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 GCC move towards an export credit agency is attracting much interest.

Creditable efforts

Sotkamo Silver AB (HEL: SOSI1) announced on Thursday the grant by the Swedish export credit agency of a guarantee offer of maximum EUR33,4m.

Sotkamo Silver granted guarantee offer of EUR33.4m by Swedish Export Credit Agency

EGFI, established in 1973, as the first-established Export Credit Agency (ECA) in Middle East and North Africa (MENA) region, is the official Export Credit Agency of Iran, 100% government-owned and affiliated to the Ministry of Industry, Mine, and Trade.

Parliament Approves $200mln Capital Increase for Export Guarantee Fund of Iran

Dewa's head said in October that the emirate's sole utility would look to raise around Dh4.5 billion ($1.23 billion) of debt in 2013 through sukuk, export credit agency finance and securitisation deals.

Dewa says no sukuk issues before 2015

It comprises a commercial bank facility of $3.34 billion, a $850-million Islamic facility and $2.55 billion of export credit agency ("ECA") financing.

QP completes funding for the Barzan Gas Project

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 Development Canada, Canada's export credit agency, has hired banks for a five-year, dollar-denominated, global bond, Dow Jones has reported citing one of the banks managing the deal.

Export Development Canada hires banks for five year dollar bond

(Paris:SESG) (LuxX:SESG) has secured a EUR522,889,400 export credit funding facility guaranteed by Coface, France's export credit agency.

SES obtains EUR523m export credit funding facility

Under the notified scheme, the Danish state export credit agency Eksport Kredit Fonden (EKF) would provide export credit reinsurance to complement insurance cover available on the private market.

DANISH REINSURANCE SCHEME APPROVED

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

As Australia's export credit agency, EFIC increases Australian exports and investments by providing internationally competitive finance and insurance services to Australian exporters and investors.