G/AG/W/125/Rev.18/Add.2  
24 May 2023 
(23-3573) Page: 1/95 
Committee on Agriculture    
 
 
EXPORT SUBSIDIES, EXPORT CREDITS, EXPORT CREDIT GUARANTEES  
OR INSURANCE PROGRAMMES, INTERNATIONAL FOOD AID  AND 
AGRICULTURAL EXPORTING STATE TRADING ENTERPRISES  
BACKGROUND DOCUMENT BY THE SECRETARIAT1 
Export Credits, Export Credit Guarantees or Insurance Programmes  
Addendum  
This addendum refers to and must be read in conjunction with document G/AG/W/125 /Rev. 18. 
It provides information on the use of export credits, export credit guarantees and insurance 
programmes (hereinafter referr ed to as "export financing support") provided by Members for the 
export of agricultural products , as described in P art B of document G/AG/W/125 /Rev. 18. 
 
_______________  
 
 
1 This document has been prepared under the Secretariat's own responsibility and is without prejudice 
to the positions of Members or to their rights and obligations under the WTO. It has been prepared for 
information only and is not intended to provide any authoritative or official legal interpretation of the provisions 
of the WTO Agreements in general or in relation to any specific entity or measure listed in this document.  G/AG/W/125/Rev.18/Add.2  
 
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  TABLE OF CONTENTS  
Argentina  ................................ ................................ ................................ ........................  4 
Australia  ................................ ................................ ................................ ..........................  7 
Brazil  ................................ ................................ ................................ ..............................  9 
Canada  ................................ ................................ ................................ ..........................  11 
China  ................................ ................................ ................................ .............................  13 
Dominican Republic  ................................ ................................ ................................ ..........  15 
El Salvador  ................................ ................................ ................................ .....................  18 
European Union  ................................ ................................ ................................ ...............  19 
Hong Kong, China  ................................ ................................ ................................ ............  55 
India ................................ ................................ ................................ ..............................  56 
Indonesia  ................................ ................................ ................................ .......................  58 
Jamaica  ................................ ................................ ................................ ..........................  61 
Japan  ................................ ................................ ................................ .............................  62 
Kazakhstan  ................................ ................................ ................................ .....................  67 
Korea, Republic of  ................................ ................................ ................................ ............  69 
Malaysia  ................................ ................................ ................................ .........................  70 
New Zealand  ................................ ................................ ................................ ...................  72 
Paraguay  ................................ ................................ ................................ ........................  74 
Russian Federation  ................................ ................................ ................................ ...........  81 
Switzerland  ................................ ................................ ................................ .....................  82 
Thailand  ................................ ................................ ................................ .........................  83 
Trinidad and Tobago  ................................ ................................ ................................ .........  86 
Türkiye  ................................ ................................ ................................ ...........................  89 
United Kingdom  ................................ ................................ ................................ ...............  91 
United States of America  ................................ ................................ ................................ ... 92 
Viet Nam ................................ ................................ ................................ ........................  94 
 G/AG/W/125/Rev.18/Add.2  
 
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  TABLE ON SOURCE OF DATA  
Member  Source of data  
Argentina  • Reply to Questionnaire circulated on 3 December  2021  
Australia  • Reply to Questionnaire circulated on 17 January 2023  
Brazil  • Reply to Questionnaire circulated on 17 January 2023   
Canada  • Reply to Questionnaire circulate d on 17 January 2023  
China  • Reply to Questionnair e circulated  on 17 January 2023  
El Salvador  • Reply to Questionnaire circulated on 3 December  2021 
European Union  • Reply to Questionnaire circulated on 17 January 2023  
Hong Kong , China  • Reply  to Questionnaire circulated on 17 January 2023  
India • Reply  to Questionnaire circulated on 14 January 2021  
Indonesia  • Reply to Questionnaire circulated on 25 October 2018  
Jamaica  • Reply to Questionnaire circulated on 20 January 2016  
Japan  • Reply to Questionnaire circulated on 17 January 2023  
Kazakhstan  • Reply to Questionnaire circulated on 14 January 2021  
Korea , Republic of  • Reply to Questionnaire circulated on 17 January 2023  
Malaysia  • Reply to Questionnaire circulated on 17 January 2020   
New Zealand  • Reply to Questionnaire circulated on 17 January 2023  
Paraguay  • Reply to Questionnaire circulated on 14 January 2021  
Russian Federation  • Reply to Questionnaire circulated on 17 January 2023  
Switzerland  • Reply to Questionnaire circulated on 17 January 2023  
Thailand  • Reply to Questionnaire circulated on 17 January 2023  
Trinidad and Tobago  • Reply to Questionnaire circulated on 31 October 2016  
Türkiye  • Reply to Questionnaire circulated on 17 January 2023  
United Kingdom  • Reply to Questionnaire circulated on 17 January 2023  
United States of America  • Reply to Questionnaire circulated on 17 January 2023  
Viet Nam  • Reply to Questionnaire circulated on 20 Janua ry 2016  
 
  G/AG/W/125/Rev.18/Add.2  
 
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  Argentina  
A. Bank of the Argentine Nation  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
The Bank of the Argentine Nation does not participate in any form of governmental export credit 
support programmes.  
2. Description of Export Financing Entity  
The Bank of the Argentine Nation does  not participate in export credit support programmes.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Not applicable, as the Bank of the Argentine Nation do es not participate in any form of governmental 
export credit support programmes.  
4. Annual average premium rates/fees per programme  
Not applicable, as the Bank of the Argentine Nation does not participate in any form of governmental 
export credit support p rogrammes.  
5. Maximum repayment terms per programme  
Not applicable, as the Bank of the Argentine Nation does not participate in any form of governmental 
export credit support programmes.  
6. Annual average repayment periods per programme  
Not applicable , as the Bank of the Argentine Nation does not participate in any form of governmental 
export credit support programmes.  
7. Export destination or group of destinations per programme  
Not applicable , as the Bank of the Argentine Nation does not participate in any  form of governmental 
export credit support programmes.  
8. Programme use by product or product group  
Not applicable, as the Bank of the Argentine Nation does not participate in any form of governmental 
export credit support programmes.  
B. Investment and Fo reign Trade Bank (BICE)  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
With regard to export support programmes, Argentina has a direct financing support programme 
through the Investment and Foreign Trade Bank.  
Moreover, through the Bank of the Argentine Nation, export financing is provided in the form of 
pre‑export and post -export financing by means of trade credit lines, which are adjusted to the 
conditions of free competition and regulation of the local financial system, and do not constitute 
export support programmes per se.  G/AG/W/125/Rev.18/Add.2  
 
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  2. Description of Export Financi ng Entity  
Investment and Foreign Trade Bank  S.A. 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
USD 40,041,518.60  
4. Annual average premium rates/fees per programme  
4.75%. 
5. Maximum repayment terms per programme  
360 days.  
6. Annual average repayment periods per programme  
180 days.  
7. Export destination or group of destinations per programme  
COUNTRY  PERCENTAGE  
Algeria  1.24 
Belgium  0.62 
Bolivia, Plurinational State of  0.62 
Brazil  27.33  
Canada  2.48 
Chile 3.73 
China  6.21 
Colombia  1.24 
Czech Republic  0.62 
Germany  3.73 
Greece  0.62 
Hong Kong, China  0.62 
Indonesia  0.62 
Italy 3.73 
Mexico  1.86 
Nepal  0.62 
Netherlands  6.83 
Paraguay  1.24 
Philippines  0.62 
Poland  0.62 
Portugal  2.48 
Russian Federation  4.35 
Spain  1.24 
Türkiye  1.86 
United Arab Emirates  0.62 
United Kingdom  3.11 
United States  of America  18.63  
Uruguay  1.86 
Viet Nam  0.62  
100 
 
 G/AG/W/125/Rev.18/Add.2  
 
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  8. Programme use by product or product group  
PRODUCT (CHAPTER TARIFF NOMENCLATURE)  PERCENTAGE  
2 - Meat and edible meat offal  3.73 
4 - Dairy produce; birds eggs; natural honey; edible products  4.35 
5 - Products of animal origin, not elsewhere specified or included  1.24 
7 - Edible vegetables and certain roots and tubers  11.80  
8 - Edible fruit and nuts; peel of citrus fruit or melons  26.09  
9 - Coffee, tea, mate and spices  5.59 
10 - Cereals  6.83 
11 - Products of the miling  industry; malt; starches; inulin; wheat gluten  2.48 
12 - Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruit; industrial or 
medicinal plants; straw and fodder  11.18  
15 - Animal or vegetable fats and oils and their cleavage products; p repared edible fats  0.62 
16 - Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates  1.24 
17 - Sugars and sugar confectionery  1.24 
19 - Preparations of cereals, flour, starch or milk; pastrycooks products  0.00 
20 - Preparations of vegetables, fruit, nuts or other parts of plants  4.97 
21 - Miscellaneous edible preparations  1.24 
22 - Beverages, spirits and vinegar  11.18  
23 - Residues and waste from the food industries; prepared animal fodder  1.86 
24 - Tobacco and manufactured tobacco substitutes  1.24 
33 - Essential oils and resinoids; Perfumery, cosmetic or toilet preparations  0.00 
38 - Miscellaneous chemical products  1.24 
41 - Raw hides and skins (other than furskins) and leather  0.00 
51 - Wool, fine or coarse animal hair; horsehair yarn and woven fabric  1.86 
52 - Cotton  0.00  
100 
 
 
  
  G/AG/W/125/Rev.18/Add.2  
 
- 7 - Australia  
Export Finance Australia (EFA) is the only government entity that provides export financing in Australia. EFA is a self -funded organisation that operates in 
accordance with commercial principles.  EFA was established under the Export Finance and Insurance Corporation Act 1991 (AFIC Act) as a statutory corporation 
wholly owned by the Commonwealth of Australia.  EFA has no agriculture specific export financing programmes.   
See Tables 1, 2 and 3 below for detailed information on EFA 's programmes within the scope of the Nairobi Decision. For further information, EFA 's website is 
https://www.exportfinance.gov.au/  
Table 1: Export Finance Australia programmes  2022  
Programme  
Title Category 
of 
Support  Description of Programme  Annual average 
premium rates/fees 
per programme  Maximum  repayment 
terms  per programme  Annual  average 
repayment 
periods per 
programme  Export  destination 
or group of 
destinations per 
programme  
(2020) Program me 
use by 
product or 
product group  
(2020) 
Risk 
Participation 
Agreements  
(RPA)  Risk cover  Risk-sharing arrangement with the Asian 
Development Bank (ADB) under ADB's 
Trade Facilitation Program  (TFP) where 
Export Finance Australia  will share in the 
risk that ADB takes when it provides 
guarantees against non -payment under 
financial instruments issued for payme nt 
of Australian exports to specific markets 
in Asia.  Around 3% p.a.  
Risk fees are quoted by the 
lead bank on a case -by-
case basis, factoring in risk 
variables such as assessed 
riskiness of counterparty 
and tenor of exposure, 
amongst others.  240 days  N/A Nil in 2022  Nil in 2022  
Documentary 
Credit Guarantee  
(DCG)  Risk cover  Export Finance Australia  guarantees 
payments to the confirming bank of the 
principal and interest obligations of the 
bank issuing an irrevocable documentary 
credit in connection with trade facilities 
extended to an Australian exporter. The 
guarantee may be up to 100% of the 
amoun t of the underlying documentary 
credit (DC), which is generally limited to 
85% of the export contract value and will 
apply for the duration of the DC.  Risk fee calculation is 
based on the assessed 
creditworthiness of the 
issuing bank, the tenor and 
frequen cy of repayments.  Under 180 days  N/A Nil in 20 22 Nil in 20 22 
Export Finance Australia's 'Export Contract Loan', 'Export Line of Credit', 'Small Business Export Loan' and 'Export Capital Working Guarantee' programmes (which had been reported 
in Australia's Export Competition Questionnaire responses in 2017 and prior) have been excluded from Australia's response. Those  programmes provide only working capital financing 
support for suppliers (exporters), and are not export credit programmes pursuant  to footnote 7 of the Nairobi Ministerial Decision.  Australia 's previous reporting on Bonds has also 
been removed noting that these programs do not fall within the scope of required reporting under the Nairobi Ministerial Deci sion.  
  G/AG/W/125/Rev.18/Add.2  
 
- 8 - Table 2: Total value of export of agricultural products covered by export credits, export credit guarantees or insurance programmes  
and use per programme, 2009 -2022 (AUD million)  
Export Finance Australia Program Programme  2009  2010  2011  2012  2013  2014  2015  2016  2017  2018  2019  2020 2021  2022  
Risk Participation Agreements  Nil Nil 0.72 4.71 5.38 7.72 11.24  3.83 Nil 1.7 0.8 2.2 8.84 Nil 
Export Finance Guarantee  Nil Nil 54 56.2 16.14  21.44  Nil 99.17  Nil Nil Nil Nil Nil Nil 
Documentary Credit Guarantee   Nil 22.4  Nil Nil  Nil Nil  Nil 0.17 Nil Nil Nil Nil Nil Nil 
Foreign Exchange Facility Guarantee   Nil 44.3 131.4  13.8 1.15 1.43 1.33 n/a n/a n/a n/a n/a n/a Nil 
TOTAL  0 66.7 210.32  91.97  22.67  30.59  12.57  103.17  0 1.7 0.8 2.2 21.7 0 
Table 3: Export values by programme and destination for 20 22 (AUD million)   
No export support provided in this reporting year.  
 
 G/AG/W/125/Rev.18/Add.2  
 
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  Brazil 
Measure 1  
 
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
Brazilian Export Financing Program (PROEX)  
PROEX Direct Financing: the Government provides direct financing for exporters (supplier's credit) 
and buyers (buyer's credit) of Brazilian services and goods. PROEX covers several sectors, including 
machinery and equipment; repayment period is up to ten y ears. The program applies international 
markets interest rates with respect to the funding currency and its maturity.  
PROEX Interest Rate Support: The interest rate support aims to reduce the interest rate export 
finance charged by financial institutions t o support Brazilian export of goods and services. Export 
credit is granted by financial institutions, and the government (PROEX) assumes part of the financial 
burden, allowing interest rates to be compatible with those practiced in the international market . 
Proex Interest Rate support was not used to support Brazilian exports of agricultural goods in 2022. 
PROEX is regulated by Federal Law 10.184, 12th February 2001, and by the Federal Decree 7.710, 
3rd April 2012. Since April 2021, PROEX is regulated by th e Resolution of the Executive Committee 
of Camex number 166, 23rd March  2021, and the Resolution of the CMN number  4.897, 
29th March  2021.  
2. Description of Export Financing Entity  
The Brazilian Export Financing Program (PROEX) relies on National Treasury  resources and has 
specific allocation in the federal budget, in order to provide official support to Brazilian export in two 
modalities: direct financing and interest support. The operational procedures are undertaken 
exclusively by Banco do Brasil S.A.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Over 2022, PROEX Direct Financing supported USD 1,576,503  worth of Brazilian exports of 
agricultural goods.  In the same year, PROEX  Interest Rate Support was not used for agricultural 
products.  
4. Annual average premium rates/fees per programme  
The PROEX Direct Financing applies international markets interest rates with respect to the funding 
currency and its ma turity.  It does not charge any fees from the Brazilian exporters.  
5. Maximum repayment terms per programme  
According to the current regulation s, the maximum  repayment term for agricultural products in the 
PROEX Direct Financing is 12 months.  
6. Annual aver age repayment periods per programme  
In 2022, the average repayment term for agricultural products in the PROEX Direct Financing, was 
at six months .  
7. Export destination or group of destinations per programme  
Destination country  Export Value (USD)  
Mexico  1,143,030  
Panama  433,472  
Total  1,576,503  G/AG/W/125/Rev.18/Add.2  
 
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  8. Programme use by product or product group  
Product group  Export value (USD)  
Seeds, Oilseeds and Medicinal Plants  1,576,503  
2022 Total  1,576,503  
 
 
Measure 2  
 
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
Export Credit Insurance (SCE)  
The SCE provides coverage against commercial, political, and force majeure risk in export credits 
operations. It did not issue any guarantee or insurance for agricultural products in 2022.  
2. Description of Export Financing Entity  
The SCE is managed by the Executi ve Secretariat of the Foreign Trade Chamber (Camex), with the 
operational support of ABGF (a state -owned company).  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per pro gramme  
In 2022, the SCE was not used for agricultural products.  
 G/AG/W/125/Rev.18/Add.2  
 
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  Canada  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
Credit Insurance  – provides Canadian exporters coverage of 90% of insured losses against a variety 
of risks when selling pro ducts to international buyer(s).  
https://www.edc.ca/en/solutions/insurance/credit -insurance.html  
Buyer Financing  – helps Canadian exporters by providing their buyers with flexi ble payment options 
through the extension of a loan, thereby taking on the non -payment risk. EDC has a guarantee 
solution for transactions under CAD  10 million.   
https://www.edc .ca/en/solutions/financing/buyer -financing.html  
2. Description of Export Financing Entity  
The EDC is Canada's official Export Credit agency. Canada's Export Development Act establishes 
EDC's mandate: To support and develop Canada's export trade and Canadia n capacity to engage in 
that trade and to respond to international business opportunities.   
 
EDC provides financing and insurance solutions to help Canadian companies of any size respond to 
international business opportunities.  
 
