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News

21.11.2012

Export credit agencies of Russia and Poland to increase cooperation

A cooperation agreement between the Russian Agency for Export Credit and Investment Insurance (EXIAR) and the Export Credit Insurance Corporation (KUKE) was signed at a meeting of the Intergovernmental Polish–Russian Commission for Economic Cooperation in Moscow.

The document was signed by Deputy CEO of EXIAR Alexei Rudenko, and President of KUKE Dariusz Poniewierka.

Under the agreement, the two parties will cooperate on supporting Russian and Polish projects in third countries which involve deliveries of goods and services from Russia and Poland.

EXIAR and KUKE expressed their intent to increase cooperation in the field of export credit insurance and attracting financing for export projects.

This agreement will enable EXIAR and KUKE to step up work on joint Russian–Polish projects in third countries.

The Export Credit Insurance Corporation (KUKE) was established in 1991, and is Poland’s national export credit agency. The state is the majority shareholder of KUKE. The agency’s mission is to support exports and institutes which provide financing to export projects. It also provides guarantees and insurance for Polish exports.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in October 2011. 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’s sole shareholder is Vnesheconombank. The Agency’s charter capital is RUB 30 billion (approx. USD 1 billion).