Russian Agency for Export Credit and Investment Insurance Celebrates 10th Anniversary

In October, the Russian Agency for Export Credit and Investment Insurance (EXIAR JSC, REC’s member) is celebrating its 10th anniversary.

In cooperation with other development institutions and agencies, EXIAR provides insurance support to domestic producers of goods and services, stimulating export activity and contributing to the implementation of the national project on “International Cooperation and Export”.

The agency was established 10 years ago in order to protect Russian companies from the risks related to export activities and to provide them with comfortable conditions for interaction with foreign customers as well as for entry into new markets.

“In 10 years we have provided support to Russian exporters in the amount of more than $90 billion. Our insurance capacity exceeded one trillion rubles. Over the 10 years, more than 2,000 domestic export projects have received the agency’s support. EXIAR cooperates with 80% of Russia’s major exporters. The agency also focuses on small and medium-sized business companies. Many of them are at the very beginning of their export path, and EXIAR offers them specialised products developed to secure and facilitate their job”, Nikita Gusakov, senior vice-president of the Russian Export Center (REC) and CEO of EXIAR, said.

According to him, the agency owes its success to the well-coordinated work of the team: “We work primarily for exporters, developing offers that can help them to fulfil their ambitions in foreign markets. I want to express my gratitude to our colleagues and partners. We appreciate our cooperation and the contribution we make together to the development of domestic exports”, Nikita Gusakov highlighted.

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EXIAR JSC is a member of the Russian Export Centre (part of VEB.RF). EXIAR provides export insurance against commercial and political risks.

The REC Group together with VEB.RF are actively involved in the implementation of the national project on “International Cooperation and Export”, which is aimed at the achievement of a 70 percent increase in non-energy exports in monetary terms by 2030.