Details on all products EDC offers are available on our website:  
https://www.edc.ca/EN/Our -Solutions/Pages/default.aspx  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Credit Insurance:  CAD million  
2019: 6,342  
2020: 7,165  
2021: 6,911  
2022: 7,662  
Buyer Financing:* 
 
2019: nil  
2020: nil  
2021: nil  
2022*: Nil   
 
* Revised reporting systems a nd methodology based on NAICS Codes resulting in enhanced data 
granularity.  
4. Annual average premium rates/fees per programme  
For agricultural products  
Credit Insurance:  
2018: 0.25%  
2019: 0.24%  
2020: 0.24%  
2021: 0.17%  
2022: 0.17%  G/AG/W/125/Rev.18/Add.2  
 
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  5. Maximum repayment terms per programme  
Credit Insurance: the maximum repayment term for the programme is up to two years; for 
agricultural products the maximum repayment term is typically 180 days  but never exceeding 
18 months.  
Buyer financing: repayment terms are decided case by case and depend on the underlying export 
contract and  would not be used for the sale of agricultural products.  
6. Annual average repayment periods per programme  
For agricultural products  
Credit Insurance:  
2019: 77 days  
2020: 81 days  
2021: 8 3 days  
2022: 82 days  
 
Buyer financing:  nil for agricultural products  
7. Export destination or group of destinations per programme  
For agricultural products  
Credit Insurance:  
CAD Million  
Region  2018  2019  2020  2021  2022  
Africa, Europe & Middle -East  1,201  1,469  1,585  1,906  1,870  
Asia 1,803  1,806  2,399  1,245  1,388  
Mexico, Central America & Caribbean  559 556 573 269 308 
North America  1,823  2,106  2,146  3,324  3,492  
South America  355 404 463 168 182 
8. Programme use by product or product group  
For agricultural products  
Credit Insurance   
CAD Million  
NAICS Code  Product  2021  2022  
111 Crop production  335 198 
112 Animal production and aquaculture  4 11 
114 Fishing, hunting and trapping  5 15 
115 Support activities for agriculture and forestry  1,290  1,067  
311 Food manufacturing  3,868  4,300  
312 Beverage and tobacco product manufacturing  42 29 
313 Textile mills  5 10 
314 Textile product mills  118 106 
325 Chemical manufacturing  396 401 
339 Miscellaneous manufacturing  405 515 
413 Food, beverage and tobacco merchant wholesalers  21 51 
418 Miscellaneous merchant wholesalers  423 533 
 
 
 
 
 G/AG/W/125/Rev.18/Add.2  
 
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  China  
Consistent with the Bali Ministerial Declaration on Export Competition, Members shall continue to 
provide information on Export Credit, Export Credit Guarantees or Insurance Programmes within the 
context of an annual examination process, based on the following structure:  
 
1.  Description of the programme (classification within the following categories: direct  
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
China Agricultural Development Bank did not provide export financing programme covering the 
export of ag ricultural products in 2021 and 2022.  
 
The Export -Import Bank does not have loans or trade financing products specifically for agricultural 
exports. Export seller's credit, export buyer's credit, export order financing, and export commercial 
invoice discou nting can be granted to the export of agricultural products that meet the requirements 
of the Export -Import Bank for credit products.  
 
China Export & Credit Insurance Corporation provides export credit insurance support, based on 
normal commercial conditio ns, for agricultural products and charges premium accordingly.  
 
2.  Description of Export Financing Entity  
Agricultural Development Bank of China (ADBC) is a state -owned agricultural policy bank, mainly to 
undertake agricultural policy financial business, promoting agricultural and rural development.  
The Export -Import Bank of China (CEXIM) is a state -owned pol icy bank with independent legal 
person status. It actively plays an important role in stabilizing growth, structural adjustment, and 
the development of foreign trade, to promote the sustained and healthy development of the economy 
and society.  
China Export  & Credit Insurance Corporation (SINOSURE) is a state -owned policy insurance company 
with independent legal person status. It promotes economic growth and balance of payments by 
providing insurance and other services for foreign trade.  
3.  Total value of expor t of agricultural products covered by export credits, export credit 
guarantees or insurance programme s and use per program me 
SINOSURE mainly provides support for agricultural export through short -term credit insurance 
programme. The amounts of agricultural exports insured under short -term export credit insurance 
programme were USD  11.65 billion in 2021 and USD  13.143 billion in 2022.  
4.  Annual average premium rates/fees per program me 
The premiums of short -term export credit insurance programme for agricultural products granted 
by SINOSURE were USD  38.864 million with an average premium rate of 0.34% in 2021 and 
USD 38.6296 million with an average premium rate of 0.3% in 2022.  
5.  Maximum repayment terms per program me 
The maximum repayment period of shor t-term export credit insurance programme for agricultural 
products granted by SINOSURE were 360 days in 2021 and 2022.  
6.  Annual average repayment periods per program me 
Both of the average repayment periods of short -term export credit insurance programme for 
agricultural products granted by SINOSURE were 69 days in 2021 and 2022.  G/AG/W/125/Rev.18/Add.2  
 
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  7.  Export destination or group of destinations per program me 
In 2021, the main export destinations of short -term export credit insurance programme for 
agricultural products granted by SI NOSURE were the United States;  Japan ; Indonesia ; Hong Kong , 
China;  China ; and Spain.  
In 2022, the main export destinations of short -term export credit insurance programme for 
agricultural products granted by SINOSURE were the United States;  Indonesia ; Japan; Hong Kong , 
China;  China ; and Netherlands.  
8.  Program me use by product or product group  
SINOSURE does not disaggregate the agricultural products for its short -term export credit insurance 
programme.  
 G/AG/W/125/Rev.18/Add.2  
 
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  Dominican Republic  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
a) Export credit: Made available for any enterprise or natural person engaged in export business 
activity or belonging to the export chain that requ ires financing for its activities, the aim being 
to mobilize resources that contribute to the production of domestic goods and services forming 
part of the exportable supply.  
 
b) Credit for female exporters (Créditos Mujer Exportadora): Credit specifically de signed for 
financing women -led businesses engaged in export operations or belonging to the export chain, 
the aim being to mobilize resources that contribute to the production of domestic goods and 
services forming part of the exportable supply and to promo te the inclusion of women in the 
export sector value chain.  
 
Export credit is aimed at goods (agricultural and industrial) and services, and is ideal for:  
• infrastructure expansion ; 
• purchasing of raw material ; 
• purchasing of machinery ; 
• specialized services ; 
• transport . 
 
Characteristics and benefits of export -related products:  
• competitive fees and commission ; 
• conditions adapted to business structure ; 
• cash flow -appropriate terms ; 
• Grace periods based on use of Funds ; 
• specialized service . 
2. Description of Export Financing Entity  
The Banco de Desarrollo y Exportaciones (BANDEX) is the result of a transformation of the Banco 
Nacional de Fomento a la Vivienda y la Producción (BNV); on 17 July 2015, Law No. 126 -15 was 
enacted, transforming the BNV into the Banco Nacional de las Exportaciones (BANDEX).  
As part of the Dominican Republic's post -COVID -19 economic recovery policy, the Executive decided 
to transform BANDEX into the Export and Development Bank through the enactment of Law 
No. 122-21 of 28 June 2021.  
BANDEX has thus become a financial intermediation entity promoting the development of productive 
sectors of strategic interest for the economic diversification and strengthening of the Dominican 
Republic, and is devoted to financing projects with a high social impact the nature of which requires 
better conditions than those offered by commercial banks.  
The Export and Development Bank (BANDEX), may, as a first - and second -tier bank, carry out the 
following operations and prov ide the following services, where applicable:  
- Receive savings and time deposits in national and foreign currency.  
- Issue public offerings.  
- Receive loans from national and foreign, public or private, bilateral or multilateral financial 
entities.  
- Issue bills,  payment orders and drafts against the accounts of their own offices or agents, 
collect and make payments, and make fund transfers.  
- Channel financial resources to the export sector and productive sectors for development and 
investment projects, in national  or foreign currency, through credit lines comprising pre -and 
post shipment financing, through eligible financial intermediation entities or directly, on the 
basis of conditions determined by the Board of Directors of the entity, within the framework 
of the first and second -tier policies approved by the Monetary Board.  G/AG/W/125/Rev.18/Add.2  
 
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  - Provide financing for working capital including the operational costs and expenses pertaining 
to, inter alia, the production process, the marketing of goods and services, the purchasing 
of ra w materials, labour payments and manufacturing costs, through eligible financial 
intermediation entities or directly, on the basis of conditions determined by the Board of 
Directors of the entity, within the framework of the policies approved by the Moneta ry Board.  
- Discount documents such as commercial invoices, letters of credit, bills of exchange, 
payment orders, promissory notes and other commercial documents representing methods 
of payment, through eligible financial intermediation entities or directly,  on the basis of 
conditions determined by the Board of Directors of the entity, within the framework of the 
policies approved by the Monetary Board.  
- Enter into financial, operating and real estate lease contracts or any other form of lease 
contract, for co mmercial purposes.  
- Purchase, assign or transfer commercial paper and public offerings, and other liability 
instruments, and hold repurchase contracts on them, as determined by the Monetary Board 
in accordance with the relevant regulations.  
- Issue debit and charge cards linked to the savings accounts of its clients, in accordance with 
the relevant provisions.  
- Accept, issue, negotiate and confirm letters of credit.  
- Assume pecuniary obligations and provide guarantees and bonds to secure the fulfilment of 
its clients' specific obligations.  
- Accept time drafts arising from trade operations involving goods or services.  
- Carry out foreign exchange transactions in order to facilitate services for the productive and 
export sectors.  
- Establish correspondent services with banks abroad.  
- Provide advisory services for investment projects in the export sector and for productive 
sectors.  
- Provide technical assistance for studies on the organization and management of enterprises 
associated with the export sector or development pro jects.  
- Finance, undertake or commission technical, legal and financial studies for sectoral analysis, 
pre investment studies or project -structuring studies.  
- Provide training services and programmes covering business, accounting, business plans 
and the use of financial instruments.  
- Promote investment by financing productive -sector projects through public -private 
partnerships.  
- Support the implementation of projects linked to exports or productive sectors that 
contribute to the preservation of the environment.  
- Support technology transfer, innovation activities or the implementation of new technologies 
linked to exports and development projects.  
- Enter into cooperation agreements with national and international institutions or entities that 
meet the objectives of the entity, and act as an agent for foreign financial entities.  
- Serve as a trustee and carry out trust business in accordance with the Law on the 
Development of the Mortgage Market and Trusts in the Dominican Republic, as amended, in 
line wit h the entity's purpose.  
- Manage guarantee funds.  
- Assist in the preparation of credit applications and the legal requirements of clients, etc.  
- Receive non -refundable financial or technical cooperation from national and foreign, public 
or private, bilateral o r multilateral entities, to be channelled, in the form of financing, to 
productive sectors for development or export projects.  
- Engage in other operations and services relating to the purpose of the entity that are 
required by the new banking practices dete rmined by regulation. The Monetary Board shall 
have interpretative regulatory power to determine the nature of new instruments or 
operations that may be introduced as a result of new practices and that may be implemented 
or conducted by the entity, and to regulate new operations and services relating to the 
purpose of the entity.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
From 2022 to date, the export cr edit portfolio reaches DOP 545,560,394.75 approximately, this 
portfolio includes disbursements made to the Agricultural, Industrial and Tourism sectors. For our 
institution exports are a strategic pillar to which we are betting to grow, thus achieving grea t 
contributions to the national economy.  G/AG/W/125/Rev.18/Add.2  
 
- 17 - 
 
  4. Annual average premium rates/fees per programme  
Ranges between 8.00% and 14.50% . 
5. Maximum repayment terms per programme  
Ranges between 1 and 15 years . 
Note: according to each case assessed.  
Grace periods : Up to  two years depending on the use of the fund or nature of the operation.  
6. Annual average repayment periods per programme  
Not applicable   
7. Export destination or group of destinations per programme  
At Bandex  we provide support to all branches of the industrial sector that are export -oriented, as 
well as to all companies that participate in at least one link in the chain of this sector. We offer a 
personalized service, always oriented to the search of solution s that allow the growth of our clients. 
The credit or financing evaluation process must comply with policies, regulations and processes 
established by regulatory entities such as the Superintendency of Banks and the Central Bank of the 
Dominican Republic . 
8. Programme use by product or product group  
Applications  have been received for agricultural products, jewelry, tourism, among others.  
9. Additional information  
 
Additional information can be found here: https://bandex.com.do/creditos -a-la-exportacion/  G/AG/W/125/Rev.18/Add.2  
 
- 18 - 
 
  El Salvador  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
The Salvadoran Guarantee Fund (FSG) was established under Article 71 of the Law on the financial 
system for the promotion of development, and its resources are managed by the Development Bank 
of El Salvador (BANDESAL). Pursuant to Article 72 of the above -mentioned Law, these resources are 
used to facilitate access to financing for all production sectors and micro and small enterprises 
through the granting of guarantees, bonds and any other cred it payment commitment. In this 
regard, the FSG fosters the financing of working capital for exports through the granting of 
guarantees to Salvadoran enterprises, with the aim of  expanding the export base and promoting 
El Salvador as an exporting country th at generates employment for all sectors and boosts 
international competitiveness. The maximum amount guaranteed is USD  200,000, for a maximum 
term of one year with maximum cover of 70% if the credit guaranteed is backed up by the exporter's 
commercial invo ice or 50% if it is backed up by the purchase order, as set out below:  
 
DESTINATION  MAXIMUM  AMOUNT  
GUARANTEED  MAXIMUM TERM  MAXIMUM COVER  
EXPORT  WORKING  CAPITAL  
Backed up by invoices   USD 200,000.00  1 year  70% 
EXPORT WORKING CAPITAL  
Backed up by purchase orders  USD 200,000.00  1 year  50% 
 
2. Description of Export Financing Entity  
In 2012, the Law on the financial system for the promotion of development (Legislative Decree 
No. 847 of 22  September  2012) created BANDESAL, a public credit institution. BANDESAL's aim is 
to facilitate access to financing for production sectors, principal ly those not served by commercial 
banks, including: agriculture, agro -industry, industry, services, energy, exports, tourism, housing, 
production infrastructure and MSMEs.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
From 2018 to date, no guarantees have been granted for export -related credits.  
4. Annual average premium rates/fees per programme  
Not applicable.  
5. Maximum repayment terms per programme  
Not applicable.  
6. Annual average repayment periods per programme  
Not applicable.  
7. Export destination or group of destinations per programme  
Not applicable.  
8. Programme use by product or product group  
Not applicable.  
 
 
  G/AG/W/125/Rev.18/Add.2  
 
- 19 - 
 
  European Union  
No expo rt credit, export credit guarantees or insurance programmes are operated at the EU level. 
The data concerning various export financing schemes operated by the EU member States is annexed 
to this note2.  
Austria  
1. Description of the programme  (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
General progra mme (non-agriculture specific) for export credit insurance. An extremely limit ed 
volume of agricultural products is covered under the General program me. Agricultural products are 
usually covered by the private market.   
Federal Law relating to the granting of Guarantees for Contracts and Rights (Export Guarantees Act), 
Federal Law Ga zette No.215/1981 as last amended on 6 December 2022.  
(http://www.ris.bka.gv.at ) 
https://www.ris.bka.gv.at/Dokumente/BgblAuth/BGBLA_2022_I_193/BGBLA_2022_I_193.pdfsig  
2. Description of Export Financing Entity  
Oesterreichische Kontrollbank AG (OeKB ) by providing refinancing facilities to the commercial banks.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme : 
One tr ansaction amounting to EUR 0.1 million under the general programme.  
4. Annual average premium rate s/fees per programme  
2,4%  premium rates . 
5. Maximum repayment term s per programme  
30 days . 
6. Annual average repayment period s per programme  
Not applicable.  
7. Export destination or group of destinations per programme  
Serbia . 
8. Programme  use by product or product group  
Vegetables: EUR 100 ,000. 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
Yes. 
10. Specify the legislative provision and provide a link if available  
The Austrian export credit system does foresee the possibility to offer exp ort credit insurance for 
agricultural products close to maximum repayment term mentioned above.  
 
