Partnership Agreement signed by SICIECI and COFACE

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11:32 29.06.2004
text: "Kazakhstan Today"
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The State Insurance Corporation on Insuring Export Credits and Investments JSC (SICIECI) signed a Partnership Agreement with COFACE, the biggest insurance company in the world. KZ-today correspondent has been informed by the press service of the SICIECI.

The Agreement has been signed within an annual conference of the Credit Alliance, uniting credit insurance and credit information companies from 90 countries.

Having regard to the information given by the press service, more than 44 million companies and enterprises from different countries, which are Credit Alliance members, will gain an access to the credit information database due to the document signing.

Alikhan Smailov, the chairman of the SICIECI and the representatives of the Embassy of RK in France participated in the conference.

Due to A. Smailov words, the participants of the international conference highly estimated an experience of the intensive development of insurance and export credits in Kazakhstan as well as dynamic work of the corporation.

Currently, 750 enterprises operating in the non-primary sector of Kazakhstan, 146 are interested in the SICIECI service. 24 export credit insurance applications have been put in totaling $22.7 million. The SICIECI decided to provide insurance for 20 projects totaling $20 million. The agreements on 14 export and investment contracts totaling $6.7 million are being implemented. The SICIECI refused to provide insurance for three projects totaling $1.5 million.

Translated by Nataliya Shirinskikh