EXIAR insures supplies of diesel fuel to Tajikistan
The Russian Agency for Export Credit and Investment Insurance (EXIAR) has insured a targeted interbank loan from Novikombank to Tojiksodirotbank to finance supplies of diesel fuel to Tajikistan. The supplier in the deal is the Russian company Gas-Trade. The corresponding insurance contract was signed between EXIAR and Novikombank.
Under the terms of the interbank agreement, a loan of USD 392,700 was provided to Tojiksodirotbank of Tajikistan to pay for diesel fuel supplied by Gas-Trade, the Russian exporter for the Tajik company Aurum Spika.
This is the latest in a series of deals between EXIAR and Novikombank which have been completed as part of the support programme for Russian exports.
EXIAR's modern financial support mechanisms for the Russian industrial sector enables national exporters to expand their reach, benefit from readily available financial resources, and strengthen relations and trade between the two countries.
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.
Novikombank was established in 1993. Today it is a stable and fast-growing financial institution, providing clients with a full range of banking services. Novikombank is the base bank of Rostec, and focuses on providing financing to Russian industrial companies, including those operating in high-tech industries, aviation, and the car industry. As at 1 June 2014, the bank's capital was over RUB 22.6 billion, with over RUB 207 billion in assets. Novikombank is among the top 40 largest Russian banks, is a base bank in the CIS and Customs Union, and is successfully developing the 'Bank for Banks' programme.
Tojiksodirotbank was established on 20 March 1992. It is a universal bank, providing a full range of banking services to individuals and companies, and is a leading player in the financial market. Currently, Tojiksodirotbank's capital accounts for 23% of the total figure across Tajikistan's 17 banks, 24% of total assets, and 23% of deposits. Tojiksodirotbank’s credit investments account for over 25% of the credit investments of all of Tajikistan’s banks combined. The bank is working to improve the structure and quality of its credit portfolio, diversifying assets by economic sectors, categories of borrowers, and areas of business.
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