2 In some EU member States the data on "exports" includes intra -EU trade as disaggregated data on 
extra-EU trade only is not available.  G/AG/W/125/Rev.18/Add.2  
 
- 20 - 
 
  Belgium  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental expo rt credit support) 
and relevant legislation  
Nil. 
2. Description of Export Financing Entity  
Nil. 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Nil. 
4. Annual average premium rates/fees per programme  
Nil. 
5. Maximum repayment terms per programme  
Nil. 
6. Annual average repayment period per programme  
Nil. 
7. Export destination or group of destinations per programme  
Nil. 
8. Programme use by product or product group  
Nil. 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative prov ision and provide a link if available  
Not applicable.  G/AG/W/125/Rev.18/Add.2  
 
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  Bulgaria  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
Risk cover programme against non -marketable short -term and medium -term commercial and 
non-commercial risks. The programme does not involve any credit instruments. Hence repayment 
and respectively maximum repayment term and annual average repay ment period, are not 
applicable . 
Bulgarian Export Insurance Act, Order No. 101 of the Council of Ministers of the Republic of Bulgaria 
dated 18 December 1997 . 
2. Description of Export Financing Entity  
Bulgarian Export Insurance Agency (BAEZ) : http://baez.bg/ .  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
Total value of exports covered by non -marketable short -term commercial risk (in  million  EUR)  
2022: EUR 1 .327 million.  
4. Annual avera ge premium rate s/fees per programme  
Annual average premium rated for non -marketable short -term commercial risk (%) 2022: 0.81%. 
5. Maximum repayment term s per programme  
Not applicable.  
6. Annual average repayment period s per programme  
Not applicable.  
7. Export destination or group of destinations per programme  
North Macedonia; India; Türkiye; Serbia; Kuwait, the State of ; Saudi Arabia, Kingdom of.  
8. Programme  use by product or product group  
Product Export value, million EUR . 
Nuts: 1.197  
Vegetables: 0.130  
 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative prov ision and provide a link if available  
Not applicable.  G/AG/W/125/Rev.18/Add.2  
 
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  Czech Republic  
1. Description of the program me (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant leg islation  
EGAP - short-term export credit insurance (Insurance of a Short -Term Export Supplier Credit, resp. 
Insurance of a Short -Term Export Supplier Credit Financed by a Bank).  
Legal basis: EGAP operates in accordance with the regulations in force: Insurance Act No.  277/2009 
Coll. as amended, and Act No. 58/1995 Coll., on Insurance and Financing of Exports with State 
Support and on Supplement  to Act No. 166/1993 Coll., on the Supreme Audit Office, as amended.  
CEB 
Česká exportní banka, a.s. (Czech Exp ort Bank or CEB) provides short -term and long -term export 
financing support (export credits, guarantees, purchase of export receivables etc.) for 
Czech  exporters, i.e. general export promotion program mes not focused on agricultural products. 
CEB operates i n accordance with Act No. 58/1995 Coll., on Insurance and Financing of Exports with 
State Support and on Supplement to Act No. 166/1993 Coll., on the Supreme Audit Office, as 
amended.  
2. Description of Export Financing Entity  
EGAP  
(Exportní garanční a poj išťovací společnost, a.s./Export Guarantee and Insurance Corporation) is an 
insurance company having a legal form of a joint -stock company fully owned by the Czech state 
(one shareholding ministry: Ministry of Finance).   
https://www.egap.cz/en  
CEB  
Czech Export Bank is a specialized banking institution with an exclusive authorization to provide 
financing to promote the Czech exports, established in 1995 under the laws of the Czech Republic.  
https://www.ceb.cz/en/  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per program me 
EGAP:   
2022: CZK 134.9 million . 
CEB: 
2022: CZK 0. 
4. Annual average premium rates/fees per program me 
EGAP  
2022: 0.30%. 
CEB 
2022: Not applicable.  
 G/AG/W/125/Rev.18/Add.2  
 
- 23 - 
 
  5. Maximum repayment terms per program me 
EGAP  
Three  months  is the maximum repayment term of the realized transactions. In general, maximum 
available repayment term of this program me is two years. However, maximum repayment term for 
the export of agricultural products/commodities is 18 months. It is part of the pr oduct overview – 
basic terms and conditions of insurance on the company 's website.  
https://www.egap.cz/en/insurance -short-term-export -supplier -credit-against -risk-non-payment  
and/or  
https://www.egap.cz/en/insurance -short-term-export -supplier -credit -financed -bank-against -risk-
non-payment  
CEB 
Short-term general program mes up to two years, long -term general program mes in compliance with 
the OECD Arrangement on Officially Supported Export  Credits.  
As of 31 December 2017, CEB provides supported financing for agricultural products specified in the 
WTO 2015 Nairobi Ministerial Decision with a maximum repayment term of no more than  18 months.  
6. Annual average repayment periods per program me 
EGAP 
2022: 2.1 months . 
CEB 
2022: Not applicable.  
7. Export destination or group of destinations per program me 
EGAP  
Israel; Kazakhstan; Russian Federation; Ukraine; Egypt; Georgia; Morocco . 
CEB 
2022: not applicable . 
8. Program me use by product or product group  
EGAP  
Beer, food supplements, food granulate, canned food, spices . 
CEB 
2022: not applicable.  
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative provision and provide a link if available  
EGAP  
 
Maximum repayment terms limit of 18 months for the export of agricultural products stipulated in 
§ 15 (a) of WTO Ministerial Decision WT/MIN(15)/45 of 19/12/2015 is incorporated directly in the 
internal insurance guidelines of EGAP.  
 G/AG/W/125/Rev.18/Add.2  
 
- 24 - 
 
  This information is available at the company´s website as a part of the product overview - basic 
terms and conditions of i nsurance:  
https://www.egap.cz/en/insurance -short-term-export -supplier -credit -against -risk-non-payment   
and/or  
https://www.egap.cz/en/insurance -short-term-export -supplier -credit -financed -bank-against -risk-
non-payment   
CEB – n/a. G/AG/W/125/Rev.18/Add.2  
 
- 25 - 
 
  Croatia  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
No specific supporting program mes/schemes for export of agricultural products. General 
program mes for supplier credit, buyer credit and export guarantees, short term insurance and 
reinsurance , pre-export finance.  
Legal basis: Act on the Croatian Bank for Reconstruction and Development (OG 138/06, OG 25/13) .  
Regulation on Export Credit Insurance (OG 53/20 ), Communication from the Commission to the 
member States on the application of Articles 107 and  108 of the Treat y on the Functioning of the 
European Union to short -term export -credit insurance (2012/C 392/01).  
Due to lack of insurance and reinsurance capacity on the Croatian market, European Commission in 
December 2018 has extended the "Escape clause", allowing HBOR a state intervention (until the end 
of December 2024) for export -credit insurance and reinsurance for temporarily non -marketable risks 
for which there is no capacity on the private market.  
2. Description of Export Financing Entity  
Croatian Ba nk for Reconstruction and Development (HBOR) operates as export -credit bank and as 
authorized export -credit agency (ECA) which provides export credit insurance operations on behalf 
and for the account of the Republic of Croatia.  
3. Total value of export of  agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
4,054,487 EUR in 2022 (Short term insurance and reinsurance) and 1,524,346 EUR (Pre -export 
finance short -term working capital loans).  
In 2022 there were no approvals for agriculture under the Supplier credit or Buyer credit lending 
programs, as well as no approvals for agriculture under Export guarantees (including Export 
performance guarantees).  
4. Annual average premium rate s/fees per programme  
This information is not held . 
5. Maximum repayment term s per programme  
Short -term general program mes up to one year.  
6. Annual average repayment period s per programme  
This information is not held . 
7. Export destination or group of destinations per programme  
Italy; United States of America; Germany; Slovenia; Hungary; Austria; Greece; Saudi Arabia, 
Kingdom of; Romania.  
8. Programme  use by product or product group  
Product/Insurance programme/Value of exp ort covered in 2022 . 
 
Cereals and oilseeds/Insurance of short -term export receivables : EUR 2 ,759,217. 
Meat products, vegetable products, flours and mixtures/Reinsurance of short -term export 
receivables : EUR 432 ,279. 
Animal feed/Insurance of short-term export receivables : EUR 286 ,886.  G/AG/W/125/Rev.18/Add.2  
 
- 26 - 
 
  Hazelnut/Insurance of short -term export receivables : EUR 225 ,100.  
Bee food/Insurance of short -term export receivables : EUR 100 ,000.  
Vine/Insurance of short -term export receivables : EUR 82 ,502.  
Corn extrudates /Insurance of short -term export receivables : EUR 80 ,090.  
Spices for the meat industry/Insurance of short -term export receivables : EUR 25 ,897. 
Apples/Insurance of short -term export receivables : EUR 22 ,516.  
Pasta/Insurance of short -term export receivables : EUR 20 ,000.  
Cornflakes/Insurance of short -term export receivables : EUR 20 ,000.  
Total Insurance/Reinsurance : EUR 4 ,054,487.  
0111 Cultivation of cereals (except rice), legumes and oilseeds/Pre -export finance short term 
liquidity loans : EUR 1,524,346. 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative provision and provide a  link if available  
Not applicable.  
 G/AG/W/125/Rev.18/Add.2  
 
- 27 - 
 
  Cyprus  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
Nil. 
2. Description of Export Financing Entity  
Nil. 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Nil. 
4. Annual average premium rates/fees per programme  
Nil. 
5. Maximum repayment terms per programme  
Nil. 
6. Annual average repayment period per programme  
Nil. 
7. Export destination or group of destinations per programme  
Nil. 
8. Programme use by product or product group  
Nil. 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
Nil. 
10. Specify the legislative provision and provide a link if available  
Nil. G/AG/W/125/Rev.18/Add.2  
 
- 28 - 
 
  Denmark  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
General export credit programme for Danish exporters.  
Reinsura nce programme available for the private, commercial export credit agencies operating in 
Denmark, but only to exports to markets outside the EU and OECD, as official export credit s of 
agricultural products is not permitted  within these markets.  
Legal basis:  Act no. 104 of 3 February 2016 on EKF.  
2. Description of Export Financing Entity  
Independent public company, official export credit agency,100% owned by the Danish state.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
The Danish general export credit programme covers some agricultural products. During  2022, 
EKF has issued expor t credit guarantees covering export of agricultural products worth 
approximately DKK  142 million.  
EKF also has re -insurance agreements with the private trade credit insurance companies that covers 
the agricultural/food sector i.e. the numbers also contain processed goods originating from the 
primary sector. Under these reinsurance agreements EKF guaran teed a maximum amount of 
DKK 779 million during 202 2.  
4. Annual average premium rate s/fees per programme  
Depends on the credit rating of the individual destination country.  
5. Maximum repayment term s per programme  
General export credit programme covering breeding animals: 18 months.  
Other agricultural products: One year or less.  
Reinsurance programme: 180 days.  
6. Annual average repayment period s per programme  
As above . 
7. Export destination or group of destinations per programme  
Mainly countries outside the EU/OECD.  
8. Programme  use by product or product group  
General export credit program me: Primarily capital goods.  
Reinsurance program me: All types of goods, but typically consumer goods.  
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
Yes. 
10. Specify the legislative provision and provide a link if available  
As Denmark's official export credit agency, EKF is governed by WTO, EU and OECD legislation.  G/AG/W/125/Rev.18/Add.2  
 
- 29 - 
 
  Estonia  
1. Description of the programme (direct financing support, risk cover, government to 
government credi t agreements or any other form of governmental export credit support) 
and relevant legislation   
Products offered to agricultural and food processing industry are  all under short-term credit 
insurance products.  Estonian Law - State Export Guarantees Act:  
https://www.riigiteataja.ee/en/eli/508022022001/consolide . 
2. Description of Export Financing Entity  
AS KredEx Krediidikindlustus . 
3. Total value of export of agricul tural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
In 2022, export of Estonian agricultural and food products to the amount of the EUR 4.7 million was 
supported by the state (short term credit r einsurance).  
4. Annual avera ge premium rate s/fees per programme  
As agreed, the short -term credit insurance premiums are provided within each of the insurance 
contracts that are negotiated with the exporter according to the insurance cover provided. Premium 
rates range between 0.13% and 3.47% of the insured credit turnover across all industries.  
5. Maximum repayment term s per programme  
Short -term credit insurance: up to 12 months.  
6. Annual average repayment period s per programme  
Short -term credit insurance: 70 days . 
7. Export destination or group of destinations per programme  
Global coverage for short -term credit insurance.  The main export destinations were Finland, Latvia, 
Russian Federation, Iceland and Italy.  
8. Programme  use by product or product group  
Beverages EUR 2.1 million, bakery products EUR 1.7 million, chips (plant cultivation products) 
EUR 0.3 million, canned food (plant cultivation products) EUR 0.3 million, confectionary products 
EUR 0.2 million, herbal produc ts (from algae) EUR 0.1 million.  
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the le gislative provision and provide a link if available  
State Export Guarantees Act1 Passed 29.10.2009  
https://www.riigiteataja.ee/en/eli/508022022001/consolide   
 
Insurance Activities A ct1 Passed 10.06.2015  
https://www.riigiteataja.ee/en/eli/509122022003/consolide   G/AG/W/125/Rev.18/Add.2  
 
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  Finland  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
General programme  (non-agriculture specific) for risk cover and credit insurance.   
2. Description of Export Financing Entity  
Finnvera  plc, State specialized financing company .  
https://www.finnvera.fi/ . 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
Total covered exports for agriculture products were EUR 8.5 million in 20 22. 
4. Annual avera ge premium rate s/fees per programme  
1.0 - 2.4% per annum on the volume of covered exports . 
5. Maximum repayment term s per programme  
180 days . 
6. Annual average repayment period s per programme  
Typical credit terms are 30-180 days . 
7. Export destination or group of destinations per programme  
In 2022, largest volumes were exported to Georgia, around 37% of supported exports, then 
Armenia  36% and Russian Federation 13%.  
8. Programme  use by product or product group  
In 2022, dairy products accounted for 86.5% of supported exports, barley malt 10.6% and animal 
and fish feed 2.8%.  
9. Does national legislation impose for pr ogrammes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
Yes. 
10. Specify the legislative provision and provide a link if available  
Export Guarantee Act 4 22/2001 requires Finnvera plc to take into account international rules and 
regulations concerning export credits and insurance that are binding on Finland. 
https://www.finlex.fi/fi/laki/ajantasa/2001/20010422 .  G/AG/W/125/Rev.18/Add.2  
 
- 31 - 
 
  France  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislatio n  
- Short -term export credit guarantees for the financing of exports of certain food products 
to Cuba.  
 
- Reinsurance of short -term guarantees issued by private credit insurers. This program 
("Cap  Francexport") was launched in 2020 in order to cope with the private market withdrawal 
on export contracts during the COVID -19 crisis.  
French Insurance Code (L.432 -2 and following articles, R. 442 and following articles).  
Communication from the Commission to the member States on the application of Articles  107 
and 108 of the Treaty on the functioning of the European Union to short -term export -credit 
insurance.  
2. Description of Export Financing Entity  
Bpifrance Assurance Export : a financial company under public control, duly empowered by French 
law to manage and grant export guarantees on behalf of the French State.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
Cuba: EUR 71,768,750  
Cap Francexport: EUR 32,927,300  
4. Annual average premium rate s/fees per programme  
Cuba: 2.42%.  
Cap Francexport: 1.63% (this information is rather approximate as, sometimes, the premium rate 
data on Cap Francexport  is not provided by the private insurers).  
5. Maximum repayment term s per programme  
Cuba: 12 months . 
Cap Francexport: 540 days maximum allowed by the treaty CAP Frencexport . 
6. Annual average repayment period s per programme  
Cuba: 12 months . 
Cap Francexport: 210 days in 2022.  
7. Export destination or group of destinations per programme  
Cuba.  
Cap Francexport , top 3 in 2022: USA (8%); Italy (5%); China (5%).  
8. Programme  use by product or product group  
Cuba: Wheat.  
Cap Francexport: cereals, vegetables, dairy products, wine, meat, fruits, cattle, fishes and sea 
products.  
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision W T/MIN(15)/45 of 19/12/15?  
 
10. Specify the legislative provision and provide a link if available  
 G/AG/W/125/Rev.18/Add.2  
 
- 32 - 
 
  Germany  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental ex port credit support) 
and relevant legislation   
Pure cover only (no specific agriculture programme).  
Annual Budget law 2022 and the Guidelines on the grant of Export Guarantees, as last amended on  
4 June 2014 (only German version) . 
2. Description of Export Financing Entity  
Euler Hermes Aktiengesellschaft is entrusted with the management of the state export guarantee 
scheme. It acts as service provider for the government of Federal Republic of Germa ny. 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
EUR 7.36 million (pure cover) . 
4. Annual average premium rate s/fees per programme  
Not applicable.  
5. Maximum repayment term s per programme  
Not applicable.  
6. Annual average repayment period s per programme  
Not applicable.  
7. Export destination or group of destinations per programme  
Not applicable.  
8. Programme  use by product or product group  
Not applicable.  
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative provision and provide a link if available  
Not applicable - For the rules on repayment terms see the current English version: Practical 
information; Hermes cover special; Permissible repayment terms in connection with the granting of 
export credit cover (agaportal.de)  G/AG/W/125/Rev.18/Add.2  
 
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  Greece  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
No specific supporting program mes for export of agricultural p roducts. General program mes for 
export credit insurance. Legal basis: Law No. 4918/2022  (Official Gazette A' 68/31.3.2022 ). 
2. Description of Export Financing Entity  
Export Credit Greece S.A. (henceforth 'ECG') is the Greek Export Credit Agency (ECA), prev iously 
denominated ECIO (Export Credit Insurance Organization). Through the adoption of the new 
Statutory Law No. 4918/2022, which includes the new Articles of Association, ECG has undertaken 
a deep restructuring program to respond to the fast -paced evolut ion of the Greek market and meet 
the growing demand for access to finance for capital expenditure or working capital needs from 
Greek enterprises. ECG's main objective is that of supporting national enterprises in their 
internationalization process through  export credit and credit insurance products. ECG has 
administrative and financial independence, operates in accordance with the rules of the private 
economy and is supervised by the Minister of Foreign Affairs. ECG can cover both commercial and 
political risks, connected to both short -term and medium -long term transactions. Covered risks are 
the risks of loss, caused by political, economic, commercial and credit risks and the risks associated 
with them, in accordance with national and European Union law, a s well as international agreements 
governing export credit organizations or companies.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Not applicable . 
4. Annual average premium rates/fees per programme  
Not applicable . 
5. Maximum repayment terms per programme  
Not applicable . 
6. Annual average repayment period per programme  
Not applicable.  
7. Export destination or group of destinations per programme  
Not applicable.  
8. Programme use by product or product group  
Not applicable.  
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
 
10. Specify the legislative provision and provide a link if available  
Nil. G/AG/W/125/Rev.18/Add.2  
 
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  Hungary  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of government al export credit support) 
and relevant legislation   
Hungarian Export Credit Insurance Ltd. provides export credit insurance for non -payment of the 
buyer or the credit debtor.  
Hungarian Export -Import Bank provides official support in form of guarantees to exporters and direct 
lending directly or via refinanced financial institutions. Hungarian Export -Import Bank conducts the 
tied aid facilities to developing countries.  
2. Description of Export Financing Entity  
Hungarian Export Credit Insurance  Ltd. and  Hungarian Export -Import Bank were established 
in 1994. The official export credit agency (ECA) is a private company limited by shares, which is 
solely owned by the State, but its funding is achieved through the capital market.  
3. Total value of e xport of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
• Export credit insurance covered EUR 3.3 million (HUF 1.334 billion)  in 2022.  
• Official guarantees were not issued.  
• The value of outstanding officially supported export credits was EUR 2.0 million  at the end 
of 2022. 
4. Annual average premium rate s/fees per programme  
• For short -term export credit insurance, the annual average premium rate was  10.4% in 2022. 
For medium and long -term insurance: N/A.  
• The annual average weighted interest rate for the credits was 1.56% in 20 22. 
5. Maximum repayment term s per programme  
The maximum repayment term of export credits and export credit insurance is maximum 18  months.  
6. Annual average repayment period s per programme  
• The average repayment period under ST credit insuranc e was approx. Ten months for year  2022.  
• For MLT insurance: N/A.  
• The average repayment term of the credits was: 14 months  with lump sum as of 31.12.202 2. 
7. Export destination or group of destinations per programme  
As far as non -EU countries are concerned, the following destinations prevailed in 2022: 
Insurance cover: Russian Federation3; Ukraine ; Moldova , Republic of; Macedonia ; Ghana ; Serbia ; 
Mongolia ; Viet Nam; Egypt ; Azerbaijan .  
Credits: Russian Federation, North -Macedonia, Azerbaijan, Honduras, Mongolia . 
8. Programme  use by product or product group  
Production of mill product, cattle breeding, processing and preservation of poultry, wholesale of 
tobacco, seeds and fodder, processing of dairy products, production of sweets (confection), grape 
vine cultivation, production of farm animal feed, production  of food supplement, wholesale of 
livestock . 
 
