Sberbank CIB organises deal covered by EXIAR to supply power equipment to Europe
Sberbank CIB has organised a deal covered by EXIAR to supply high-tech power equipment to Poland under an export contract of one of the Russian Far East’s power engineering firms – JSC Far Eastern Power Engineering Plant (Dalenergomash). This is the latest in a line of deals between Sberbank and EXIAR. Participation in EXIAR projects allows Russian exporters and their buyers to not only minimise settlement risks, but also to receive additional financial resources.
Oleg Konyushev, General Director of Dalenergomash, commented: “The structure of the deal proposed by Sberbank CIB, which involved EXIAR, enabled us to broaden the geography of our export operations and reduce potential supply risks as much as possible.”
“We are glad to provide domestic exporters with principally new opportunities to grow their business and extend coverage of sales markets,” said Andrey Ivanov, Head of the Trade Finance and Correspondence Relations Division at Sberbank CIB. “For us, supporting Russian exports in cooperation with EXIAR is a strategic task and a reliable lever for stimulating the country’s economic growth.”
Peter Fradkov, CEO of EXIAR, commented: “Promoting the export of Russian products to foreign markets is a priority for our agency. We consider that the cooperation between EXIAR and Sberbank will help domestic manufacturers widen their distribution geography.”
The Corporate & Investment Banking Business (Sberbank CIB) was created as part of the integration of Sberbank of Russia and Troika Dialog. Sberbank CIB’s key areas of activity are corporate finance (including trade finance), the documentary business, investment banking services, trade operations with securities, and private equity. Sberbank of Russia’s Corporate & Investment Banking Business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.
Export Agency of Russia (EXIAR) was founded in October 2011 as an open joint-stock company. The main goal of the agency is to support high-tech exports by insuring export credits against credit and political risks and insuring Russian foreign investments against political risks. Vnesheconombank is the sole shareholder of EXIAR. The Agency has an authorised capital of 30 bln roubles.
External communications EXIAR