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22.10.2014

EXIAR and Sberbank increase cooperation

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Sberbank of Russia have signed a cooperation agreement.

The document was signed by EXIAR CEO Peter Fradkov and First Deputy Chairman of the Sberbank Executive Board Maxim Poletaev.

Under the agreement, the two organisations will develop and implement a joint lending programme for export-oriented SMEs and other producers with an annual trade turnover of up to 2 billion RUB. EXIAR will insure the bank against the risks of loan default by a borrowing exporter.

The aim of the joint programme is to offer SMEs and developing exporters an advantageous lending framework to grow their export business with EXIAR’s insurance support.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011 as an open joint-stock company. 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. Vnesheconombank is the sole shareholder of EXIAR. The agency's charter capital is RUB 30 billion. 

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