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10.10.2013

SACE to hold workshops for EXIAR employees

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and SACE, the export credit agency of Italy, have signed an agreement to hold workshops and training sessions on the application of OECD standards to export credits with government support. The agreement was signed by Peter Fradkov, CEO of EXIAR, and Raoul Ascari, COO of SACE.

The workshops and training sessions will focus on an analysis of the OECD regulatory framework and its impact on the export credit business, as well as a demonstration of how it is implemented at SACE.

In March 2013 EXIAR and SACE signed a Reinsurance Agreement to support Russian and Italian companies participating in joint projects.

In 2012 EXIAR and SACE signed a Memorandum of Understanding in order to develop mutually beneficial cooperation through exchanging experience and collaborating on current and future projects. SACE previously acted as EXIAR’s advisor by providing methodological support for the implementation of insurance products, as well as in the field of risk management.

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.

SACE is an insurance and financial group operating in the field of export credit, credit insurance, investment protection, financial guarantees, sureties and factoring. The group assists its clients in more than 180 countries, ensuring more stable cash flows and transforming companies’ risks of insolvency into development opportunities. SACE is present in key emerging markets with an international network of representative offices worldwide. SACE’s Office in Moscow acts as a hub for Russia and the CIS Region.

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