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In 2021, REC provided support to 823 Moscow companies for $1.3 bln

11 october 2021
The group of the Russian Export Center (part of VEB.RF) continues to actively support exporting companies in the post-Covid period, and Moscow companies are no exception. This was announced at the Buy in Moscow International Export Forum on October 8 by Maxim Kobin, Vice President of REC JSC.

According to REC, in 2021, the Group provided support to 823 Moscow companies that are engaged in foreign economic activity. The total amount of support amounted to $ 1.3 billion. Of this $ 512 million was provided to exporters of the agro-industrial complex, which is 5.5% more than in the previous year. 52 Moscow exporters received agency support, 92 - financial and 705 - non-financial support.

“In crisis periods, development banks and export and insurance agencies are becoming one of the main absorbers of world trade risks. Russian Export Center has become a “one-stop-shop” for companies that apply for measures of state support for export supplies, including for the interaction with ministries and departments. We are actively going digital, moving online the services most demanded by exporters to render them in a one-stop-shop format on My Export platform,” Maxim Kobin said.

According to him, in the post-pandemic period, REC also pays much attention to export through marketplaces, which allow even small companies to enter foreign markets and present their products to consumers all over the world. REC helps companies choose the right platforms, present their products, and find potential buyers, he noted.

In 2020, the REC Group provided 10,480 Russian exporting companies with $ 19.3 billion support.

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Russian Export Center JSC (REC, part of VEB.RF) is a state institution for the support of non-resource export. It consolidates a group of companies that provide Russian exporters with a wide range of financial and non-financial support measures. The REC Group integrates the Russian Agency for Export Credit and Investment Insurance (EXIAR JSC), EXIMBANK OF RUSSIA JSC, and ANO Export School, which makes it possible to ensure the availability of the product portfolio that satisfies the needs of various exporters at different stages of the export cycle, from ideation to payment for exported goods and services.
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