OREANDA-NEWS. November 28, 2014. Russian Agricultural Bank (RusAg) and Export Insurance Agency of Russia (EXIAR) signed a Cooperation Agreement. The Agreement stipulates RusAg’s participation in support program for export-oriented small and medium-sized enterprises (SMEs) and other producers with an annual turnover of up to RUB 2 billion.

The program is aimed at creation of special terms of SMEs and small exporters financing with EXIAR support, which provides insurance coverage to the Bank against loan non-payment risks. Under the Agreement, RusAg received the opportunity to apply a simplified risk assessment by EXIAR within the financing limit for a single borrower, and to decrease requirements to collateral through provision of insurance coverage.

Lending will be provided for working capital financing to pay up to 80% of the export contract amount and for the term of up to 2 years. Under the Agreement, exports can comprise goods, works or services of non-energy sectors. At least 20% of exports should be of Russian origin.

The program implementation will provide additional incentive to domestic producers’ export activity and will contribute to SMEs dynamic growth.