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 Compagnie Francaise d'Assurance pour le Commerce Exterieur (Coface) was founded in 1946 as the French export credit agency.

French export credit agency Coface upgrades Macedonia's business environment rating

Airbus said: ``It is very important for Airbus to anchor a substantial part of the A319 fleet within Aeroflot, not only via operating leases but also for part of the order by way of long-term export credit agency financing.

From Airbus to Aeroflot with love...; Russian deal gets export credit backing

In Egypt, the People's Assembly recently approved the establishment of the Egyptian Export Credit Agency (ECA), which is capitalised at E 100 [pounds] m ($17m) to help promote exports.

Creditable efforts

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).

Canada,United States : GE Announces Plan to Build World Class Gas Engine Facility in Canada; Move Products from Wisconsin and Other Sites

WASHINGTON, June 28, 2013 /PRNewswire-USNewswire/ -- The Export-Import Bank of the United States has received the Best Global Export Credit Agency (ECA) Award for the second time and the Best ECA in the Americas Award for the fourth consecutive time Trade Finance Magazine announced on Thursday night.

Ex-Im Bank Named "Best Global Export Credit Agency" by Trade Finance Magazine

Summary: Masdar, Abu Dhabi's renewable-energy company, and the Export Import Bank of the United States (Ex-Im Bank) -- the official export credit agency of the United States -- signed a Memorandum of Understanding (MoU) on Wednesday in which they will explore opportunities to structure and deploy up to $2 billion worth of Ex-Im Bank's finance supporting US exports to Masdar's future projects.

Masdar and Ex-Im Bank ink agreement

This long term financing is insured by the Italian Government's Export Credit Agency (ECA) SACE.

HSBC finances new steel plant for SABIC

The 12-year loan is guaranteed by the Vietnamese Ministry of Finance and insured by the German Export Credit Agency Euler Hermes Kreditversicherungs AG and Japanese Export Credit Agency Nippon Export and Investment Insurance.

Vietnam : CitiBank grants biggest loan to power plant

export credit agency, is in its 71st year of helping finance the sale of U.

Ex-Im Bank, Iraqis Sign Trade Financing Agreement

ECGD, theUK's official export credit agency, is providing an export credit guarantee on a $24mbank loan to Aeroflot which it will use to finance the contract worth approximately $170m under the initial four aircraft deal.

AGENCY BACKING RUSSIAN DEAL

It has lost its enviable reputation as a world class export credit agency.

CBI seeks more help

WASHINGTON -- The Export-Import Bank of the United States (Ex-Im Bank) today became the first Export Credit Agency (ECA) to adopt a comprehensive Carbon Policy to guide its support of United States exports in light of climate change concerns.

Export-Import Bank Adopts Carbon Policy to Encourage Renewable Energy and Climate-Friendly Technologies