Database

EXIAR's role in the state export support system

EXIAR was established as a specialised state institution to support exports through the provision of a range of export credit and investment insurance products. It is Russia’s national export credit agency (ECA), and was built from the ground up as a result of a push by the Russian government in late 2009 to step up the development and implementation of its export support programme. This project formed one of several anti-crisis measures drawn up at the time to spur national economic development.

Since the agency’s inception, a range of systemic initiatives have been drafted and implemented to help boost export activity both at the national level, and in specific areas and industries (innovation, aviation, agriculture, exports by SMEs, etc.). These include a road map entitled ‘Supporting access to foreign markets and supporting exports’, which aims to solve specific problems related to bottlenecks in export procedures, and was first implemented following the issue of Russian Government Decree No. 1228-r dated 29 June 2012. In 2014, ownership of Eximbank of Russia – which specialises in financing export transactions – was transferred to the agency. This was in response to a presidential directive to streamline financial support for exports by consolidating existing credit and insurance services under the EXIAR umbrella. In 2015, the Russian government acknowledged the desirability for a one-stop shop to be established as part of Vnesheconombank, offering financial and non-financial support for exports. Consequently, in April of that year, the Russian Export Center was officially registered as company, and relevant legislative amendments were introduced by Federal Law 185-FZ dated 29 June 2015 (‘On amendments to Federal Law “On the bank for development” and part two of article 970 of the Civil Code of the Russian Federation’). On 10 December 2015, the Russian export center became the sole shareholder of JSC "EXIAR".

The agency plays an active role in helping to further develop the state’s export support system. It also regularly interacts with key ministries and agencies on related matters, including with the Russian government, the Ministry of Economic Development, the Ministry of Finance, and the Ministry of Industry and Trade. At the same time, it continues to accumulate expertise and international experience in the highly specialised field of financial services, while also acting to meet the needs of exporters. The agency’s success in this area is in large part due to its accrued experience in export transactions and its understanding of the specific requirements of growing exports in Russia.