3 Until the breakout of the Russo -Ukrainian  war. G/AG/W/125/Rev.18/Add.2  
 
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  9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Sp ecify the legislative provision and provide a link if available  
 G/AG/W/125/Rev.18/Add.2  
 
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  Ireland  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
Nil. 
2. Description of Export Financing Entity  
Nil. 
3. Total v alue of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Nil. 
4. Annual average premium rates/fees per programme  
Nil. 
5. Maximum repayment terms per programme  
Nil. 
6. Annual a verage repayment period per programme  
Nil. 
7. Export destination or group of destinations per programme  
Nil. 
8. Programme use by product or product group  
Nil. 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
Nil. 
10. Specify the legislative provision and provide a link if available  
 G/AG/W/125/Rev.18/Add.2  
 
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  Italy  
1. Description of the program me (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
There is no specific product or program me for agricultural products. All the supported tra nsactions 
mentioned fall under risk cover (export credit insurance) and have been supported in conformity 
with the terms and conditions set out in article 15. (a) and (b) of the Nairobi Ministerial Declaration 
on Export Competition (WT/MIN(15)/45 — WT/L/98 0). 
2. Description of Export Financing Entity  
SACE SpA - Italian Export Credit Agency . 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per program me 
EUR 2,411.944  million . 
4. Annual average premium rates/fees per program me 
2.48%. 
5. Maximum repayment terms per program me 
18 months . 
6. Annual average repayment period per program me 
10,5 months . 
7. Export destination or group of destinations per program me 
Export destin ations:  Algeria; Brazil;  Mexico; Philippines; Qatar ; Saudi Arabia, Kingdom of ; Thailand; 
United Arab Emirates . 
8. Program me use by product or product group  
Insurance Policy "Supplier Credit" . 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative provision and provide a link if available  
No, there is no national law but  Italy directly applies and the Nairobi Decision.  G/AG/W/125/Rev.18/Add.2  
 
- 38 - 
 
  Latvia  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
Short -term export credit guarantees : short-term export credit insurance for export transactions with 
deferred payment up to 730 days, for agricultural products deferred payment should not 
exceed  547 days).  
Risk cover: short -term export credit insurance for non -marketable and temporarily non -marketable 
risks.  
Legislation:  
1. Regulation No 866 on short -term export credit guarantees for economic entities approved on 
20 December 2016 by Ministers of Cabinet;  
2. Communication from the Commission to the member States on the application of Articles  107 
and 108 of the Treaty on the Functioning of the European Union to short -term export credit 
insurance (2012/C 392/01);  
3. EC Decision: State aid SA.47233 (2017/N) – Latvia "Short term export credit Scheme".  
2. Description of Export Financing Entity  
Guarantees are provided by Development  Finance Institution Altum , JSC. 
Fully owned by the Latvian state, the shareholders are Ministry of Economics, Ministry of Finance 
and Ministry of Agriculture.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
Total value (turnover per year 2022) of export credit guarantees (specific for agricultural 
products):  EUR 0.66 million . 
4. Annual average premium rate s/fees per programme  
Approximately 1.43%. 
5. Maximum repayment term s per programme  
For export transactions of agricultural products deferred payment up to 547 days.  
6. Annual average repayment period s per programme  
46 days. 
7. Export destination or group of destinations per programme  
Russian Federation; Morocco; Belarus; Ukraine; Italy; Estonia; Spain; Moldova, Republic of; 
Lithuania; Romania; Kazakhstan.  
8. Programme  use by product or product group  
Export credit guarantee program me is not limited to specific products or sectors.  
The following food -related sectors (C.10 by NACE 2 Classification) have been subject to the 
programme:  
10.2 Processing and preserving of fis h, crustaceans and molluscs, value EUR 0.37 million.  
10.3 Processing and preserving of fruit and vegetables,  value EUR 0.01 million.  
10.5 Manufacture of dairy products,  value EUR 0.09 million.  
10.6 Manufacture of grain mill products, starches and starch pr oducts,  value EUR 0.03 million.  G/AG/W/125/Rev.18/Add.2  
 
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  11.0 Manufacture of beverages,  value EUR 0.16 million.  
 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
Yes. 
10. Specify the legislative provision and provide a link if available  
Regulation No 866 on short -term export credit guarantees for economic entities approved on 
20 December 2016 by Ministers of Cabinet;  
 
https://likumi.lv/ta/id/287648 -istermina -eksporta -kredita -garantiju -izsniegsanas -noteikumi -
komersantiem -un-atbilstosam -lauksaimniecibas -pakalpojumu -kooperativajam   G/AG/W/125/Rev.18/Add.2  
 
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  Lithuania  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
General program mes for providing export credit guarantees. Order No 4 -620 of the Minister of 
Economy and Innovation of the Republic of Lithua nia of 30 October 2019 on regulation of providing 
export credit guarantees  (with later amendments).  
Communication from the Commission to the member States on the application of Articles  107 
and 108 of the Treaty on the Functioning of the European Union to short-term export -credit 
insurance  2012/C 392/01.  
2. Description of Export Financing Entity  
Limited liability company INVESTICIJŲ IR VERSLO GARANTIJOS (INVEGA). The state is the founding 
member and the sole shareholder of INVEGA. All shares in INVEGA are held by the Ministry of Finance 
of the Republic of Lithuania.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
Issued export credit guarantees for agricu ltural products for total amount  in 2022: EUR 733,000. 
4. Annual average premium rate s/fees per programme  
Payable fee for the export credit guarantee is calculated for each declared sale of export goods (with 
a deferred payment option) during the applicabl e term for invoicing. In every case it depends on the 
risk profile of a foreign buyer, risk group of the country of destination, amount of the guarantee and 
the due date of deferred payments.  
Approximate guarantee fee was 1.08% in 2022.  
5. Maximum repayment term s per programme  
18 months.  
6. Annual average repayment period s per programme  
Typical term 30-60 days.  
7. Export destination or group of destinations per programme  
Ukraine; Uzbekistan; Moldova, Republic of; Georgia; South Africa; Chinese Taipei.  
8. Programme use by product or product group  
Grains, groats, flakes, grain mill products, crispy bread, beer and non -alcoholic beverages, 
confectionery products (sweets), fish feed .  
9. Does national legislation impose for programmes concer ning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
 
10. Specify the legislative provision and provide a link if available  
 G/AG/W/125/Rev.18/Add.2  
 
- 41 - 
 
  Luxembourg  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
Nil. 
2. Description of Export Financing Entity  
Nil. 
3. Total v alue of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Nil. 
4. Annual average premium rates/fees per programme  
Nil. 
5. Maximum repayment terms per programme  
Nil. 
6. Annual a verage repayment period per programme  
Nil. 
7. Export destination or group of destinations per programme  
Nil. 
8. Programme use by product or product group  
Nil. 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
Nil. 
10. Specify the legislative provision and provide a link if available  
Nil. 
  G/AG/W/125/Rev.18/Add.2  
 
- 42 - 
 
  Malta  
1. Description of the programme (direct financing supp ort, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
Not applicable.  
2. Description of Export Financing Entity  
Not applicable.  
3. Total value of export of agricultura l products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Not applicable.  
4. Annual average premium rates/fees per programme  
Not applicable.  
5. Maximum repayment terms per programme  
Not applicable.  
6. Annual average repayment period per programme  
Not applicable.  
7. Export destination or group of destinations per programme  
Not applicable.  
8. Programme use by product or product group  
Not applicable.  
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative provision and provide a link if available  
Not applicable.  
  G/AG/W/125/Rev.18/Add.2  
 
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  Netherlands  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
1) Export credit insurance and guarantees.  
2) Direct financing support as part of the Dutch Good Growth Fund and Dutch Trade and Investment 
Fund.  
2. Description of Export Financing Entity  
Atradius Dutch State Business N.V. is the Export Credit Agency of the Netherlands.  
3. Total value of export of agr icultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
Not applicable.  
4. Annual average premium rate s/fees per programme  
Not applicable.  
5. Maximum repayment term s per programme  
Not applicable.  
6. Annual average repayment period s per programme  
Not applicable.  
7. Export destination or group of destinations per programme  
Not applicable.  
8. Programme  use by product or product group  
Not applicable . 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative provision and provide a link if available  
Not applic able. G/AG/W/125/Rev.18/Add.2  
 
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  Poland  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
Risk Cover -Insurance of short -term export recei vables against non -marketable & temporary 
non-marketable risk and bonds concerning letters of credit - facilities backed by the State Treasury.  
Legal basis:  
• The Act of 7 July 1994 on Export Insurance Guaranteed by the State Treasury;  
• Regulation of the Minister of Economy of 19 December 2014 – concerning the maximum 
percentage share of foreign -origin components in the net revenues from performance of an 
export contract and the types of evidence to serve as the basis for determining the origin of 
a produc t or service.  
2. Description of Export Financing Entity  
KUKE S.A.: joint stock company registered in Poland with a majority share held by the State Treasury 
that is mandated to provide export insuranc e backed by the State Treasury.  KUKE S.A. extends also 
cover of domestic and export receivables on market conditions as well as contract guarantees.  
http:/www.kuke.com.pl/  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
In USD  
Trade receivables insurance: USD 151,769,438 . 
Bonds concerning LCs: USD 174,320 . 
4. Annual avera ge premium rate s/fees per programme  
Trade receivables insurance: 0.51% . 
Bonds concerning LCs: 1.141% . 
5. Maximum repayment term s per programme  
Maximum repayment term cannot exceed 540 days.  
6. Annual average repayment period s per programme  
Trade receivables insurance: 60 days.  
Bonds concerning LCs: 540 days . 
7. Export destination or group of destin ations per programme  
The geographic distribution of supported by KUKE export was dominated by Ukraine, followed by  
Türkiye, Serbia and Belarus . 
8. Programme  use by product or product group  
Dairy products  (USD 15,521,028), cereals (USD 27,883,444), meat (USD 10,591,898), fruits and 
vegetables (USD 19,132,247), soft drinks  (USD 6,011,868), agricultural products  (USD 1,224,478) 
and other food products  (USD 71,578,794).  
9. Does national legislation impose for programmes concerning agri cultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
 
10. Specify the legislative provision and provide a link if available  
 G/AG/W/125/Rev.18/Add.2  
 
- 45 - 
 
  Portugal  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
No specific supporting program mes/schemes for export of agricu ltural products. The following 
program mes are applied to all kinds of Portuguese exports of goods and services . 
Short Term Facility: it is a Short term Export Credit Insurance Facility that provides pure cover to 
the exports of goods and services of Portug uese origin, supported by a Portuguese State Guarantee, 
to non -marketable risk countries according to the Communication from the Commission to the 
member States on the application of Articles 107 and 108 of the Treaty on the Functioning of the 
European Uni on to short -term export -credit insurance (OJ C 392, 19.12.2012) . 
OECD 2021 Facility – It is also a Short term Export Credit Insurance Facility backed by an top -up 
Portuguese State Guarantee, launched in 2020, under the Temporary Framework for State aid 
measures to support the economy in the current COVID -19 outbreak, and extended until 
31 March 2022, by the "The sixth Amendment to the Temporary Framework" that temporarily 
allowed - until 31 M arch 2022 - the insurance of the risks considered in the Annex to the 
Communication from the Commission to the member States on the application of Articles  107 
and 108 of the Treaty on the Functioning of the European Union to short -term export -credit 
insurance(2021/C 34/06). As a consequence, this scheme is no longer in force since 31 March  2022.  
 
The insurance entity engaged:  
 
Short Term Facility – COSEC . 
OECD 2021 Facility – COSEC; Credit Y Caucion; COFACE; CESCE . 
2. Description of Export Financing Entity  
There aren 't financing entities, only insurance companies above mentioned.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
No specific supporting program mes/schemes for export of agricultural products.  
4. Annual average premium rates/fees per programme  
Short Term Facility: 2.60%. 
OECD Facility 202 1: 2.31%. 
5. Maximum repayment terms per programme  
Short Term Facility : 24 months, for short -term commercial and political risk . 
OECD Facility 2021 : 6 months . 
6. Annual average repayment period per programme  
Short Term Facility: 3 months.  
OECD Facility 202 1: 5 months . 
7. Export destination or group of destinations per program me 
Short Term Facility: the destinations are the Portuguese Speaking countries, mainly in Africa 
(Angola, Mozambique, Cabo Verde) and Brazil.  
OECD Facility 2021: United States of America, Spain, France, United Kingdom, Germany, Italy, 
Netherlands, etc.  G/AG/W/125/Rev.18/Add.2  
 
- 46 - 
 
  8. Programme use by product or product group  
No discrimination of products by Programs  
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative provision and provide a link if available  
Not applicable.  G/AG/W/125/Rev.18/Add.2  
 
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  Romania  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreeme nts or any other form of governmental export credit support) 
and relevant legislation   
Risk cover: Short -term export credit insurance for non -marketable and temporarily non -marketable 
risks (pure cover) .  
Relevant legislation:  
• Communicat ion from the Commission to the m ember States on the application of Articles  107 
and 108 of the Treaty on the Functioning of the European Union to short -term export -credit 
insurance 2012/C 392/01;  
• Law No. 96/2000, as republished, regarding the organisation and functioning of Banca de 
Export -Import a Romaniei Exim Bank S.A., published in the Official Journal of Romania, Part  I, 
No. 260/18.04.2007 , as amended ; 
• Government Decision No. 534/2007, regarding th e establishment, responsibilities  and 
functioning of the Interministerial Committee for Financing, Guarantees and Insurance, 
published in the Official Gazette of Romania, Part I, No. 417/22.06.2007, as amended ;  
• Norm "Short -term export credit insurance, on  Behalf and for the Account of the State, of 
non-marketable and temporarily non -marketable risks", published in Official Gazette of 
Romania, Part I, no. 3405/28.04.2022 . 
2. Description of Export Financing Entity  
According to the provisions of Law No. 96/20 00, the Export -Import Bank of Romania EximBank S.A. 
is authorized to provide on behalf and for the account of the Romanian State:  
short term cover for non -marketable and temporarily non -marketable risks, in compliance with 
the Communication from the Commis sion to the member States on the application of Articles  107 
and 108 of the Treaty on the Functioning of the European Union to short -term export -credit 
insurance (2012/C 392/01), as amended;  
medium and long -term cover, in compliance with Regulation (EU) No . 1233/2011 of the 
European Parliament and of the Council of 16 November 2011 on the application of certain 
guidelines in the field of officially supported export credits, as amended.  
EximBank' medium and long -term cover does not apply to exports of agricultural commodities, which 
are outside the scope of the EU Regulation incorporating the OECD Arrangement on Officially 
Supported Export Credits.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or i nsurance program mes and use per  programme  
2022: Nil. 
4. Annual average premium rate s/fees per programme  
2022: Nil. 
Note: EximBank applies the same risk -based pricing methodology and premium rates for all types 
of exports, either industrial, agricultural go ods or services . 
5. Maximum repayment term s per programme  
Max. 18 months.  
Note: in compliance with the Nairobi Ministerial Decision of 19 December 2015 – WT/MIN(15)/45 – 
WT/L/980.  G/AG/W/125/Rev.18/Add.2  
 
- 48 - 
 
  6. Annual average repayment period s per programme  
Max. 18 months.  
Note: in compliance with the Nairobi Ministerial Decision of 19 December 2015 – WT/MIN(15)/45 – 
WT/L/980.  
7. Export destination or group of destinations per programme  
In principle, EximBank is open for cover for non -EU and non -OECD countries that are not subject 
to EU and international sanctions.  
8. Programme use by product or product group  
In principle, EximBank  is open to cover all types and groups of agricultural products which obtain 
the export licence from the Agency for Payments and Intervention in Agriculture (APIA) . 
9. Does national legislation impose for programmes concerning agricultural products, a 
maxi mum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
Yes. 
10. Specify the legislative provision and provide a link if available  
Article 16 paragraph (3) of Norm "Short -term export credit insurance, o n Behalf and for the Account 
of the State, of non -marketable and temporarily non -marketable risks:  
 
