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News

16.10.2017

EXIAR and CBI sign the MoU on cooperation in financing Russian-Iranian joint projects

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and the Central Bank of Iran (CBI) agree on the main conditions of bank-to-bank cooperation to facilitate ECA-backed financing of Russian-Iranian joint projects and boost their realization in various sectors. On behalf of EXIAR, the Memorandum of Understanding was signed by Mr. Alexey Tyupanov, CEO of EXIAR, on behalf of CBI – by Mr. Seyed Ahmad Araghchi, Vice Governor for Foreign Exchange Affairs & Member of Executive Board of CBI.
The MoU is the result of productive work by both teams and based on the demand and request from business and financiers of both Russia and Iran. According to the Memorandum, EXIAR and CBI have agreed on the general guidelines for the ongoing cooperation, yet the specific terms under individual transactions are subject to the respective parties’ separate agreements.

Mr. Tyupanov commented that EXIAR has already been reviewing a substantial pipeline of deals that will definitely benefit from the new financial opportunities opened by the present MoU. He also added that Iran remains one of the top geographical priorities for the promotion and support of Russian export activities in line with the general trends of the Russian foreign trade and emphasized EXIAR’s determination to contribute into closer cooperation between Russia and Iran by means of both financial and non-financial support from the companies of the REC Group.

Following the present agreement, EXIAR and CBI reconfirmed their readiness to continue their mutual support to the Russian-Iranian export-import transactions and implement the adopted conditions into practice. During the meeting following the official signing ceremony, Mr. Tyupanov and Mr. Araghchi discussed in detail the possible developments of Russian-Iranian collaboration in the financial sphere and also exchanged information on joint projects to coordinate on the further steps to be taken from both sides.