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Eximgarant of Belarus and Ukreximbank made an agreement on export insurance

General Agreement on cooperation and joint activity of Belarusian Republican Unitary Enterprise of Export-Import Insurance Eximgarant of Belarus and Public Joint-Stock Company State Export-Import Bank of Ukraine was signed on October 3, 2013.

Eximgarant of Belarus and Ukreximbank made an agreement on export insurance

The Agreement provides for cooperation of state financial enterprises of Ukraine and Belarus in export loans and investments insurance.

The main objective of cooperation is expansion of commodity turnover between the countries and implementation of investment projects.

“Ukreximbank appreciates start of cooperation with Eximgarant of Belarus”, noted Vitaliy Belous, the Chairman of the Board of Joint-Stock Company Ukreximbank. “Signing of general agreement between our companies is logical continuation of those close relations that have formed between two countries in their economies and investments.”

The Parties are going to start implementation of the Agreement in the nearest future ranging from consultations and information exchange to implementation of large investment projects.

“Mission of Ukreximbank and Eximgarant of Belarus is to develop commodity turnover between Belarus and Ukraine and businessmen from our countries are interested in it”, noted Gennadiy Mitskevich, the director general of Eximgarant of Belarus. “The instruments that our financial institutions possess will complement each other and we are ready to exchange our experience within export insurance and export crediting to strengthen economic ties. Therefore we hope for close cooperation with Ukreximbank, one of the largest and most reputable banks of Ukraine, on an on-going basis in implementation of certain programs.”

Information:

Belarusian Republican Unitary Enterprise of Export-Import Insurance Eximgarant of Belarus is one of the largest insurance companies in the Republic of Belarus with 100% state capital. It is solely authorized to insure in the name of the Republic of Belarus. The volume of insured export loans and investments exceeded 2 billion US dollars. Eximgarant of Belarus is a member of Prague Club of International Union of Credit and Investment Insurers since 2002.

Public Joint-Stock Company State Export-Import Bank of Ukraine is universal credit and financial institution with 100% state capital. It is one of the largest systemic banks of Ukraine and has the most branched network of correspondent banks.

Joint-Stock Company Ukreximbank successfully cooperates with such leading international financial organizations as World Bank, European Bank for Reconstruction and Development, KfW, NIB, IFC, with large foreign banks and credit and financial institutions. Impeccable reputation in international financial markets and positive results of longstanding work in export financing helped the Bank to achieve recognition as direct borrower and guarantor from 35 leading export-crediting organizations in the world.

Picture: Vitaliy Belous, the Chairman of the Board of Joint-Stock Company Ukreximbank (on the left), and Gennadiy Mitskevich, the director general of Eximgarant of Belarus (on the right), are signing the Agreement.

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