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 ?
Advising the French export credit agency on possible improvements to the compliance procedure established by the company under its new demandes.
The ratings on CEB are put on a par with those on the sovereign, based on S&P's assessment of an "almost certain" likelihood that the government will aid the export credit agency should it face financial troubles.
The export credit agency carries top-notch investment ratings and enjoys explicit state guarantees.
GE will build its new facility in Canada in order to access additional support from the country s export credit agency, Export Development Canada (EDC).
GE has reached an agreement with the UK export credit agency UK Export Finance (UKEF) to access export financing for up to $12 Billion.
As the UK s export credit agency, UKEF takes an active role in the development of international agreements on export credit policies and practices.
UK Export Finance (UKEF), the UK s export credit agency, has announced that it is making enhanced cover available to UK exporters competing for business in Rwanda.
It is backed by credit insurance provided by Finnvera plc, the export credit agency of Finland.

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