EGFI pays $113 million to compensate loss of exporters to Iraq

TEHRAN, May 15 (MNA) – The CEO of the Export Guarantee Fund of Iran (EGFI) announced that the fund has paid $113 million to compensate losses of the Iranian exporters who export goods to Iraq.

“From the total of $3.5 billion insurance coverage in EGFI, $630 million i.e. 40 percent is allocated to Iranians exporters who export their products to Iraq,” she said in a meeting at Iran-Iraq joint chamber of commerce on Wednesday.

According to Afrooz Bahrami, EGFI has $2.3 billion of financial resource to cover risks, five percent of which is granted to non-oil exports.

As she previously announced, her organization is aimed at issuing guarantees for oil purchaser of Iran Energy Exchange (IRENEX) and related negotiations with the Iranian oil ministry.

EGFI is in charge of covering trade and political risks of oil and non-oil exports, therefore, it provides services to domestic stocks market including IRENEX and Mercantile Exchange Market (IME), she announced earlier on May 1.

HJ/IRN 83315844

News Code 145323

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