Eximbank insures Romanian investment abroad

Romania’s Eximbank has launched insurance policies for the investments of the Romanian companies abroad. The bank used to sell insurance for export loans granted by Romanian banks and for the risk of defaulting on the export-related debts. “What the Romanian companies investing abroad lack is the direct support for not feeling at risk,” the bank’s president Mariana Diaconescu said. The Romanian investments abroad are still low, but the bank is willing to bet that will change. “We expect foreign investors to come to Romania, but there are areas abroad where the Romanian investors can go to make profits,” Mariana Diaconescu added. Most of the risks that can be insured in case of investments abroad are political, such as the risk of expropriation, war or riots, as well as the risk of the investment agreement not being observed or being terminated. The bank has 2,970bn ROL allocated by the state budget to back Romanian exports and investments abroad in 2004, the same as last year, compared to 1,680bn ROL in 2002. ZF