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Business news

13 Feb 2015

Russian export insurance agency interested in new projects in Belarus

MINSK, 13 February (BelTA) – OAO EXIAR (The Export Insurance Agency of Russia) is interested in the implementation of new investment projects in Belarus, BelTA learned from the Information and Public Relations Office of the National Bank of the Republic of Belarus (NBRB) after NBRB Chairman of the Board Pavel Kallaur met with Piotr Fradkov, First Vice Chairman, member of the Board of the Russian bank Vnesheconombank, and Alexei Tyupanov, Chairman of the Management Board, Director General of OAO EXIAR.

During the negotiations that took place at premises of the National Bank of the Republic of Belarus the sides expressed mutual interest in continuing the mutually beneficial cooperation and the implementation of new projects in the near future, including investment ones.

First Vice Prime Minister of Belarus Vasily Matyushevsky, NBRB First Deputy Chairman of the Board Taras Nadolnyi, Belarusian First Deputy Finance Minister Maxim Yermolovich, and OAO BelVEB Bank Chairman of the Board Nikolai Luzgin also took part in the negotiations.

In 2013-2014 Russian Vnesheconombank granted credit resources to a number of Belarusian companies, including Vitebskenergo, Mogilevkhimvolokno, Belgorhimprom, and BelAZ. The money was spent on projects involving purchases of merchandise and services from Russia. As a rule, the money was made available with insurance coverage provided by EXIAR, which cooperates with BelVEB Bank.

In 2014 alone EXIAR provided insurance coverage worth about $1.7 billion to 61 projects in Belarus, NBRB representatives told BelTA.

OAO EXIAR (Export Insurance Agency of Russia) was created in October 2011 as a wholly-owned daughter enterprise of Vnesheconombank with the charter capital of RUB30 billion. Russia’s state insurance support is available to operations of the agency.

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