Business And Markets
0

Iran's ECA Covers $1b Exports in 5 Months

Iran's ECA Covers $1b Exports in 5 Months Iran's ECA Covers $1b Exports in 5 Months

The Export Guarantee Fund of Iran covered non-oil exports worth $1 billion in the first five months of the current fiscal year (started in mid-March), head of EGFI said.
The figure shows 60% growth in the export credit agency insurance cover compared to the similar period last year, according to EGFI website.
EGFI expects to increase coverage to $2.5 billion by the end of this fiscal year [March 2020), Afrouz Bahrami told a seminar on promoting exports during sanctions. 
According to media reports, EGFI is able to cover export risk to the tune of $2.3 billion or 5% of the Iran’s $40 billion non-oil export market.  
She ascribed the significant growth in the performance of EGFI to increase in the number of applications for covering risk emanated from US sanctions, diversification of guarantee services, customizing services to make them compatible with expert requirements and rising promotional activity of the fund. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com