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Starting this year REC supported exports to Armenia for $72 mln

20 october 2021

According to Nikita Gusakov, General Director of EXIAR JSC, Senior Vice President of REC JSC, who spoke at the plenary session of the 8th Russian-Armenian Interregional Forum, exports to Armenia supported by Russian Export Center exceeded $ 84 million in 2021.

“In 2021, we have already supported exports to Armenia for $ 72.4 million. On the one hand, these are quite moderate indicators, but we see very good dynamics. We have already supported the project for the supply of cars for the South Caucasian railway. The Group also considers the possibility to support the delivery of domestic buses to Yerevan, as well as the construction of new metro stations,” Nikita Gusakov said.

REC Group (part of VEB.RF) provides financial support to Russian companies exporting to Armenia, in particular, those involved in large infrastructure projects. These projects includes, inter alia, the delivery of cars for the South Caucasian railway, which has been supported by REC.

Maxim Reshetnikov, Minister of Economic Development of the Russian Federation, and Gnel Sanosyan, Minister of Territorial Development and Infrastructure of Armenia, addressed the participants of the plenary session of the 8th Russian-Armenian Forum organized by the Ministry of Economic Development of the Russian Federation and the Ministry of Territorial Administration and Infrastructure of Armenia.

A business mission was also being held in Armenia as part of the Forum. The mission was organized by Russian Export Center jointly with the Ministry of Economy of the Republic of Armenia, the Investment Support Center of Armenia, and the Russian Trade Representation in Armenia. More than 250 meetings between Russian and Armenian companies were conducted within the framework of the business mission. In total, 24 Russian exporters and over 70 companies from Armenia took part in the mission.


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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