Financial Tribune - The Export Guarantee Fund of Iran, the main export credit agency, said it covered export risks worth $2.6 billion during the last fiscal year that ended on March 19.

This was a 20% growth compared with a year earlier, according to a report on the fund’s yearly performance, published on its website.

Short term insurance cover amounted to $1.2 billion, representing 46% of the total cover provided to non-oil exporters last year – up 42% annually.

Likewise, the short-term and mid-term covers reached $834 million to post a 16% rise on year-on-year basis.

The state-owned agency, affiliated to the Ministry of Industries, Mining and Trade, is in charge of supporting domestic non-oil exporters by providing export guarantees and insurance to cover risks.