16 (3): "In case of export transactions having as an object the agricultural goods provided for in 
Annex 1 to the WTO Agreement on Agriculture, the insuranc e terms and conditions shall be set in 
compliance with the provisions of the Nairobi Ministerial Decision of 19 December 2015 – 
WT/MIN(15)/45 – WT/L/980" . G/AG/W/125/Rev.18/Add.2  
 
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  Slovak  Republic  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
The Export -Import bank of the Slovak Republic (EXIMBANKA SR) covers support for export of the 
agricultural products within its portfolio of financing and insurance services in compliance with 
international regulations for export credits of EU, OECD and WTO, with maximum repayment term 
not exceeding 18 months.  
2. Description of Export Financing Entity  
EXIMBANKA SR is an official Export – Credit Agency of the Slovak Republic and the only direct 
instrument of the state for official support of export, providing banking and insurance services.  
3. Total value of export of agricultural products covered by export credits, export  credit 
guarantees or insurance program mes and use per  programme  
The figures of programmes used per agricultural products are not recorded separately. Provided data 
are separated from overall dataset and selectively filtered by sector.  
Total value of expor ts (in million EUR) : 
2017: 27.6  
2018: 18.4  
2019: 28.34  
2020: 36.14  
2021: 10.68  
2022: 35.53  
4. Annual average premium rate s/fees per program me 
Annual average premium rate/fee of programmes  used per agricultural products are not recorded 
separately. Provided data are separated from overall dataset, and selectively filtered by sector.   
Avg. premium rate: N/A; range of applied premium rates – 0.24% - 0.9%. 
5. Maximum repayment term s per program me 
EXIMBANKA SR covers support for export of the agricultural products within its portfolio of financing 
and insurance services in compliance with international regulations for export credits of  EU, OECD 
and WTO, with maximum repayment term not  exceeding 18 months.  
6. Annual average repayment period s per program me 
Annual average repayment period figures of program mes used per agricultural products are not 
recorded separately. Provided data are separated from overall dataset and selectively filtered by 
sector.  
2017: 14 months  
2018: 12 months  
2019: 12 months  
2020: 13 months  
2021: 15 months  
2022: 15 months  G/AG/W/125/Rev.18/Add.2  
 
- 50 - 
 
  7. Export d estination or group of destinations per program me 
- Financing: Romania, Italy, Netherlands, Czech Republic.  
- Insurance cover: Albania , Czech Republic, Finland, Germany, Greece , Hungary, Italy, Lithuania , 
Netherlands, Poland, Romania, Serbia, Spain, Sweden, Ukraine.  
8. Program me use by product or product group  
Dairy products, cereals and cereal products, beverages, edible products and various food products, 
animal feed, seeds, straw.  
9. Does national legislation impose for programmes concerning agricu ltural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative provision and provide a link if available  
Not applicable.  G/AG/W/125/Rev.18/Add.2  
 
- 51 - 
 
  Slovenia  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
No specific supporting program mes/schemes for export of agricul tural products to third countries.  
 
SID Bank's offer of general export financing schemes does not include any special program mes for 
direct financing of exports of agricultural products to third countries.  
 
Relevant legislation:  
 
Act Governing Insurance an d Financing of International Commercial Transactions, OJ RS No. 2/04, 
56/08 – ZSIRB and 82/15.  
 
Slovenian Export and Development Bank Act, OJ RS No. 56/08, 20/09, 25/15 -ZBan-2 in 61/20 -
ZDLGPE.  
2. Description of Export Financing Entity  
SID Bank Inc., Ljublj ana operates as export -credit bank and as authorized Slovene export -credit 
agency (ECA), which provides non -marketable insurance on behalf and for the account of the 
Republic of Slovenia.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
2022: EUR 0.00. 
4. Annual average premium rate s/fees per programme  
/. 
5. Maximum repayment term s per programm e 
/. 
6. Annual average repayment period s per programme  
/. 
7. Export destination or group of destinations per programme  
/. 
8. Programme use by product or product group  
/. 
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative provision and provide a link if available  
Not applicable.  G/AG/W/125/Rev.18/Add.2  
 
- 52 - 
 
  Spain  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
No specific agriculture program or product. Loans under Linea ICO Exportadores are provided as 
second floor invoice discount working capital finance through financial institutions to all sectors under 
market conditions in conformity with the terms and conditions set out in the Nairobi Ministerial 
Declaration on Expor t Competition (WT/MIN(15)/45 — WT/L/980).  
Ley 10/2014, de Ordenaci ón, Supervisi ón y Solvencia de las Entidades de Cr édito. 
General program mes (non -agriculture specific) for export credit insurance.  
A limited volume of agricultural products is covered u nder the General program me. Agricultural 
products are usually covered by the private market . 
CESCE 's state account business is regulated, nationally, by the following:  
- Law 8/2014, 22nd April; 
- RD 1006/2014, 8th December ; 
- Agency agreement, March 2015 . 
2. Description of Export Financing Entity  
ICO is not an export financing entity. ICO is a public owned credit institution with its own legal 
personality, assets and treasury, acting with management autonomy, subject to the financial 
regulation of EU credit in stitutions and to the supervisory and control regulations of the Banco de 
España, subject to the principles of financial equilibrium, carrying out its banking activity under 
market conditions, raising its resources on the national and international capital  and financial 
markets, without obtaining any resources from the General Government Budget.   
CESCE (Spanish Export Credit Agency).  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
No specific agriculture program or product. Loans under Linea ICO Exportadores have been provided 
as second floor invoice discount through financial institutions to all sectors under market conditions 
to provide working cap ital finance for commercial activities of companies.   
Credit insurance:  EUR 5.1 million in 202 2. 
4. Annual average premium rates/fees per programme  
Not applicable for export credits, established by financial entities under market conditions.  
In CESCE, we do not have a flat price for these transactions. Premiums are provided in the insurance 
contracts and depend on the rating of the destination country, the risk profile of the foreign buyer, 
amount of the guarantee and the due date of deferred payments. The y are negotiated with individual 
exporter according to insurance cover provided.  
5. Maximum repayment terms per programme  
Export credits: 180 days.  
 
Credit insurance: maximum repayment term cannot exceed 540 days.  
6. Annual average repayment period per programme  
Export credits: 133 days, established by financial entities under market conditions.  
Credit insurance: 90 days  Credit insurance: 90 days . G/AG/W/125/Rev.18/Add.2  
 
- 53 - 
 
  7. Export destination or group of destinations per programme  
Export credits: depending on market conditions  according to demand of credit received by financial 
institutions, mostly concentrated on European countries.  
Credit insurance: Pakistan, Cameroon, Jordan, Algeria,  Egypt, Türkiye.  
8. Programme use by product or product group  
Export credits: depending on market conditions according to demand of credit received by financial 
institutions mainly in sectors such as manufacturing, chemicals, textiles, fashion or ICT.  
Credit insurance: cereals , live animals, green peas, chocolates, fruits and vegetables, animal feed, 
raw hides and skins (other than fur skins) and leather.  
9. Does national legislation impose for programmes concerning agricultural products, a 
maximum repayment term of 18 months as  required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
No. 
10. Specify the legislative provision and provide a link if available  
Not applicable.  
 G/AG/W/125/Rev.18/Add.2  
 
- 54 - 
 
  Sweden  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
Risk Cover (Guarantee for Trade Receivables and Letter of Credit Guarantee) . 
2. Description of Export Financing Entity  
EKN (The Swedish Export Credits Guarantee Board)  is a state agency operating under the Ministry 
for Foreign Affairs.  http://www.ekn.se.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
SEK 18.5 million in 2022. 
4. Annual average premium rate s/fees per programme  
Approximately 2.10% in 2022. 
5. Maximum repayment term s per programme  
180 days . 
6. Annual average repayment period s per programme  
Approximately 100 days in 2022. 
7. Export destination or group of destinations per programme  
Chile; China; Kuwait, the State of ; North Macedonia; Russian Federation; and United Kingdom.  
8. Programme  use by product or product group  
Squeeze bags for babies (SEK 2.244 million); mineral water, soft drinks, juice and cider 
(SEK 0.159  million); food additives (flavouring, nutritional additives, mayo stabilisers, emulsifiers 
and fat powder) (SEK 7.768 milli on); dry mix sauces and soups (SEK 6.355 million); readymade 
soups (SEK 0.206 million); beer and spirits (SEK 1.007 million); powdered eggs (SEK 0.137 million); 
vitamins and minerals (SEK 0.619 million) . 
9. Does national legislation impose for programmes c oncerning agricultural products, a 
maximum repayment term of 18 months as required by § 15(a) of WTO Ministerial 
Decision WT/MIN(15)/45 of 19/12/15?  
Yes. 
10. Specify the legislative provision and provide a link if available  
Ordinance (2007:1217) with instr uctions for the Swedish Export Credit Guarantee Board, Section  2, 
paragraph 9 . G/AG/W/125/Rev.18/Add.2  
 
- 55 - 
 
  Hong Kong, China  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
Hong Kong Export Credit Insurance Corporation (HKECIC), established under the Hong  Kong Export 
Credit Insurance Corporation Ordinance (Cap. 1115), provides exporte rs of HKC  with insurance 
protection against non -payment risks arising from commercial and political events.   
2. Description of Export Financing Entity  
Pursuant to Section 9(4) of Cap. 1115, HKECIC is required to pursue a policy directed towards 
securing re venue sufficient to meet all expenditure properly chargeable to its revenue account. 
HKECIC operates on a commercial and self -financing basis. HKECIC takes on risks on merit grounds 
and charges its policyholders risk -based premiums. The Government does not  provide any recurrent 
subvention to HKECIC and there is no influence from the Government in HKECIC 's risk underwriting 
activities.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programme s and use per programme  
Financial year ending 31 March 2022: HKD 94 million . 
4. Annual average premium rates/fees per programme  
Insurance premium is based on shipment value which is varied depending on the importing 
economies and payment terms of the trans action.  For the financial year ending 31 March 2022, the 
annual average premium rate involving agricultural products is 0.37%. 
5. Maximum repayment terms per programme  
For the financial year ending 31 March 2022, the maximum credit period for export credit insurance 
policies involving agricultural products is 180 days.  
6. Annual average repayment periods per programme  
For the financial year ending 31 March 2022, the typical credit period for export credit insurance 
policies involving agricultural prod ucts is 90 days or shorter.  
7. Export destination or group of destinations per programme  
Major destinations were Asia, Europe, and North America.  
8. Programme use by product or product group  
The demand for insurance in the agricultural sector is negligible. Major products included sugar 
confectionery, wine, food seasonings and pasta, etc.  G/AG/W/125/Rev.18/Add.2  
 
- 56 - 
 
  India  
I. Export Import Bank of India (India EXIM Bank)  
 
1. Description of the program me (classification within the following categories: direct 
financing suppor t, risk cover, government to government Credit agreements or any other 
form of governmental export Credit support) and relevant legislation  
 
Pre-Shipment credit is provided in Indian and foreign currency to support the company with 
appropriate access to fi nance at the manufacturing stage. Such credit facilities enable exporters to 
purchase raw materials and other inputs, and enables provision of Rupee/FC mobilization expenses 
for construction/turnkey projects. EXIM bank also provides foreign currency pre -shipment credit 
facility to import raw materials and other inputs for export production. Post -shipment credit finances 
the export bill after shipments have been made. This facility enables Indian exporters to extend term 
credit to importers at the post -shipm ent stage. EXIM bank extends such facilities individually or may 
even collaborate with a commercial bank on a case -to-case basis.  
 
2. Description  of Export Financing Entity  
 
Export -Import Bank of India (India EXIM Bank) was set up as an apex institution in 1982 and has 
since been providing financial assistance to exporters and importers and facilitating overseas 
investments with a view to promoting the India 's international trade and earn foreign exchange.  
 
3. Total value of export of agricult ural products covered by export Credits, export Credit 
guarantees or insurance program mes and use per program me 
 
4. Annual average premium rates/fees per programme  
5. Maximum repayment terms per programme  
6. Annual average repayment periods per programme  
7. Export destination or group of destinations per programme  
8. Program me use by product or product group  
 
During 20 19-2020, Export - Import Bank of India (India EXIM Bank) has not provided governmental 
export credit support for the products enlisted in Anne x 1 of Agreement on Agriculture.  
 
II. Export Credit Guarantee Corporation of India (ECGC Limited)  
 
1. Description  of the programme  (classification within the following categories: direct 
financing  support, risk cover, government to government Credit agreements or any other 
form of governmental export Credit support) and relevant legislation  
 
ECGC Ltd. provides credit risk insurance covers to exporters against the risk of non -payment or non-
acceptance of goods exported to overseas buyers. The export credit insurance covers for export of 
agriculture products are covered only under short term schemes (ST).  
 
2. Description of Export Financing Entity  
 
ECGC Limited was set up in 1957 under the  Companies Act 1956, to provide export credit insurance 
services to exporters and banks to promote and support exports from India. It is a Central Public 
Sector Enterprise (CPSE) under the administrative control of Department of Commerce, Ministry of 
Comme rce & Industry, Government of India. The Company is regulated by the guidelines specified 
by the Insurance Regulatory and Development Authority of India (IRDAI) for the insurance business 
in India.  
 
3. Total value of export of agricultural products covered  by export Credits, export Credit 
guarantees or insurance programme s and use per programme  
4. Annual average premium rates/fees per programme  
5. Maximum repayment terms per programme  
6. Annual average repayment periods per programme  
7. Export destination or group of destinations per programme   
  G/AG/W/125/Rev.18/Add.2  
 
- 57 - 1. Programme  use by product or product group  
Name of the 
Programme  Total value of Export of 
Agricultural products  
in 2019 -20 
(USD)  Annual average  
premium  
rates/fees  Maximum  
Repayment  
Term  Annual Average 
Repayment  
Period  Export Destination  Product/Product Group  
Credit Risk  
Insurance cover  4,070 million*  19 paise per INR  100* 
(i.e. 0.19%)  Up to 1 year  Up to 1 year  United States of America;  
United  Arab Emirates;  
United Kingdom; Germany;  
China; Italy; France; Singapore;  
Hong Kong, China;  
Netherlands  Cotton, other Agriculture  
and allied products  
* Exchange rate for 2019 -2020: INR 70,897/USD ( annual average, Source: RBI).  
 
 
 G/AG/W/125/Rev.18/Add.2  
 
- 58 - 
 
  Indonesia  
A. Indonesia EximBank  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government  credit agreements or any other 
form of governmental export credit support) and r elevant legislation  
 
Indonesia Eximbank 's programme comprises of:  
 
a. Financing  
 
Demand Side (Buyer)  Supply Side (Seller/ Exporter)  
• Buyer 's Credit  
• Overseas  Investment  Financing  • Working Capital Financing  
• Investment Financing  
• Project Financing  
 
The financing may be carried out based Conventional as well as Sharia Principles.  
 
b. Risk Cover: Guarantee & Insurance  
 
• Guarantees provided to Indonesia exporters, overseas importers and tenders related to project 
performance. Line of products: project guaran tee, custom guarantee, credit guarantee.  
• Insuran ce facilities:  
Line of products: overseas investment insurance, export insurance, buyer 's default payment risk, 
political risk insurance.  
c. Other Form of Governmental Export Credit Support  
 
• National Interest Account:  
Special  assignment by the Government to support the national export programme  for the cost of 
the government and the risk is assumed by Indonesian Government (National Interest Account).  
• Advisory Services:  
Advisory services by coaching and advisory services to banks, financial institutions, exporters 
manufacturers  of export goods, especially small - and medium -sized enterprises and cooperatives.  
Relevant legislations: Act No.  2 Year  2009 and Regulation of the Minister of 
Finance  134/PMK.08/2015.  
2. Description of Export Financing Entity  
 
Indonesia Eximbank (IEB ) is a financial institution wholly owned  by the Government of the Republic 
of Indonesia that was established pursuant to the Act No.  2 Year 2009 to perform the National Exp ort 
Financing (PEN). Indonesia Eximbank 's mandate is to support national export programme through 
national export financing. National Export Financing is a facility provided for any enterprises as well 
as any individuals for the purpose to boost the nation al export.  
 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 
Type of Facility  2018  2017  
Working Capital  2,567,003  17.2%  2,453,684  15.5%  
Investment  12,330,072  82.5%  13,296,879  84.2%  
Acceptance Receivable  42,852  0.3%  42,831  0.3%  
Insurance & Guarantee  0 0.0%  0 0.0%  
Total for Agricultural Sector  14,939,927  100.0%  15,793,394  100.0%  
Note:  value in million IDR.  G/AG/W/125/Rev.18/Add.2  
 
- 59 - 
 
  4. Annual average premium rates/fees per programme  
 
We do not have specific programme for agricultural sector. Eximbank does not use specific interest 
rates for lending and export financing. The rates  are based on analysis on customer 's financial 
statement, feasibility stud y of the project, and its collateral amount is adjusted based on business 
cash flow (risk -based approach).  
5. Maximum repayment terms per programme  
 
Not applicable. We do not have specific programme for agricultural sector.  
For financing facilities, the te nor will be categorized as follow:  
- Short term tenor: ≤ 1 year ; 
- Medium term tenor: 1 – 5 year s; 
- Long term tenor: > 5 year s. 
6. Annual average repayment periods per programme  
 
Not applicable. We do not have specific programme for agricultural sector.  On average, repayment 
for interest will be charge on monthly basis.  
7. Export destination or group of destinations per programme  
 
Indonesia Eximbank 's main export destination are as follow: ASEAN Countries, Japan, U nited States 
of America , China, Europe, South Korea, India, and others.  
8. Programme use by product or product group  
 
Please see the list below : 
HS Indonesia Eximbank 's Client Export Commodity as of 2016  Export Value 
(USD)  
02 Meat and edible meat offal  2,724,034  
05 Products of animal origin  not elsewhere specified or included  7,605  
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental 
foliage  3,090,105  
07 Edible vegetables and certain roots and tubers  1,905,379  
08 Edible fruit and nuts; peel of citrus fruit or melons  1,457,796  
09 Coffee, tea, mate and spices  50,164,773  
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruit; industrial or 
medicinal plants; straw and fodder  2,656,579  
13 Lac; gums, resins and other vegetable saps and extracts  7,064,838  
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included  2,637,587  
15 Animal or vegetable fats and oils and their cleavage products; prepared edible fats; 
animal or vegetable waxes  46,883,350  
16 Preparations of meat, of fish or of crustaceans, molluscas  or other aquatic 
invertebrates  100,992,268  
18 Cocoa and cocoa preparations  28,856,768  
19 Preparations of cereals, flour, starch or milk; pastrycooks ' products  3,977,975  
20 Preparations of vegetables, fruit, nuts or other parts of plants  3,010  
21 Miscellaneous edible preparations  10,357,347  
22 Beverages, spirits and vinegar  169,724  
23 Residues and waste from the food industries; prepared animal fodder  15,314,924  
Total  278,264,062  
 
B. Asuransi Ekspor Indonesia, Ltd (ASEI)  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government  credit agreements or any other 
form of governmental export credit support) and relevant legislation  
 
Risk Cover: Export Insurance ( Export Credit Insurance , Export Bill Insurance, Domestic Credit 
Insurance, Domestic Credit Insurance Financing), Credit Insurance and Guarantee, Suretyship, 
Property Insurance, Engineering Insurance, Marine Cargo Insurance, Hull an d Machinery Insurance, 
Liability Insurance, Miscellaneous Insurance . G/AG/W/125/Rev.18/Add.2  
 
- 60 - 
 
  Legislation: Government Regulation No. 20 of 1983 . 
 
