OREANDA-NEWS. November 16, 2011. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ participated in 128th session of the OECD Working Group on Export Credits and Guarantees on November 15, 2011.

In accordance with the session’s agenda and as part of promoting the Russian Federation’s entry into the OECD a presentation of the Russian Export Credit and Investments Insurance Agency set up by Vnesheconombank was made.

The presentation was made in accordance with the accords reached following the workshop organized in September of 2011 by the Russian Economic Development Ministry together with OECD with the participation of Vnesheconombank and leading foreign export credit agencies Coface (France), EGAP (the Czech Republic) and SACE (Italy).

The OECD Working Group on Export Credits and Guarantees was set up in 1963. The Group’s activity is aimed at formulating joint policy in the field of export credits with maturity periods of 2 or more years insured by export credit agencies operating with the assistance of or funded by governments of OECD member countries. The Group is composed of OECD member countries as well as organizations having observer status (the EC Commission, WB, the IMF and the EBRD).

State Corporation ‘Bank for Development and Foreign Economic Affairs 9Vnesheconombank)’ has been cooperating with the OECD Working Group on Export Credit and Guarantees since 2008.