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07.06.2013

EXIAR and IIB to foster cooperation

Today Russian Agency for Export Credit and Investment Insurance (EXIAR) and International Investment Bank (IIB) signed Agreement on Strategic Cooperation in Bratislava. On behalf of EXIAR the Agreement was signed by Petr Fradkov, CEO, on behalf of IIB – by Nikolay Kosov, Chairman of the Board.

According to the Agreement, the key cooperation lines between EXIAR and IIB involve joint funding and insurance support to Russian exporters, financing arrangements, including project lending, financing export supplies of leading Russian high-tech manufacturers, delivered to member countries of IIB.

Another cooperation area between EXIAR and IIB would focus on joint development of facilities and instruments for risk evaluation of integrated projects including stages of export products manufacturing, shipping and deferred payment for delivered goods, covered by EXIAR through all project implementation stages.

OJSC Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in October, 2011. EXIAR’s mission consists in Russian high-tech exports support through insurance of 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 makes RUR 30 billion (ca USD 1 billion).

International Investment Bank (IIB) — an interstate institution established and operating in accordance with Intergovernmental Agreement of establishing International Investment Bank and its Charter. The Agreement was signed by member countries of the Bank on July 10, 1970 and registered under number 11 417 in UN Secretariat.

The Bank members are: the Republic of Bulgaria, the Socialist Republic of Vietnam, the Republic of Cuba, Mongolia, the Russian Federation, Romania, the Slovak Republic, the Czech Republic.

External Communications EXIAR