Iran signs co-op deal with Brazilian export insurer
Baku, Azerbaijan, Nov. 21
By Fatih Karimov – Trend:
The Export Guarantee Fund of Iran (EGFI) has signed a cooperation document with Brazilian Guarantees and Fund Managements Agency (ABGF), the Iranian economy ministry reported Nov. 21.
ABGF provides services for export credit insurance activities backed by the Export Guarantee Fund (FGE), an official instrument available for export credit guarantees.
Marcelo Pinheiro Franco, chief executive officer of ABGF, and Mehrdad Parsamanesh, information & planning director of the EGFI, signed a memorandum of understanding in Brasilia for cooperation in reinsurance and joint insurance as well as exchange of economic, banking and insurance information.
The EGFI has signed similar documents with Germany’s Hermes, which offers export credit guarantee (ECG), and Swiss Export Risk Insurance (SERV) as well as the Hungarian Export Credit Insurance Plc (MEHIB) and Sri Lanka Export Credit Insurance Corporation (Slecic) last month.
In the post-sanctions period, EGFI’s exports and investment credits coverage enjoyed a 42-percent growth. It stood at $265 million during the first four months of the current Iranian fiscal year (started March 20).