2. Description of Export Financing Entity  
 
Asuransi Asei Indonesia, Ltd (previously registered as Asuransi Ekspor Indonesia, Ltd - ASEI) is a 
company that provides Export Credit Insurance (ECI) services which offer an insurance for the risks 
of unpaid, either part or in total of the export bills between Indonesian exporters and foreign 
importers (buyers).  
 
3. Total value of export of agri cultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 
Not applicable.  
 
4. Annual average premium rates/fees per programme  
 
 2015  2016  2017  
Export Insurance  26,645  22,490  22,419  
Credit Insurance and Guarantee  65,712  41,657  93,691  
Suretyship  22,857  34,363  37,807  
General Insurance  531,204  338,862  194,690  
Note:  for all products (in million IDR) . 
5. Maximum repayment terms per programme  
 
Not applicable.  
 
6. Annual average repayment periods per programme  
 
Not applicable.  
 
7. Export destination or group of destinations per programme  
 
Not applicable.  
 
8. Programme use by product or product group  
 
Not applicable.  G/AG/W/125/Rev.18/Add.2  
 
- 61 - 
 
  Jamaica  
Role and Function of the National Export Import Bank of Jamaica (EXIM Bank)  
The National Export Import Bank of Jamaica (EXIM Bank) is the first EXIM Bank established in the 
Caribbean.  It plays a fundamental role in national development by providing a wide range of 
financing instruments at competitive interes t rates to the  productive sector, including exporters, 
potential exporters and direct suppliers of goods and services to the exporting industry.  
Specific focus is placed on SMEs involved in non -traditional exports  such as Tourism, Manufacturing, 
Agro Proc essing, Mining, the Service Industry, Communication and Technology and the  Creative 
Industry.  
EXIM's suite of trade financing facilities include  Lines of Credit , short and medium term loans, 
denominated in both US and Jamaica dollars, Discounting Faciliti es and Trade Credit Insurance.   
1. Description of the programmes (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
Direct Financing Support : The EXIM Bank offers trade financing through its Insurance Policy 
Discounting Facility (IPDF). Policyholders under the Trade Credit Insurance scheme can access 80% 
financing on goods insured, by assigning the insurance policy as collateral support. Funds are 
available for a period of 120 days at an interest rate of 12% per annum.  
Risk Cover : Risks covered under the TCI due to non -payment by the overseas buyers, include 
protracted default or insolvency/bankruptc y of the buyer.  
2. Description of Export Financing Entity:  
The National Export Import Bank of Jamaica offers both trade financing and trade credit insurance 
to local agricultural producers.  
3. Total value of export of agricultural products covered in the p ast 12 months:  
• Insurance JMD  36.0 million.  
• Financing JMD  16.0 million.  
4. Maximum Average premium rate is JMD  0.60 per JMD  100.00 worth of produce sold.  
5. Maximum  Repayment  Terms:  Maximum repayment period for trade financing is 120 days.  
6. Annual Average Repayment Period  is 120 days.  
7. Export Destination:  Goods are shipped to the United States of America (USA).  
8. Programme use by Product:  The products utilized are the Trade Credit Insurance which acts 
as collateral for the financing provided under the Insurance Policy Discounting Facility.  G/AG/W/125/Rev.18/Add.2  
 
- 62 - 
 
  Japan  
1. Description of the programme (classification within the following categories: direct 
financi ng support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
Export Bill Insurance  http://nexi.go.jp/en/pr oducts/typ es/bill.html  
Export Credit Insurance for SMEs  and AFF Sector  http://nexi.go.jp/en/products/types/smes.html   
Export Credit Insurance  http://nexi.go.jp/en/products/types/export.html  
These programmes  are all categorized as risk cover.  
Relevant legislation: Trade Insurance and Investment Act . 
2. Description of Export Financing Entity  
Nippon Export and Investment Insurance (NEXI) . 
  
  G/AG/W/125/Rev.18/Add.2  
 
- 63 - 3. Total value of export of agricultural products covered by export credits, export credit guarantees or insurance programmes an d use 
per programme  
Underwritten amount by export of agricultu ral products ( FY1995 - FY2022) (Unit:  Japanese Yen ) 
Type of Insurance  Fiscal Year (April -March)  1995  1996  1997  1998  1999  2000  
Export Bill Insurance  Number of underwritten  321 308 362 443 448 446 
Value of export of agricultural products  1,085,881,367  1,042,748,562  1,142,927,061  1,450,225,958  1,566,587,196  1,696,053,307  
Export Credit Insurance for SMEs  Number of underwritten  - - - - - - 
Value of export of agricultural products  - - - - - - 
Export Credit Insurance  Number of underwritten  212 232 228 227 240 262 
Value of export of agricultural products  506,520,804  509,688,831  1,272,800,330  705,536,977  686,490,394  608,012,858  
Total/Number of underwritten  533 540 590 670 688 708 
Total/Value of export of agricultural products  1,592,402,171  1,552,437,393  2,415,727,391  2,155,762,935  2,253,077,590  2,304,066,165  
 
Type of Insurance  Fiscal Year (April -March)  2001  2002  2003  2004  2005  2006  
Export Bill Insurance  Number of underwritten  506 512 269 275 305 303 
Value of export of agricultural products  1,794,343,201  2,040,406,324  1,100,720,060  1,086,485,744  1,278,993,110  1,304,361,795  
Export Credit Insurance for SMEs  Number of underwritten  - - - - 3 11 
Value of export of agricultural products  - - - - 1,544,438  23,104,267  
Export Credit Insurance  Number of underwritten  278 399 859 894 979 1,390  
Value of export of agricultural products  856,076,236  1,159,091,855  2,777,147,521  3,015,634,350  3,566,864,514  5,631,100,931  
Total/Number of underwritten  911 784 1,128  1,169  1,287  1,704  
Total/Value of export of agricultural products  3,199,498,179  2,650,419,437  3,877,867,581  4,102,120,094  4,847,402,062  6,958,566,993  
 
Type of Insurance  Fiscal Year (April -March)  2007  2008  2009  2010  2011  2012  
Export Bill Insurance  Number of underwritten  316 286 289 285 258 245 
Value of export of agricultural products  1,440,843,995  1,386,365,204  1,494,431,569  1,533,160,563  1,371,128,078  1,249,134,341  
Export Credit Insurance for SMEs  Number of underwritten  19 25 29 30 34 28 
Value of export of agricultural products  33,981,051  40,105,262  46,571,107  69,908,572  84,273,412  81,453,513  
Export Credit Insurance  Number of underwritten  1,679  1,796  1,628  1,658  2,147  1,841  
Value of export of agricultural products  7,724,731,451  8,650,973,770  7,204,222,570  7,567,224,087  11,779,552,689  9,815,051,676  
Total/Number of underwritten  1,946  2,014  2,107  1,973  2,439  2,114  
Total/Value of export of agricultural products  8,745,225,246  9,199,556,497  10,077,444,236  9,170,293,222  13,234,954,179  11,145,639,530  
 
Type of Insurance  Fiscal Year  (April -March)  2013  2014  2015  2016  2017  2018  
Export Bill Insurance  Number of underwritten  238 232 225 274 255 207 
Value of export of agricultural products  1,318,254,661  1,255,783,299  1,278,846,217  1,578,407,381  1,597,238,475  1,319,687,997  
Export  Credit  Insurance  for SMEs  Number of underwritten  85 132 183 252 309 352 
Value of export of agricultural products  412,271,273  608,710,785  971,445,893  1,077,496,761  1,224,213,780  1,700,812,049  
Export Credit Insurance  Number of underwritten  1,877  1,200  1,338  1,406  1,425  1,437  
Value of export of agricultural products  7,391,450,279  4,925,123,109  5,968,641,523  6,281,829,038  6,554,707,595  6,655,373,108  
Total/Number of underwritten  1,932  2,200  1,564  1,746  1,989  1,996  
Total/Value of export of agricultural products  8,937,733,180  9,121,976,213  6,789,617,193  8,218,933,633  9,376,159,850  9,675,873,154  
  
  G/AG/W/125/Rev.18/Add.2  
 
- 64 - Type of Insurance  Fiscal Year  (April -March)  2019  2020  2021  2022  Total  Average  
(1995 -2022 ) 
Export Bill Insurance  Number of underwritten  208 191 161 145 8,313  - 
Value of export of agricultural products  1,319,050,393  1,432,264,136  1,400,080,839  8,129,539  290,522,691  10,375,810  
Export  Credit  Insurance  for SMEs  Number of underwritten  540 606 546 468 3,652  - 
Value of export of agricultural products  2,323,646,034  2,763,170,860  3,065,780,736  18,454,949  120,963,954  6,720,220  
Export Credit Insurance  Number of underwritten  1,571  1,514  1,843  1,840  32,400  - 
Value of export of agricultural products  7,249,721,926  7,221,543,748  10,126,609,832  22,653,011  286,171,370  10,220,406  
Total/Number of underwritten  2,319  2,311  2,550  2,453  44,365   
Total/Value of export of agricultural products  10,892,418,353  11,416,978,744  14,592,471,407  49,237,499  697,658,015  24,916,358  
Note: The total export value of agricultural products subject to the programmes is not available.  
4. Annual average premium rates/fees per programme  
Annual average premium fees in FY1995 to FY2022 are: 
10,376 thousand yen (Export Bill Insurance) ; 
6,720 thousand yen (Export Credit Insurance for SMEs and AFF Sector) ; 
10,220  thousand yen (Export Credit Insurance) . 
Annual Average Premium fees by export of agricultural pr oducts (FY1995  - FY2022) (Unit: Japanese Yen)  
Type of Insurance  Fiscal Year (April -March)  1995  1996  1997  1998  1999  2000  
Export Bill Insurance  Number of underwritten  321 308 362 443 448 446 
Premium fees  15,489,053  12,176,622  11,199,676  8,811,676  12,594,458  13,092,872  
Export Credit Insurance for SMEs  Number of underwritten  － － － － － － 
Premium fees  － － － － － － 
Export Credit Insurance  Number of underwritten  212 232 228 227 240 262 
Premium fees  563,411  510,038  1,156,755  1,078,629  863,158  785,567  
Total/Number of underwritten  533 540 590 670 688 708 
Total/Premium fees  16,052,464  12,686,660  12,356,431  9,890,305  13,457,616  13,878,439  
 
Type of Insurance  Fiscal Year (April -March)  2001  2002  2003  2004  2005  2006  
Export Bill Insurance  Number of underwritten  506 512 269 275 305 303 
Premium fees  13,375,315  14,523,671  8,066,932  7,757,395  9,649,569  9,741,880  
Export Credit Insurance for SMEs  Number of underwritten  － － － － 3 11 
Premium fees  － － － － 20,512  228,403  
Export Credit Insurance  Number of underwritten  278 399 859 894 979 1,390  
Premium fees  1,069,613  1,180,647  3,239,402  4,650,414  5,359,218  8,633,804  
Total/Number of underwritten  911 784 1,128  1,169  1,287  1,704  
Total/Premium fees  15,704,318  14,444,928  11,306,334  12,407,809  15,029,299  18,604,087  
  
  G/AG/W/125/Rev.18/Add.2  
 
- 65 - Type of Insurance  Fiscal Year (April -March)  2007  2008  2009  2010  2011  2012  
Export Bill Insurance  Number of underwritten  316 286 289 285 258 245 
Premium fees  10,537,726  10,166,721  10,085,091  11,068,910  10,020,948  9,365,344  
Export Credit Insurance for SMEs  Number of underwritten  19 25 29 30 34 28 
Premium fees  314,271  427,644  524,201  830,562  1,038,505  617,856  
Export Credit Insurance  Number of underwritten  1,679  1,796  1,628  1,658  2,147  1,841  
Premium fees  11,992,148  13,186,454  11,576,324  15,826,636  30,554,307  20,057,492  
Total/Number of underwritten  1,946  2,014  2,107  1,973  2,439  2,114  
Total/Premium fees   22,185,616  22,844,145  23,780,819  27,726,108  41,613,760  30,040,692  
 
Type of Insurance  Fiscal Year (April -March)  2013  2014  2015  2016  2017  2018  
Export Bill Insurance  Number of underwritten  238 232 225 274 255 207 
Premium fees  10,013,730  8,462,076  8,787,566  9,948,378  10,293,679  8,989,042  
Export Credit Insurance for SMEs  Number of underwritten  85 132 183 252 309 352 
Premium fees  2,633,245  4,076,187  7,176,241  7,717,971  8,749,411  11,368,000  
Export Credit Insurance  Number of underwritten  1,877  1,200  1,044  1,406  1,425  1,437  
Premium fees  14,068,656  11,139,435  9,523,615  13,506,069  17,602,930  17,385,894  
Total/Number of underwritten  1,932  2,200  1,564  1,452  1,989  1,996  
Total/Premium fees   31,172,418  26,715,631  23,677,698  25,487,422  36,646,020  37,742,936  
 
Type of Insurance  Fiscal Year (April -March)  2019  2020  2021  2022  Total  Average  
(1995 -2022) 
Export Bill Insurance  Number of underwritten  208 191 161 145 8,313   
Premium fees  8,742,192  9,696,655  9,735,975  8,129,539  290,522,691  10,375,810  
Export Credit Insurance for SMEs  Number of underwritten  540 606 546 468 3,652   
Premium fees  15,239,524  20,197,688  21,348,784  18,454,949  120,963,954  6,720,220  
Export Credit Insurance  Number of underwritten  1,571  1,514  1,843  1,840  32,400   
Premium fees  15,153,265  13,176,456  19,678,022  22,653,011  286,171,370  10,220,406  
Total/Number of underwritten  2,319  2,311  2,550  2,453  44,365   
Total/Premium fees   39,134,981  43,070,799  50,762,781  49,237,499  697,658,015  24,916,358  
 
Average premium rates are not available.  
5. Maximum repayment terms per programme  
Regarding targeted transactions, the relevant policy had been amended at the end of 2017 to follow the Nairobi Ministerial Decision. (The maximum payment 
terms shall be no more than 18 months .) 
6. Annual average repayment periods per programme  
Not available.   
  G/AG/W/125/Rev.18/Add.2  
 
