OREANDA-NEWS. December 1, 2008. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Export Guarantee and Insurance Corporation/ EGAP (Czechia) signed an Agreement on Cooperation.

The Agreement was signed by Management Board Member – Vnesheconombank Deputy Chairman Petr Fradkov and EGAP Board Director, Managing Director Pavol Parizek.

The Agreement aims to establish strategic partnership and promote long-term effective and mutually beneficial cooperation in insuring export credits against commercial and political risks as well as in insuring investments.

The Document is a framework agreement and would help to support and boost trade and investments between Russia and Czechia by way of joint insurance and reinsurance of export credits and investments.

The two sides intend to share business experience in insuring export credits against commercial and political risks, help promote the said activity and personnel development, as well as implement joint projects and exchange information on export credits insurance.