Finnish export credit agency (ECA) Finnvera has confirmed a new country category for <
Despite the improved state of the economy, many challenges remain to be faced: enhancing the diversity of the economy; constructing a general institutional framework to meet the needs of the market economy; developing legislation and monitoring the enforcement of laws,eg, to improve the operating environment of businesses. In particular, for the economy to be efficient, the legislation associated with the banking sector and the control of banks need to be developed. A stable banking sector makes it possible to channel surpluses from financial operations into investments.
Finnvera’s goal is to promote Finnish exports and investments to Russia by granting export credit guarantees. Apart from guaranteeing the risk arising from the government’s payment policy, Finnvera may consider guaranteeing both bank and enterprise risks in projects to be carried out in Russia. Among other things, the country category affects the premiums to be collected for guarantees.