07.06.2016 16:53
YEREVAN, June 7. /ARKA/. A memorandum of cooperation ACBA-CREDIT AGRICOLE BANK has signed with Armenia’s Export Insurance Agency (EIA), will enable the Bank to finance exporting companies by means of insurance certificates issued by the Agency, but on condition that deferred payments are used to export goods, the bank said in a press release.
ACBA-CREDIT AGRICOLE BANK CEO Hakob Andreasyan noted that export insurance allows the Bank to finance the cash assets (export factoring) of exporter companies by simplified procedures. According to him, this product will minimize the risks both for the bank and exporters.
The Executive Director of Export Insurance Agency Vazgen Abgaryan, in turn, said that the Agency's mission is to promote exports from Armenia. The most important component of its insurance instruments is to secure the availability of collateral-free and reliable financial resources for exporters.
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