Export Credit Agency

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Related to export credit: Export Credit Guarantee Department

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 ?
Department of Financial Services has informed that RBI is currently examining the priority sector lending norms for export credit and certain enabling guidelines are under consideration.
Shrinking share of export credit is a cause of concern for micro, small and medium enterprises, which suffer badly when lending institutions demand collaterals while extending credit, said Goyal.
'The signing of the MoU aims to enhance cooperation in promoting export trade and investment in Botswana through the advancement of export credit and investment insurance instruments as offered by BECI to Botswana exporters,' he said.
The meeting highlighted the strategic partnerships that ECI has formed with key partners from government, Shariah-compliant and conventional trade credit insurance, Export Credit Agencies (ECAs), banking, professional and advisory services, technology as well as financial information services.
Kaissi added that the signing of this MoU comes within the framework of ICIEC's mandate to support the development of its member countries by providing export credit and political risk insurance for trade and investment projects.
Muscat : The board of directors of Export Credit Guarantee Agency of Oman, Credit Oman, recently held its first meeting of 2018, wherein a number of topics related to credit insurance, export promotion, and manufacturers were discussed.
In a statement, the smelter said the facilities are made up of $310.4m Switzerland's SERV Guaranteed Export Credit with an interest margin of 90 basis point per annum over the London Interbank Offered Rate (Libor), 314.3m euro SERV Guaranteed Export Credit with an interest margin of 65 basis point per annum over the Euro Interbank Offered Rate (Euribor) - the SERV-covered facilities have 15-year tenor wherein the principal amount is to be repaid over a 12-year period, and 50m euro Euler Hermes Guaranteed Export Credit with an interest margin of 55 basis point per annum over Euribor - the Euler Hermes-covered facility has 14-year tenor wherein the principal amount is to be repaid over a 12-year period.
The commerce department is expected to push for higher interest subsidy and a wider export credit insurance as it seeks to make life easier for small exporters.
Karbasian told Shana that impediments to activity of the French export credit insurance of Coface and the Italian Export Credit Agency SACE in Iran have been removed.
GE said it will build its facility in Canada in order to access additional support from the country's export credit agency, Export Development Canada (EDC).
Applying various trade models, I consistently find a positive and statistically significant effect of private export credit insurance on exports.
As the UK's export credit agency and a government department, we help UK exporters by providing insurance to exporters and guarantees to banks to share the risks of providing export finance.

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