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Subsidies for insurance offered to exporters to CIS

15. August 2007

Lithuanian companies exporting their products to CIS markets can get 50 pct subsidies for insurance premiums

Such a possibility is stipulated in an agreement signed by the Ministry of Economy and a branch of Austrian credit insurance company Coface Baltics.

“Lithuania-registered companies exporting goods or services to CIS markets and offering postponed payment terms for customers may apply for support. The subsidies are granted for insurance premiums for insurance against non-payment risks in case of bankruptcy or deliberate failure to pay,” says Aurelija Mazintiene, director of Coface Baltics (CB).

According to CB, one company’s turnover should not exceed LTL 20 m., and insurance agreements with companies will be concluded for a period of up to two years.

Source: "Verslo žinios", 13.07.2007