Eurasian Reinsurance Company to be created in EAEU
The Eurasian Economic Commission is forming a working group to develop an international agreement on establishment and operation of the Eurasian Reinsurance Company – as announced by the official representative of the Eurasian Economic Commission, Iya Malkina, following the EEC Council meeting
As Ms. Malkina informed, the agreement is scheduled to be signed in H1 2022. “Insurance support of exports has been analysed and the Intergovernmental Council has supported the project to establish the Eurasian Reinsurance Company – an institute of insurance support for mutual and foreign trade in the EAEU,” she said, adding that the Eurasian Development Bank's export financial support programme has been approved and put into effect. “It aims to provide financial support to business entities for production of goods and services and their further sale to other participating states or third countries,” the official explained.
The EDB programme is supposed to contribute to increasing the volume of export credits in order to maintain mutual trade. The programme will be operational until 2026, with the possibility of extension for the next five years.
