ANNOUNCEMENT 17 Sep 2013

In September 2013, the government of the Russian Federation announced a change in its trade finance instruments.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 19 Sep 2013 | Removal date: open ended
Still in force

Trade finance

On 17 September 2013, the Russian Ministry of Economic Development announced that the state entity Russian Agency for Export Credit and Investment Insurance (EXIAR) will provide insurance coverage for a new credit scheme of OJSC Sberbank. Selected Russian exporters can benefit from this state support measure.
 
The parameters of the scheme are as follows:
 
Period of funding:

  • Up to 20 years.

 
Strategic goals of the bank financing:

  • Geographical expansion of exports and attraction of new customers;
  • Improved access to credit financing;
  • Reduced loan collateral;
  • Ability to use a variety of export financing schemes.

 
Purpose of the loan:

  • To finance the production and export of Russian goods and services.

 
Specific requirements:

  • The coverage of EXIAR must not exceed 85% of the contractual price;
  • The coverage of EXIAR is provided for hi-tech production;
  • Obligatory presence of a Russian component in the exported goods / services.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A