OREANDA-NEWS. March 23, 2011. A meeting between Big Twenty countries’ heads of export-credit agencies and the World Bank management was held in Washington on 14-15 March, 2011. The meeting was organized by the Secretariat of the International Association of Credit and Investment Insurers (the Berne Union). Vnesheconombank Deputy Chairman Petr Fradkov participated in the meeting at the invitation of Berne Union President Angus Armour.

At present, Vnesheconombank participates in the Berne Union Prague Club’s meetings as an observer.

The meeting’s participants focused on discussing topical issues of financing and insuring international trade and investment transactions. Among the speakers were World Bank President Robert Zoellick., Head of the International Finance Corporation Lars Thunell, World Trade Organization Director General Pascal Lamy.

The meeting resulted in making arrangements to continue work and enhance cooperation in promoting initiatives aimed at expanding trade and investments on the emerging markets as well as in exploring opportunities for exchanging data on trade financing and relevant risks to consolidate a unique experience of the World Bank Group and the Berne Union participants.

The Berne Union is the International Association of Credit and Investment Insurers. It was founded in 1934. The Union’s activity is aimed at agreeing upon terms of financing international trade, guaranteeing export credits, sharing experience and information. The Berne Union incorporates more than 50 state-run and large private export credit agencies and export import banks.

The Prague Club has been operating since 1993 and incorporates newly established export credit agencies. At present, the Prague Club incorporates 34 agencies.