The government provided a 100.2 billion tenge state guarantee to KazakhExport

The country's government provided JSC EIC "KazakhExport" with a state guarantee of KZT100.2 billion to support exports, World of NAN reports citing the press service of KazakhExport.

The state guarantee is needed to increase the insurance capacity of JSC EIC "KazakhExport" to support domestic exporters of the manufacturing sector and ensure the fulfillment of obligations of the Company on insurance payments within the concluded contracts.

"Maintaining the level of insurance portfolio within the limits of available capacity will maintain a high degree of reliability of the Company and, accordingly, the confidence shown to it by second-tier banks, international financial institutions and foreign export credit agencies. Domestic exporters of non-resource goods and services will be able to attract long-term financing of international financial institutions and major commercial banks under the insurance coverage of JSC EIC "KazakhExport", rely on trade financing of their foreign counterparts, reduce the financial risks of their export contracts", - says Ruslan Iskakov, Chairman of the Board of JSC EIC "KazakhExport".

According to the press service, since the beginning of this year the volume of insurance support Kazakh exporters of the manufacturing sector through the instruments of JSC "KazakhExport" amounted to more than 100 billion tenge.

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