EXIAR supports Russian mineral fertilizer exports
The Russian Agency for Export Credit and Investment Insurance (EXIAR) has insured a loan as part of a financing program for Russian mineral fertilizer exports to various international markets.
As part of the deal, EXIAR insured a loan issued by VTB for more than $100 million to the URALCHEM Group, one of Russia’s largest mineral fertilizer companies.
The insurance policy between EXIAR and VTB will make it possible to create more favorable financial conditions for stimulating the export of URALCHEM Group’s mineral fertilizers. The Group currently ships to Brazil, India, Ireland, Finland, Peru, and Sweden.
Yuri Soloviev, First Deputy President and Chairman of VTB’s Board, remarked, “This financial tool will allow the URALCHEM Group to increase the size of its production and create more products. Financial support for exports is one of our important business directions and is also a reliable tool for helping Russian exporters.”
In his remarks, EXIAR’s CEO Alexey Tyupanov highlighted that “VTB Bank is a reliable financial partner for EXIAR. Using EXIAR’s existing tools and the financial capabilities of VTB – one of Russia’s largest banks – help us provide significant support to Russian exporters, including a leader in Russia’s mineral fertilizer industry, the URALCHEM Group.”
The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011. EXIAR's mission is to support Russian hi-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 43.5 billion. The State Specialized Russian Export-Import Bank (Eximbank of Russia) is a subsidiary of EXIAR.
VTB Bank (a publicly traded organization) and its subsidiary banks and financial organizations (the VTB Group) are Russia’s leading financial group. The Group offers a wide range of financial and bank services in Russia, the CIS, Western Europe, North America, Asia, and Africa. In Russia, the Group conducts bank operations through one parent bank (VTB Bank) and subsidiary banks – the largest of which are VTB24 and the Bank of Moscow. The Group’s subsidiary financial organizations provide services on the securities market, insurance, leasing, factoring and other financial services. Today, VTB Group possesses an international network that is unique for Russian banks; it includes more than 30 banks and financial companies that operate in more than 20 countries around the world. As of October 31, 2015, VTB Group is the second largest financial group in Russia in terms of equity (RUB 12.6157 trillion) and client assets (RUB 7.3163 trillion). VTB’s primary stakeholder is the Russian government, which owns 60.9% of share capital through the Federal Agency for State Property Management. Go to www.vtb.com for more information.
URALCHEM Holding P.L.C. is one of the largest mineral fertilizer companies in Russia, the CIS, and Eastern Europe. The company leads the Russian market in producing ammonium nitrate, while it is Russia’s second largest producer of ammonia and nitrate fertilizers.
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