Increase the penetration rate of the Export Guarantee Fund to 10%
The CEO of the Export Guarantee Fund of Iran announced the increase of the fund's penetration rate to 10% and said: "Three years earlier than planned, we made the penetration rate of export services equal to the world standard."
According to the International Iranian Stone Exhibition, Afrooz Bahrami regarding the latest measures taken to support exports said: In the current situation of brutal and oppressive sanctions, 10% of the country's non-oil exports in the first 5 months of this year With the support of the Export Guarantee Fund.
He said: "Accordingly, the support fund of the guarantee fund for economic actors in the field of exports has doubled compared to the same period last year. Non-oil exports in the first 5 months were 10 billion and 875 million dollars, which is more than one $ 200 billion has been done through the Guarantee Fund.
The CEO of the Export Guarantee Fund, referring to the increase in the penetration rate of the Guarantee Fund, added: "In developed countries, the penetration rate of insurance companies is 10%, and in developing countries this figure is between 4 to 5%. We are also in Iran." We had planned to reach a 10% penetration rate in the final year of the Sixth Development Plan (1402), but fortunately today we were able to achieve this goal three years ahead of schedule.
Bahrami noted: "It is true that sanctions and the corona have had an effect on exports, but we were able to design better and new services not only to continue our activities as before, but also to take positive steps to improve."
Emphasizing the importance of strengthening the guarantee fund in terms of capital adequacy in the face of sanctions, he said: "Accordingly, with the follow-up, the guarantee fund's capital, with the approval of the Economic Coordination Council, increased by 200 million euros in May this year." Another € 100 million has been approved in the 1999 budget, which will be finalized and operational within the next three months.
The CEO of Iran Guarantee Fund said: "This increase in capital represents a fourfold increase in the fund's credit, and if we calculate based on the dollar exchange rate these days, the fund's capital has increased from $ 60 million to $ 400 million, which represents a 7-fold increase."
* Tasnim
