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News

03.12.2014

EXIAR insures shipments of agricultural machinery to Kazakhstan

 The Russian Agency for Export Credit and Investment Insurance (EXIAR), KazAgro Holding and Rostselmash Combine Plant have signed an insurance coverage cooperation agreement at an intergovernmental commission meeting between Russia and Kazakhstan in Astana. The meeting was headed by Russian First Deputy Prime Minister Igor Shuvalov and Kazakh First Deputy Prime Minister Bakytzhan Sagintayev.

The document was signed by EXIAR CEO Peter Fradkov, Kairat Aituganov (representing KazAgro Holding) and General Director of Rostselmash Combine Plant Valery Maltsev.

The objective of the agreement is to coordinate joint efforts for exporting agricultural machinery manufactured by Rostselmash for the benefit of agricultural producers and borrowers KazAgro Holding, with insurance coverage provided by EXIAR.

Under the terms of the agreement, the parties will focus on developing a framework for insuring projects, analysing project risk and efficiency, and developing a financing framework.

The objective is ultimately to support and increase high-tech Russian exports to Kazakhstan.

To date, the Agency has already supported three projects involving KazAgroFinance and Rostselmash in which over 140 items of machinery were delivered.

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. Eximbank of Russia is a subsidiary of the agency.

KazAgro Holding is tasked with implementing state policy to develop Kazakhstan's agricultural industry by ensuring efficient management of the investment assets within the companies in the group. The holding company incorporates the Food Contract Corporation, KazAgroProduct, KazAgroFinance, the Agrarian Credit Corporation, the Agriculture Financial Support Foundation, KazAgroGarant and KazAgroMarketing.

Rostselmash is one of the five largest manufacturers of agricultural machinery. The company, which celebrated its 85th anniversary in 2014, manufactures 24 types of agricultural machinery and over 150 models and versions at facilities in Russia, Canada, the US and Kazakhstan. These include the TORUM, ACROS, VECTOR and NIVA combine harvesters; the DON 680M and RSM 1401 forage harvesters; VERSATILE mowers, tractors and crop sprayers; and tilling and forage machinery. A wide dealer network of 500 centres and branches across 26 countries provide comprehensive sales and after-sales services.

External communications EXIAR