The Armenian government made a decision on establishment of "Export Insurance Company" CJSC today.

Armenian Minister of Economy Vahram Avanesyan said that the government started working over the project back in  2011 and it's currently negotiating with the World Bank, Mediamax reports.

According to the Minister, the main goals of the organization will be as follows: insuring the exporter or the bank financing the exporter from lender/borrower/buyer non-payment risks, raising of new funds for  banks, decreasing interest rates for export funding and expanding coverage of export financing for banks.