- 66 - 7. Export destination or group of destinations per program me 
Type of Insurance  Export destination or group of destinations (FY1995 - FY2022)  
Export Bill Insurance  Australia; Belgium; Brazil; Canada; Chile; China; Colombia; Commonwealth of the Northern Mariana Islands  (USA); Croatia; 
Denmark; Egypt; Finland; France; Germany; Greece; Guam  (USA); Hong Kong, China; I ndia; Indonesia; Ireland; Israel; Italy; Korea, 
Republic of; Malaysia; Marshall Islands; Mexico; Monaco; Netherlands; New Zealand; Pakistan; Palau; Philippines; Poland; Saud i 
Arabia, Kingdom of; Singapore; South Africa; Spain; Sweden; Switzerland; Chinese Taipei; Thailand; United Kingdom; United States 
of America  
Export Credit Insurance for SMEs  Australia; Bahrain,  Kingdom of; Brazil; Canada; Chile; China; Denmark; Ecuador; Egypt; France; French Polynesia ; Germany; Guam; 
Hong Kong , China ; India; Indonesia ; Israel; Italy; Korea , Republic of ; Kuwait , the State of ; Latvia; Lebanon; Luxemburg; Maca o, 
China ; Malaysia; Mongolia; Myanmar; Netherlands; New Zealand; Pakistan; Philip pines; Romania; Russia n Federation ; Saudi Arabia , 
Kingdom of ; Spain; Singapore; Sri Lanka; Switzerland; Chinese Taipei; Thailand;  Türkiye ; United Arab Emirates ; United Kingdom ; 
Ukraine; United States of America ; Viet Nam  
Export Credit Insurance  Argentine; Australia; Azerbaijan; Bahrain , Kingdom of ; Belgium; Bolivia , Plurinational State of ; Brazil; Cambodia; Canada; Ceuta  
(Spain); China; Columbia; Czech  Republic ; Denmark; Ecuador; Egypt; Finland; France; Germany; Hong Kong , China ; Hungary; 
India; Indonesia; Iran; Ireland; Israel; Italy; Jordan; Korea , Republic of ; Kuwa it; Latvia; Lebanon; Maca o, China ; Malaysia; Mauritius; 
Mexico; Mongolia;  Morocco; Nepal; Netherlands; New Caledonia  (French); New Zealand; Nigeria; Norway; Oman; Pakistan; Peru; 
Philippines; Poland; Portugal; Qatar; Romania; Russia n Federation ; Saudi Arab ia, Kingdom of ; Singapore; Slovenia; South Africa; 
Spain; Sri Lanka; Sweden; Switzerland; Syria; Chinese Taipei; Thailand;  Türkiye ; United Arab Emirates ; United Kingdom ; United 
States of America ; Viet Nam; Ukraine  
 
 
8. Program me use by product or product group  
Type of Insurance  HS codes of Products or Product groups (FY1995 - FY202 2) 
Export Bill Insurance  0408, 0506, 0509, 0510, 0602, 0709, 0710, 0711, 0712, 0811, 0902, 0910, 1001, 1006, 1008, 1101, 1103, 1104, 1108, 1201, 1207,  1211, 
1212, 1301, 1302, 1504, 1505, 1514, 1515, 1516, 1517, 1518, 1519, 1521, 1601, 1604, 1605, 1701, 1702, 1703, 1704, 1806, 1901, 1902, 
1904, 1905, 2001, 2003, 2005, 2006, 2008, 2101, 2102, 2103, 2104, 2105, 2106, 2202, 2203, 2205, 2206, 2207, 2208, 2209, 2308, 2309, 
2402, 2905, 3301, 3502, 3504, 3505, 5202  
Export Credit Insurance for SMEs  0101, 0201, 0202, 0203, 0401, 0407, 0508, 0601, 0602, 0603, 0704, 0709, 0710, 0714, 0804, 0805, 0806, 0807, 0808, 0809, 0810,  0811, 
0901, 0902, 1006, 1008, 1101, 1105, 1108, 1208, 1209, 1212, 1302, 1515, 1601, 1602, 1604, 1605, 1701, 1702, 1704, 1806, 1901 , 1902, 
1904, 1905, 2001, 2007, 2008, 2009, 2101, 2103, 2104, 2105, 2106, 2201, 2202, 2203, 2206, 2208, 2209, 2309, 3504  
Export Credit Insurance  0201, 0202, 0203, 0207, 0400, 0401, 0402, 0403, 0404, 0405, 0406, 0407, 0408, 0409, 0505, 0508, 0511, 0603, 0703, 0706, 0708, 0709, 
0710, 0712, 0714, 0802, 0805, 0806, 0807, 0808, 0809, 0810, 0811, 0813, 0901, 0902, 0904, 0909, 0910, 1001, 1003, 1006, 1008, 1101, 
1102, 1104, 1105, 1106, 1108, 1109, 1201, 1202, 1207, 1208, 1209, 1212, 1213, 1214, 1301, 1302, 1404, 1502, 1503, 1504, 1505, 1506, 
1507, 1509, 1514, 1515, 1516, 1517, 1518, 1519, 1520, 1521, 1603, 1604, 1605, 1701, 1702,  1704, 1806, 1901, 1902, 1904, 1905, 2001, 
2004, 2005, 2006, 2007, 2008, 2009, 2101, 2102, 2103, 2104, 2105, 2106, 2201, 2202, 2203 , 2204, 2206, 2207, 2208, 2209, 2301, 2302, 
2304, 2309, 2905, 3301, 3501, 3502, 3503, 3504, 3505, 3809, 5001, 5002, 5003, 5203, 5301  
 
 G/AG/W/125/Rev.18/Add.2  
 
- 67 - 
 
  Kazakhstan  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
The Program, "National Export Strategy," was  approved by the Decree of the Government of the 
Republic of Kazakhstan No. 511 dated 26 August 2017.  
 
Export Insurance Company "KazakhExport" JSC (hereinafter – KazakhExport) is a national 
development institute established to support exports through the i mplementation of insurance tools 
for protecting export operations. KazakhExport does not provide direct financial support to Kazakh 
exporters. KazakhExport financial and insurance products provide financial support to exporters and 
their foreign buyers by placing conditional deposits in second -tier banks - "Pre-export financing of 
the exporter" and "Export Trade Financing."  
 
KazakhExport also provides insurance products to cover against various types of commercial and 
political risks, for example, export cr edit insurance.  
 
Pre-export financing is provided to Kazakh Exporters through Kazakhstan's second -tier banks to 
replenish working capital and fulfill obligations under the export contract.  
 
Export trade finance is provided to foreign companies to purchase Kazakh goods through Kazakh 
second -tier banks within the framework of a letter of credit form of settlements.  
 
Exporter's credit insurance is a tool that allows a Kazakh enterprise to receive protection from the 
risk of non -payment by a foreign counterparty under an export contract that provides for the sale 
of Kazakh goods/services on deferred payment terms.  
 
The export of non -primary goods works and services is subject to state support. Consequently, there 
is no support for the export of agricu ltural raw materials.  
 
Joint-stock company, "Center for the Development of Trade Policy  QazTrade", provides analytical 
and consulting support for exporters to enter foreign markets, promotes participation in foreign 
business missions and exhibitions.  
2. Description of Export Financing Entity  
KazakhExport is the only specialized insurance organization and development institute of the 
Republic of Kazakhstan that performs the functions of an export -credit agency. Since a 2004 an 
official member of the Prague Club and Berne Union, since 2014 a full member of the Association of 
the largest export credit agencies of the Islamic States and the Arab world.  
 
The Sole Shareholder of KazakhExport is JSC National Managing Holding "Baiterek" . The joint -stock 
Company Na tional Managing Holding "Baiterek" was established in accordance with the Decree of 
the President of the Republic of Kazakhstan dated 22  May 2013, No. 571 "On some measures to 
optimize the management system of development institutions, financial organizati ons and the 
development of the national economy" and the Decree of the Government of the Republic of 
Kazakhstan dated 25  May 2013, No. 516 "On measures to implement the Decree of the President of 
the Republic of Kazakhstan dated 22  May 2013, No. 571".  
 
The joint-stock company "Center for the Development of Trade Policy QazTrade" was established in 
accordance with the Decree of the Government of the Republic of Kazakhstan dated 30  June 2006, 
No. 616 "On certain issues of creating the joint -stock company "Cen ter for the Development of Trade 
Policy" and the Decree of the Government of the Republic of Kazakhstan dated 6  September 2019, 
No. 63 "On renaming the joint -stock company "Center for the Development of Trade Policy  QazTrad ". G/AG/W/125/Rev.18/Add.2  
 
- 68 - 
 
  3. Total value of export of ag ricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
In 2020, KazakhExport supported seven projects related directly to the agro -industrial complex. The 
total amount of export contracts for t hese projects is 9.97 billion tenge, of which 2.4 billion are 
covered by loan insurance, 7.57 billion are covered by export credit insurance.  
4. Annual average premium rates/fees per programme  
A different range of tariffs is applied. The tariff rates for w hich insurance contracts are concluded 
are established in accordance with the Policy of setting tariff rates for insurance and reinsurance 
contracts of KazakhExport, which can be found on the official website https://kazakhexport.kz/ . 
5. Maximum repayment terms per programme  
Due to the fact that the provision of direct financial support to exporters is not provided, the 
maximum terms of insurance depend on the loan term set directly by the lender.  
 
Insurance protection is provided to creditors for the entir e term of the loan. The weighted average 
term of insurance protection under concluded insurance contracts in 2020 was 3.21 years.  
6. Annual average repayment periods per programme  
Due to the fact that the provision of direct financial support to exporters is not provided, the 
maximum terms of insurance depend on the loan term set directly by the lender.  
 
Insurance protection is provided to creditors for the entire term of the loan. The weighted average 
term of insurance protection under concluded insurance contracts in 2020 was 3.21 years.  
7. Export destination or group of destinations per programme  
Export countries.  
8. Programme use by product or product group  
There is no statistical accounting of the use of the program by product or group of products since 
the enterprises receiving support may have several different types of products. General support is 
provided for the enterprise.  
 
The programmes do not support the export of agricultural raw materials. In 2020, agricultural 
products belonging  to the category "agro -industrial complex -finished products" were supported, 
which includes "greenhouse cucumbers and tomatoes, seed and stone fruits (apples, pears, 
peaches,  etc.), cattle meat".  
  G/AG/W/125/Rev.18/Add.2  
 
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  Korea, Republic of  
1. Description of the programme (classi fication within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
• Export Credit Guarantees : General programme (non -agriculture specific).  
• Export Insurance Programmes:  
- Short -term export insurance ( agricultural and fishery package , general type, group 
insurance) for the return or disposal of export commodities due to enhanced safety 
standards of the importing country, unc ollectable export bills and exchange rate 
fluctuations . 
- Foreign exchange risk insurance to hedge the currency fluctuation risk for exporters 
(non-agriculture specific) . 
2. Description of Export Financing Entity  
Korea Export Insurance Corporation (KEIC).  
 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
For the Program's purpose of supporting the exports of SMEs comprehensively across the industry, 
information on the export commodities of the enterprises is not collected, so data on total export 
value of agricultural products by program cannot be identified.  
 
4. Annual average premium rates/fees per programme  
Short -term export insurance  
(agricultural  and fishery package)  Number of contracts  151 
Total premiums (KRW)  149,663,250  
Short -term export insurance  
(general type)  Number of contracts  3,900  
Total premiums (KRW)  358,985,590  
Short -term export insurance  
(group insurance)  Number of contracts  59 
Total premiums (KRW)  15,115,930  
Foreign exchange risk insurance  Number of contracts  394 
Total premiums (KRW)  2,201,913,150  
* As of 2022 . 
5. Maximum repayment terms per programme  
Not applicable.  
6. Annual average repayment periods per programme  
Not applicable.  
7. Export destination or group of destinations per programme  
Not applicable.  
8. Programme use by product or product group  
All types of goods (without specification).  G/AG/W/125/Rev.18/Add.2  
 
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  Malaysia  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
Facilities offered by EXIM Malaysi a for Agriculture:  
• Direct Financial Loans:  
i. Cross Border Financing  (The facility provides financial loans to Malaysian 
investors/contractors undertaking project overseas). The bank provides financing based 
on commercial basis (e.g. lending terms based on ma rket rate).  
ii. Trade Finance  (The facility offers Pre -and Post -Shipment Financing at commercial basis).  
• Risk Cover/Credit Insurance. (Export credit insurance /takaful  is offered as a product to 
industries. The bank provides risk cover/credit insurance /takaful  based on commercial basis).  
2. Description of Export Financing Entity  
Export -Import Bank of Malaysia Berhad is a development financial institution wholly owned by 
Government (through Minister of Finance Inc. and under the Central Bank supervision (Develop ment 
Financial Institution Act).  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
For 2019, EXIM Bank has an exposure of RM608 million in direct financing of export from primary 
agriculture industry. Data is on aggregated basis rather than by programme.  
4. Annual average premium rates/fees per programme  
• Credit insurance /takaful  is risk priced based and according to commercial rate.  
• EXIM Bank 's pricing is based on Risk Based Pricing Model (RBPM). Each application is given 
an internal rating based on the Operating Spread + Credit Spread. The Operating Spread 
consist of Cost of Borrowing, Base Rate (LIBOR or KLIBOR), Overhead Cost and Liquidity 
Cost. The Credit Spread is basically the rate EXIM Bank charge based on the obligor 's credit 
rating/standing.  
 
Therefore, the all-in rate that the Bank charges are basically between 5% to 7% for 
USD loans and 6% to 8% for MYR loans.  
 
As for the Bank 's Credit  Insurance/Takaful Product the assessment is based on several 
factors as well such as the exposure country, sales turnover, number of buyers, sum insured 
and others. For Short Term, the premium/wakalah fee ranges between 0.3% to 1% as for 
Medium -Long Term the premium/wakalah fee ranges between 1.2% to 2.5%.  
5. Maximum repayment terms per programme  
Not applicable as there is no subsidy provided by EXIM bank. Facilities offered by EXIM Malaysia are 
based on commercial basis (e.g. lending terms based on market  rate) rather than preferential rate 
due to subsidies, grants or equivalent.  
In carrying the Bank 's lending activities, it sources its funds from the Debt Capital Market and 
bilateral borrowings from various lenders.  
As for Trade Financing, the tenure for Pre-Shipment is up to 120 days and for Post -Shipment is up 
to 180 days. As for Cross Border Financing facilities, the tenure of a loan can go as high as up to 
10 years thus the repayment period commensurate with the tenure of the loan. Nevertheless, for G/AG/W/125/Rev.18/Add.2  
 
- 71 - 
 
  financing of projects, gestation period may be allowed subject to the Cash flow projection by the 
customer.  
6. Annual average repayment periods per programme  
Monthly repayment applies for Export credit, Export credit guarantee and credit insurance.  
The avera ge repayment for Trade Financing is between three  to six months. As for Cross Border 
Financing, the average repayment term is between four to five years.  
7. Export destination or group of destinations per programme  
No specification in relation to destinations per programme.  
Additional Answer : EXIM Bank as at 2019 is exposed to 79 countries across the globe . 
8. Programme use by product or product group  
No programme by product or product group.  
EXIM Bank 's product for Banking is divided into Trade an d Cross Border Financing. As for Credit 
Insurance/Takaful, the product is divided into Short Term and Medium -Long Term. For more detail 
information on the products, please visit : https:// www.exim.com.my/index.php/en/islamic -banking . G/AG/W/125/Rev.18/Add.2  
 
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  New Zealand  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
Pursuant to New Zealand 's Public Finance Act 1989, the New Zealand Export Credit office  (NZEC) 
was established to provide trade credit insurance and financial guarantee products to New  Zealand 
exporting firms or banks. NZEC is New Zealand 's export credit agency. It does not provide direct 
financing.  
With all its programmes, NZEC complies with New Zealand 's international trade obligations and other 
international guidelines as they apply to export credits. As a result, NZEC ensures compliance with 
the Nairobi Decision in respect to export credit support for agricultural products.   
Short Term Trade Credit Insurance covers the risk of a foreign buyer defaulting on their short -term 
repayments du e to specific commercial or political events. NZEC can only provide this product for 
non-marketable risks and/or where private insurers lack the capacity. It also provides co -insurance 
(top-up cover) policies to support the private insurers ' capacity.   
A Loan Guarantee can be provided to an exporter 's bank to enable it to provide additional short -
term or seasonal funding to support an SME exporter 's working capital needs.   
NZEC 's commercial support of agricultural products is predominately via its Short -Term Trade Credit 
Insurance policy.  Under this program the maximum level of commercial and political risk cover 
was 100% (for letters of credit cover) and the lowest was 70% coverage.  
2. Description of Export Financing Entity  
NZEC is New Zealand 's export cred it agency, and is a commercial unit operating within the 
New Zealand Treasury. Its obligations to third parties are guaranteed by the New  Zealand 
government through a Minister of Finance delegation.  The provision of NZEC 's program mes is 
intended to extend and develop the capacity and risk appetite of private providers (insurers and 
banks). NZEC  is required to cover all operating costs (including claims) and break -even over the 
long-term. To meet this requirement, it charges assessment fees and risk -weighted  premiums.   
See https://exportcredit.treasury.govt.nz  for more information.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 2013  2014  2015  2016  2017  2018  2019  2020  2021  2022  
Total annual value of Agricultural 
Exports supported by NZEC  
(in NZD million)  76.4 115.2  30.7 44.5 95 69 115 136 160.7  201.7  
Average Policy Exposure  
(in NZD million)  1.40 1.35 3.24 4.3 4.2 2.8 1.8 1 1.1 0.92 
Average Percentage of cover  80% 85% 90% 92% 96% 95% 90% 89% 89% 89% 
 
4. Annual average premium rates/fees per programme  
NZEC charges risk -weighted premiums sufficient to cover all operating costs (including expected 
losses) only. It does not report on average premium rates given that premium rates can vary 
significantly as they are set using several variables including the buyer 's country risk classifications 
(as set between the Participants to the  Arrangement on Officially Supported Export Credits), the 
credit rating of the debtor, the tenor of the credit term, the terms of the repayment and any risk 
mitigations (i.e. using a letter of credit guarantee).   
However,  NZEC does monitor and measure the adequacy of its premium rates through Loss ratio 
calculations (Total Claims Paid/Total Gross Written Premium). Since 2009, NZEC 's loss ratio on its 
policies issued in support of agricultural products is 6%. This means that for every NZD 1 received 
in premi um, less than 6 cents  has been paid in claims.   G/AG/W/125/Rev.18/Add.2  
 
