OREANDA-NEWS. May 23, 2012. Vnesheconombank Board Member Petr Fradkov participated in a session of the Prague Club of Export Credit and Investment Insurers in the city of Almaty on May 22, 2012. The session was held with an organizational support of the joint stock company Export-Credit Insurance Corporation KazExportGarant.

The session’s participants discussed trends in insurance business development within the Berne Union and the Prague Club, the crisis impact on trade in insurance services including the influence of the debt crisis in the Euro zone on the development of insurance business, topical issues of cooperation between export credit agencies and banks to support foreign trade and etc.

After the session of the Prague Club a decision was taken to admit national export credit agencies of Russia and Latvia to membership in the Prague Club. Vnesheconombank Board Member, Director General of EXIAR Petr Fradkov made a presentation of the Export Insurance Agency of Russia (OJSC EXIAR) set up by Vnesheconombank in 2011.

Information: Now the Prague Club is comprised of 36 export credit agencies.

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ has been participating in sessions of the Prague Club of Export Credit and Investment Insurers since 2008. In the current year Vnesheconombank retains its observer status, from 2013 OJSC EXIAR is to participate in the Prague Club sessions as a full member.