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10.11.2014

EXIAR supports export of services to Cameroon

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Zarubezhvodstroy have signed an insurance contract for the export of services to the Far North Region of the Republic of Cameroon. The project will involve the development of a regional water resources plan and a feasibility study for hydraulic and irrigative facilities in the area.

Under the terms of the agreement, EXIAR is insuring the exporter against possible losses arising from the buyer failing to fulfil his obligations to pay for services rendered. The total value of the export contract is approximately USD 8 million.

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.

Zarubezhvodstroy is the successor to the state enterprise of the same name, which was established in 1963 by the Ministry of Water Management of the Russian Soviet Federative Socialist Republic. It was originally tasked with constructing waterworks systems abroad. Today it is one of only a few construction organisations with a full process cycle, capable of acting both as a main contractor and developer simultaneously.

External communications EXIAR