Export Credit Agency

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Export Credit Agency

An agency established by a country to finance its nation's goods, investment, and services, often offers political risk insurance.

Export Credit Agency

A private or semi-governmental body that extends credit to local exporters. ECAs also provide guarantees and insurance for exports, and occasionally for imports as well. Sometimes governments use ECAs to subsidize exporters and related businesses, but this is generally frowned upon in international circles. ECAs are controversial; critics allege that their existence negatively impacts international development as developing countries cannot compete with such insured exports. Proponents of ECAs argue that they enable developing countries to import products they otherwise would not be able to afford.
References in periodicals archive ?
The project represents a strategic milestone for GE to develop electric substations in Iraq, and will also see the company support the MoE to secure funding through various financial institutions, including export credit agencies and commercial banks.
After weeks of blaming the United States exclusively for the slow pace of investment in Iran, the Islamic Republic has turned its anger on European governments, saying their export credit agencies are stymieing investment by charging higher fees only for investments in Iran.
Minister of Economic Development and Trade of Ukraine Aivaras Abromavicius opened the first large-scale international event for export credit agencies concerned in Ukraine.
It is worth mentioning that Prague Club which was established in 1993 aims at supporting new and developing export credit agencies.
Illingworth noted that Asian banks, especially the export credit agencies of China and South Korea, have been actively participating in shipping finance and stepping up to replace the retreating European banks.
Muscat: A Memorandum of Understanding (MoU) signed between Iranian and Kazakh export credit agencies is expected to enhance cooperation between the two countries, officials said.
While more than 60 other countries have export credit agencies (ECAs) that support domestic manufacturing for export, the US does not.
Among the factors driving GE Aviation to pursue the new operation in Europe is the need to support these and other international customers with financing through government-sponsored Export Credit Agencies (ECAs).
Global competition from other export credit agencies: All major exporting countries, including America's fiercest competitors in the global marketplace, have their own export credit agencies which support their respective countries' exports.
UK export Finance is one of the world's oldest and most respected export credit agencies, with industryqualified advisers and specialists available to assist new exporters - and more experienced ones.
UK Export Finance is one of the world's oldest and most respected export credit agencies, with industry-qualified advisers and specialists available to assist new exporters - and more experienced ones.
Export credit agencies aim to provide funding to companies outside their countries, on the proviso that the money is used to support home industries.

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