In the past four months $1 billion export coverage has been offered, which is 10 times more than the same period the year before, said the general manager of Export Guarantee Fund, Kamal Seyyed-Ali.
The Islamic Republic of Iran Broadcasting (IRIB) quoted Seyyed-Ali as saying, "The Export Guarantee Fund has given coverage to about 20 percent of non-oil exports during this period."
He predicted that the Fund will give $2 billion worth of coverage to 15 percent of non-oil exports in the year to March 20, 2010.
Export Guarantee Fund of Iran is a state-owned company under the supervision of the Ministry of Commerce, established for the purpose of developing and increasing the exports of the country by means of securing the credits and investments in relation to the export-bound goods and services; and for providing necessary facilities and supports for the exporters of goods and services for their claims against buyers abroad regarding the risk emanate from the hazards not usually insured by commercial insurance companies.