Export loan insurance agency supports $500 mln worth of export projects - PM
GORKI. March 11 (Interfax) - The Export Insurance Agency of Russia (EXIAR) has already supported 15 projects worth around $0.5 billion and will support another 40 projects worth $3 billion in the near future, Prime Minister Dmitry Medvedev said.
"Over the past few months the export agency has supported 15 projects with around $0.5 billion. There are another 40 projects in the pipeline costing a total of over $3 billion," Medvedev said at a meeting on support for hi-tech exports Monday.
He noted that in the development of hi-tech exports it is necessary to rely not just on government finances but that companies should be involved in innovative activities.
"They [export indicators] depend directly on the results of innovative activities and what our companies are involved in as well as what institutional reforms we carry out," he said.
It is necessary to continue the work to simplify administrative procedures and make them less expensive and to eliminate excess customs administration. It is also necessary to think about expanding risk guarantees.
"Where it is expedient and I stress where it is expedient, we should expand the list of guaranteed risks by including not just sovereign risks but also regional, municipal and corporate risks. Although this must be done very carefully," the PM said.
