MOSCOW: Russia’s Sodrugestvo Group has received around US$150mn from Gazprombank for agricultural equipment exports to Europe, with a buyer credit insurance from the country’s ECA, Exiar. The agency insured Gazprombank’s loan to the overseas buyer or buyers, details of which could not be disclosed.
Nikita Gusakov, managing director of business development and underwriting at Exiar, says: “This deal is one of the largest in Exiar’s agricultural portfolio. We will continue to develop our partnership with Russian exporters who produce agricultural equipment. Increasing the volume of non-commodity exporters will not only allows us to diversify exports, but also contribute to increasing the quality and competitiveness of Russian goods.”
Sodrugestvo’s financial director, Alexander Shenderyuk-Zhidkov, adds: “This deal represents the development of our longstanding and fruitful partnership with Exiar and Gazprombank. I am certain that the support provided to our clients through this deal will help Sodrugestvo strengthen its position in global markets and significantly increase Russian non-commodity exports.”
