The “Armenian insurance exporting agency” ICJSC was registered
On November 27, the “Armenian insurance exporting agency” ICJSC was registered and provided insurance operations license by the Central Bank of the RA.
The main function of the “Armenian insurance exporting agency” is insurance of financial loss of exporters of products and / or services, particularly in the case of a foreign buyer fails to comply the payment obligations for the product and / or service.
The “Armenian insurance exporting agency” was established by the RA Government decree as export promotion effective tool (within the framework of export-oriented industrial policy).
The main objectives of the Agency are.
♦ To promote the growth and expansion of export markets in the RA,
♦ To promote the diversification of export sector, creating available and affordable financial resources for SMEs with export potential,
♦ To promote the growth of production and export capacities, by creating technical modernization opportunities,
♦ To promote the development of private market associated with the insurance of commercial risks,
The Agency will provide full services after the preparatory phase of the export insurance activities.