of a modern export financing system secured by the Agency's insurance coverage;
- support for export-oriented SMEs.