EGFI Risk Coverage Grows 102 Percent in Fiscal Q1

The performance of Export Guarantee Fund of Iran in covering export risks has grown 102% during the first quarter of the current fiscal year (started March 21), compared with the corresponding period of last year.
“This is in spite of the fact that the level of non-oil exports remained unchanged during this period,” Afrouz Bahrami, the head of EGFI, was quoted as saying by IBENA. 
Speaking at a conference on insuring and financing exports, Bahrami underlined the mission of EGFI in protecting export companies against risks, stressing that insurance coverage is the best substitute for letters of credit at a time when the economy is saddled with mounting economic and banking hurdles imposed by the United States.