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News

19.12.2014

EXIAR insures Novikombank's export financing of woodworking machinery to Belarus

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Novikombank have signed an export credit insurance contract for a loan issued to the Belarusian bank Belinvestbank.

Under the document, EXIAR insured Novikombank's financing of an export contract to deliver woodworking machinery manufactured by the Proletarskaya Svoboda plant to the Belarusian company Borisovdrev. As part of the deal, Belinvestbank received a loan from Novikombank to subsequently finance the buyer.

Over EUR 760,000 in credit was insured.

Novikombank and EXIAR have been greatly increasing their level of cooperation, as well as the volume of Russian export finance insured by the Agency. Today, the total volume of EXIAR-insured loans extended to banks or direct buyers of Russian products based in neighbouring countries has exceeded USD 78 million.

Export Insurance Agency of Russia (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. EXIAR holds a charter capital of RUB 30 billion. Eximbank of Russia is a subsidiary of EXIAR.

External Communications EXIAR