This decision was made by the bank's board the day before. Among the measures to simplify are the introduction of a special guarantee, which will reduce the time of VAT refund, and Export Standard - a loan designed for exporters in 2019.

According to Roman Smagin, Chairman of the Management Board of Eximbank of Russia, the bank is going towards business, realizing how much the market situation has changed due to the introduction of current restrictions caused by COVID-19 outbreak. Therefore, the bank's products will become more accessible, first of all, to micro and small exporters.

The simplification procedure will apply to pre-export financing of SME exporters. Thus, a number of restrictions on the legislation applied in export contracts will be removed, and requirements for export experience will be simplified. The new conditions for exporters of high-tech products will be of particular interest.

The requirements will be further simplified in terms of assistance in refunding VAT on export operations: the bank eliminates the need for notarization of documents.

Manufactured in Russia // Made in Russia

Author: Daria Vankova