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On agreement between Vnesheconombank and Euler Hermes Kreditversicherungs-AG

8 december 2008 года
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Today, on December 8, 2008, state corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Euler Hermes Kreditversicherungs-AG (Germany) signed a Cooperation Agreement.

On behalf of Vnesheconombank, the Agreement was signed by Mr. V. Dmitriev, Chairman of Vnesheconombank. Euler Hermes Kreditversicherungs-AG was represented by Dr. Hans Janus, Member of the Board of Management, and Mr. Manfred Bruer, Managing Director of Euler Hermes ECA Consortium.

The Agreement expresses the parties’ intention to establish strategic partnership and promote long-term, effective and mutually beneficial cooperation in export credit insurance against commercial and political risks, as well as in investment insurance.

The Agreement is a framework document aimed at ensuring support and providing stimulus for trade and investment between Russia and Germany through joint export credit and investment co-insurance and reinsurance.

The parties intend to share their experience of export credit insurance against commercial and political risks and stimulate the mentioned activity. The parties would also seek to increase personnel professional skills, deliver joint projects and exchange information on export credit insurance.

Euler Hermes Kreditversicherungs-AG is a private insurance company authorized by the state to provide export credit insurance against territorial (political) and commercial risks and investment insurance. The Company was established in 1917 to extend export credit guarantees on behalf and by order of the German Government. Euler Hermes is a member of the International Union of Credit and Investment Insurers (the Berne Union) and an active participant in OECD Working Party on Export Credits and Credit Guarantees. Euler Hermes undertakes its activities in more than 50 coun tries accounting for 36% of the global export credit insurance market.

 

Origin: Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
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