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07.06.2012

Announcement from the Board of Directors

A meeting of the Board of Directors of the Russian Agency for Export Credit and Investment Insurance took place on 7 June 2012.

As part of the Agency's plan to draw up regulatory documentation which will govern the organisation's work, the Board of Directors has reviewed and approved a range of internal regulatory documents, including provisions on the procedure for calculating insurance rates, the Agency's risk management, and the formation of insurance reserves. During the meeting, the General conditions of buyer credit insurance were approved, as was the contractual documentation.

The Board of Directors also approved EXIAR's business report for Q1 2012.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in October 2011. EXIAR’s mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. EXIAR’s sole shareholder is Vnesheconombank. The Agency’s charter capital is RUB 30 billion (approx. USD 1 billion).