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EXIAR will insure the risks of non-repayment of advances on import contracts and bank loans to importers

EXIAR will insure the risks of non-repayment of advances on import contracts and bank loans to importers
24.06.2022 г.

EXIAR’s product line will be replenished with new insurance products for importers, primarily insurance of advance payments and bank loans upon import. Nikita Gusakov, Director General of EXIAR, Senior Vice President of the Russian Export Center, spoke about this during the 25th St. Petersburg International Economic Forum.

“In March, the competences of the REC Group, including EXIAR, were expanded. Now, along with the main task of supporting exports, we have the opportunity to support Russian companies in matters of importing products necessary to ensure the production of Russian goods and the implementation of investment projects. We are developing new tools for financial and non-financial business support. For example, EXIAR will insure the risk of non-repayment of advance payments under import contracts and loans provided by banks to importers. We are sure that advance insurance is a popular tool, because in the current situation, counterparties of Russian companies request advance payments for deliveries in the amount of up to 70% of the contract, although earlier the amount did not exceed 20%”,

– clarified the head of EXIAR (the REC Group, part of VEB.RF).