BAKU, Azerbaijan, April 12
By Elnur Baghishov - Trend
The Iranian Export Guarantee Fund has a number of plans to reduce the impact of US sanctions against Iran and increase exports in the current year of Iran (starting from March 20, 2020), said Afruz Bahrami, director of the Export Guarantee Fund, Trend reports citing official website of Fund.
According to Bahrami, it is planned to support export risk by providing $2.3 billion in the current Iranian year.
Bahrami added that it is planned to provide a guarantee worth $700 million to increase exports by prioritizing the member countries of the Eurasian Economic Union.
The director said that it is planned to give guarantees for the security of export of products, support for the risks of export plans of technical and engineering services by prioritizing neighboring countries.
“Increasing financial resources and investment of the Iranian Export Guarantee Fund in order to simplify the import of raw materials and equipment for production facilities is one of the intended plans," he said.
Bahrami said providing the necessary guarantees for Iranian contractors to participate in tenders abroad as an alternative to the banking system, their financial security through the capital market is one of the intended plans.
The US imposed new sanctions on Iran in November 2018. Over the past period, the sanctions affected Iranian oil exports, more than 700 banks, companies and individuals.