- 73 - 
 
  5. Maximum repayment terms per programme  
As a general principle, the repayment term should not exceed the useful life of the exported goods 
and services.  In respect to agricultural products, NZEC follows the 2015 Nairobi Ministerial Decision, 
and will not support a repayment term longer than 18 months under any of its program mes. 
The maximum repayment term allowable under NZEC 's Short Term Trade Credit Insurance 
program me is 12 months, and the aver age repayment term during 2022 was 2.2 months . 
The maximum repayment term that has been provided under the Loan Guarantee product for 
agricultural products in 2022 was four months, to support the working capital cycle of a meat 
exporter.   
6. Annual average repayment periods per programme  
 2013  2014  2015  2016  2017  2018  2019  2020  2021  2022  
Annual 
average 
repayment 
periods  3 
months  3  
months  3 
months  2.5 
months  3  
months  3.5  
months  2.5  
months  2.4 
months  2.4 
months  2.3 
months  
 
7. Export destination or group of destinations per programme  
The export destinations of the agricultural products listed below was not exclusive to a geographical 
area and spanned Australia, Europe, Asia, North and Latin America, Pacific, Middle East and 
North  Africa. 
8. Programme use by product or product group  
The agricultural products NZEC supported during the year 2022 included: apples, butter, honey, 
meat, milk powder, pea seeds, wine , wool and yarn . G/AG/W/125/Rev.18/Add.2  
 
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  Paraguay  
Export Credit, Export Credit Guarantees or Insurance Programmes (Export Financing)  
Loan products offered by Government financing institutions to incentivize agricultural and livestock 
production (infrastructure, working capital, inputs, etc.) are set out below. The loans are intended, 
in their enti rety, for medium -sized producers and corporate agriculture firms whose products or 
by-products may be destined for export.  
NATIONAL DEVELOPMENT BANK  https://www.bnf.gov.py/  
Mission : "To promote the country's economic and social development through banking and financial 
services, with priority given to strategic and inclusive development projects".  
Vision : "To be a safe, modern, efficient and innovative bank for national development, which has an 
international reach and is present in the minds and hearts of the Paraguayan people, thereby 
cementing its contribution to financial inclusion in the country" . 
Agricultural, industrial, commercial and service sector investment loans  
 
https://www.bnf.gov.py/prestamos/prestamos -inversiones -sector -agropecuario -comercial -e-
industrial -y-servicios - 
 
Equity in PYG and USD 
 
ELIGIBLE RECIPIENTS  
 
Natural or legal persons who are involved in production in the agricultural, industrial, commercial 
and service  sectors; persons residing in the national territory who propose viable projects and can 
demonstrate their ability to repay the debt with future cash flows derived from the project itself 
and/or supplemented through additional activities.  
Use, term and payment method  
USE TERM  GRACE 
PERIOD  INTEREST PAYMENTS  
Productive investments : 
- Purchase of machinery, implements, accessories  
and equipment . 
 
- Installation and assembly costs for machinery, 
equipment and accessories.  
 
- Infrastructure, construction and facilities and 
improvements thereto.  
 
- Purchase of breeding animals: cows and heifers 
for breeding, breeding bulls . 
 
- Purchase of property for the development of 
productive activities . 
 
- Purchase of heavy cargo and/or transport 
vehicles . 
 
- Other investments in general enabling the 
developme nt of activities in the agricultural, 
livestock, commercial, industrial and service 
sectors, involving the incorporation of capital 
goods . 
 
Expansion and/or modernization projects for 
exporters:  
 
- Purchase of machinery and equipment . Up to 10 years  Up to 2 years  Quarterly  or semi-annual 
or annual (1)  G/AG/W/125/Rev.18/Add.2  
 
- 75 - 
 
  USE TERM  GRACE 
PERIOD  INTEREST PAYMENTS  
 
- Construction of ci vil works . 
 
- Complementary investments required for 
investment projects in the agricultural, industrial, 
commercial and service sectors geared towards 
the production and/or marketing of 
goods/services for export . 
 
- Investment projects under the Maquila R egime . 
 
Livestock projects and other investments : 
 
- Investments in genetic improvement for 
livestock . 
 
- Pasture establishment for livestock production 
systems  (intensive, semi -intensive, extensive and 
silvopastoral) . 
 
- Purchase of utility and/or light cargo vehicles (up 
to 5 tonnes) . 
 
- Countervailing measures for the retention of 
breeding females . Up to  7 years  Up to  1 year  Semi-annual or annual  
- Purchase of feeder livestock  Up to  3 years  Up to  1 year  Semi-annual or annual  
- For goods purchased from the national and 
international exhibitions organized by the Rural 
Association of Paraguay (ARP); the Industrial 
Union of Paraguay (UIP) and/or the Federation of 
Production, Industry and Trade (FEPRINCO) and 
others.  Up to  4 years  -----------  Monthly, quarterly, 
semi-annual or annual  
(1) The method of payment will depend on the generation of income from the activity to be assisted. An 
annual method of payment may be used only in cases where the flow of income comes from perennial 
crops with a single harvest period and/or breeding activit ies in the livestock sector. Where possible, 
for other activities involving a seasonal income, interest shall be paid together with capital. Successive 
monthly payments may be permitted.  
AMOUNT  
• The maximum amount to be financed cannot exceed 80% of the investment project.  
• Up to 100% of the value of the letter(s) of offer(s) or budget(s) to be funded may be financed.  
INTEREST RATE  
 
TERMS  PYG USD 
Up to 5 years (*)  7.95% annually  6.00% annually  
Up to 7 years  8.95% annually  7.00% annually  
Up to 10 years  9.95% annually  8.00% annually  
(*) For this term, adjustments made be made under the unsecured and joint and several liability of the 
firm's key executives and/or shareholders, up to a maximum amount of PYG  4 billion, and up to 
USD 600,000 in foreign  currency.  
INVESTMENT LOANS – FOR EXPORTING ENTERPRISES  
 
https://www.bnf.gov.py/prestamos/prestamos -para-inversiones -para-empresas -exportadoras - 
 G/AG/W/125/Rev.18/Add.2  
 
- 76 - 
 
  ELIGIBLE RECIPIENTS  
 
Natural and/or legal persons  residing in the country who propose viable projects fostering 
economic development, job creation, increased domestic added value of raw materials and export 
growth.  
 
FUNDING LIMIT  
 
• Up to USD 2,000,000 or the equivalent thereof in PYG;  
• Up to 80% of the value of the investment project.  
FUNDABLE PROJECTS  
 
Funding for start -up, expansion and/or modernization projects, through the purchase of machinery 
and equipment, construction of civil works  and complementary investments required for the various 
economic sectors, such as:  
 
• Investment projects in the agricultural, industrial, commercial and service sectors geared towards 
the production of goods and services for export;  
• Investment projects unde r the Maquila Regime . 
LIVESTOCK FUND  http://www.fondogan.gov.py/  
 
http://www.fondogan.gov.py/index.php/tipos -creditos  
 
Mission : To cement the su stainable development of the livestock value chain by financing activities 
that have an impact on the chain, observing best financial practices and prioritizing small and 
medium -sized producers.  
 
Vision : To be the leading financial institution for sustainable development in the livestock value 
chain, with an emphasis on small and medium -sized producers.  
 
Short -term loans:  
 
Fattening  
• Term: 3 years . 
• Repayment: monthly to annual instalments . 
Retention of breeding females  
• Term: 2-3 years . 
• Repayment : annual instalments . 
Working capital  
• Term: up to 3 years . 
• Repayment : monthly to annual instalments . 
Long-term loans:  
 
Purchase of animals for breeding and finishing  
 
Introduction of improvements to fixed assets  
 
Purchase of machinery and implements  
- Term: 4 year s - 5 years - 6 years . 
- Repayment: annual instalments . 
  
  G/AG/W/125/Rev.18/Add.2  
 
- 77 - FINANCING PROGRAMME TO INCREASE HIGH QUALITY LIVESTOCK PRODUCTION  
Order No  1 2 3 4 5 6 7 
Financial 
products  Retention of 
breeding females  Finishing and 
fattening  Breeding  Production inputs 
and working capital  Facilities, 
materials and 
improvements 
to fixed assets  Water and 
irrigation systems  Machinery and 
utility vehicles  
Customers  Livestock producers  
Use Cows and heifers for 
breeding  All categories  Purchase of male 
and female bovine 
animals, sheep, 
goats, horses and 
pigs for breeding  
 
Embryo transfer and 
in vitro  fertilization  Technical instruments  
 
Medicinal products and 
vaccines  
 
Salts, concentrates, 
balanced fee ds and 
other inputs with an 
impact on innovation 
and technology  
 
Semen and 
insemination, flasks 
and other inputs  
 Cattle chutes, 
cattle crushes, 
pens, scales  
 
Wire fencing 
materials and 
construction  
 
Sheds, sheeting 
and other 
improvements to 
fixed assets w ith 
an impact on 
agricultural and 
livestock 
production  Artesian wells  
 
Dams, tanks, 
running water and 
water collection 
systems  
 
Irrigation 
equipment, pumps, 
water generators, 
waterers and water 
distribution systems  Tractors  
 
Trailers  
 
Agricultural output 
increases  
 
Utility trucks and 
vans 
 
Other machinery 
with an impact on 
innovation and 
technology  
Amount  Up to PYG  500 
million  Up to PYG  500 
million  Up to PYG  500 
million for breeding 
animals  
 
Up to 
PYG 300 million for 
embryo transfer and 
in vitro fertilization  Up to  
PYG 500 million  Up to 
PYG 500 million  Up to  
PYG 500 million  Up to  
PYG 500 million   
  G/AG/W/125/Rev.18/Add.2  
 
- 78 - Order No  1 2 3 4 5 6 7 
Term Up to 3 years  Up to 3 years  Up to 6 years for 
breeding animals, 
with a grace period 
of up to 1 year  
 
Up to 3 years for 
embryo transfer and 
in vitro  fertilization  Up to 1 year  Up to 6 years, 
with a grace 
period of up to 
1 year Up to 6 years, with 
a grace period of up 
to 1 year  Up to 4 years, if new  
 
Up to 3 years for 
used machinery  
Repayment  Semi-annual or 
annual  Semi-annual or 
annual  Semi-annual or 
annual  Semi-annual or annual  Semi-annual or 
annual  Semi-annual or 
annual  Monthly to annual  
Security  Mortgage, pledge 
and/or guaranty  Mortgage, pledge 
and/or guaranty  Mortgage, pledge 
and/or guaranty  Mortgage  
 
Signature only, in 
accordance with 
Livestock  
Fund standards  
 
Guaranty  Mortgage, pledge 
and/or guaranty  Mortgage, pledge 
and/or guaranty  Mortgage or pledge 
with against all risks 
insurance endorsed 
in favour of the 
Livestock Fund  
 
 
   
  G/AG/W/125/Rev.18/Add.2  
 
- 79 - PROGRAMME FOR THE DEVELOPMENT OF THE MEAT VALUE CHAIN  
Order No  1 2 3 4 
Financial products  Working capital  Rehabilitation and/or 
construction of commercial 
and industrial premises  Industrial and commercial 
equipment and facilities  Machinery and utility 
vehicles  
Customers  Butchers' shops, 
slaughterhouses and 
agribusinesses  Butchers' shops, 
slaughterhouses and 
agribusinesses  Butchers' shops, 
slaughterhouses and 
agribusinesses  Butchers' shops, 
slaughterhouses and 
agribusinesses  
Use Financing for customers in the 
livestock industry who market 
livestock to enterprises  
 
Working capital  Materials, labour and technical 
services  Slaughtering, storage, 
refrigeration and packing 
facilities  
 
Cooling units  
 
Weighing equipment  
 
Laboratories and other 
equipment and facilities with 
an impact on agricultural and 
livestock operations, 
innovation and technology  Industrial machine ry 
 
Skip hoists and internal 
transport  
 
Trucks  
 
Vans 
Amount  Up to 500  million  Up to 500 million  Up to 500  million  Up to 500  million  
Term   Up to 1 year  Up to 5 years  Up to 5 years  Up to 4 years  
Repayment  Monthly to annual  Monthly to annual  Monthly to annual  Monthly to annual  
Security  Mortgage or pledge  
 
Signature only, in accordance 
with Livestock Fund standards  Mortgage or pledge  Mortgage or pledge  Mortgage or pledge with 
against all risks insurance 
endorsed in favour of the 
Livestock Fund  
 
 
 
 
 
 G/AG/W/125/Rev.18/Add.2  
 
- 80 - 
 
  AGRICULTURAL EQUIPMENT BANK  https://www.cah.gov.py  
 
The mission, also referred to as the central purpose, is the entity's reason for existing. It is an 
organization's reason for existing, this is the axis around which all its actions revolve; it guides and 
defines the activities to be carried out.  
 
Our view of development takes the form of a vibrant, promising and specific description of the 
organization's future; as such, it is the "image" of what we hope to achi eve in a certain time frame 
given not only our hopes, ideals, values and beliefs, but also what can feasibly be achieved. We 
must define this as "north" in terms of the destination we want to reach.  
 
Productive investment PG - p14 
 
https://www.cah.gov.py/node/1321  
 
Scope : national.  
Amount for investment and working capital : up to a maximum amount of PYG  30,000,000 for 
working capital and PYG  50,000,000 for investment capital.  
Term for working capital : up to 1 year.  
Term for investment capital : up to 7 years.  
Current interest rate : 12% annually on balances.  
Interest rate on arrears : an additional 4.5% annually on balances.  
Working capital : purchase of improved seeds, fertilizers, hired labour, other inputs.  
Investment capital : preparation of land, structures, facilities, tools, machinery, other investments 
for production.  
 
Proagro CAH  https://www.cah.gov.py/node/1320  
 
Scope : national.  
Amount for investment and working capital : up to a maximum amount of PYG  50,000,000.  
Term for working capital : up to 1 year.  
Term for investment capital : up to 5 years.  
Current interest rate : 18% annually on balances.  
Interest rate on arrears : an additional 4.5% annu ally on balances.  
Use of the loan : To finance working capital, hired labour and certain investments required on farms.  
 
 
Paraguay fulfils its commitment to notify the WTO annually, under the Agreement on 
Agriculture, that no export subsidies are provided.  
As noted earlier, the loans provided by national government institutions are consistent with the 
requirements of the Nairobi Declaration.  
 
 
 
 G/AG/W/125/Rev.18/Add.2  
 
- 81 - 
 
  Russian  Federation  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
The Russian Export Center Group is the united state export support institution, which incorporates 
three legal entities: JSC Russian export center (REC), JSC Russian Agency for Export Credit and 
Investment Insurance (EXIAR) and State Specialized Russian Export -Import Bank JSC (REB).  
 
Source: https://www.expoc enter.ru/en/   
 
The EXIAR is the official export credit agency (ECA) of the Russian Federation which provides support 
for export credits in the form of pure insurance cover and operates under Government Decree 
No. 964 of 22 November 2011 (amended on 26 Febr uary 2021).  
 
The REB provides lending and guarantee support to Russian exporters and their foreign 
counterparties at all stages of export process. REB operates under the Government Decree No.  16 
"On the Import -Export Bank of Russia" of 11 January 1994 (ame nded on 26 June 2000), Federal 
Law No. 395 -1 of 2 December 1990 (amended on 30 December 2020), Federal Law No. 208 -FZ of 
26 December 1995 (amended on 27 December 2018).  
2. Description of Export Financing Entity  
The EXIAR offers comprehensive export insurance support programs to Russian companies and their 
counterparties abroad. The REB provides lending and guarantee support to Russian exporters and 
their foreign counterparties at all stages of export process, including pre -export and post -export 
financing, export factoring.  
Both EXIAR and Eximbank of Russia operate on general commercial principles. The EXIAR charges 
risk-weighted premiums to cover the operating costs, using both OECD MPR and actuarial risk 
premium as standard approach when determining  the risk premium for all projects/products. 
The REB is subject to banking legislation set by the Central Bank of the Russian Federation, which 
means that REB performs standard range of bank market operations in order to fund its credit 
activity.  
Both EXIA R and REB do not have any specialized programs aimed at support of agricultural products. 
All products are treated as general exports and receive no preferential conditions.   
3. Total value of export of agricultural products covered by export credits, expo rt credit 
guarantees or insurance programmes and use per programme  
There is no available information.  
4. Annual average premium rates/fees per programme  
There is no available information.  
5. Maximum repayment terms per programme  
There is no available information.  
6. Annual average repayment periods per programme  
There is no available information.  
7. Export destination or group of destinations per programme  
There is no available information.  
8. Programme use by product or product group  
There i s no available information.  G/AG/W/125/Rev.18/Add.2  
 
- 82 - 
 
  Switzerland  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
The Swiss Export Risk Insurance (SERV) agency does not grant export credits. It serves only to 
provide cover within the above -mentioned risk cover category. The relevant legislation for SERV is 
the Federal Law on Swiss Ins urance against Export Risks of 16  December  2005.4 
2. Description of Export Financing Entity  
SERV covers political and commercial risks in connection with the exportation of goods and services. 
The insurance and guarantees of SERV provide protection  against non -payment, facilitate the 
financing of exports , and help companies to maintain their liqu idity. As a public law institution of the 
Swiss Confederation, SERV offers its services in addition to those of private credit insurers 
(subsidiarity). The vast majority of goods for which SERV had active policies up to the end of 2023 
were non -agricultura l goods. The services provided by SERV are driven entirely by demand and are 
also open to exporters of agricultural products.  No instruments specific to agricultural goods are 
available.  
3. Total value of export of agricultural products covered by export c redits, export credit 
guarantees or insurance programmes and use per programme  
Negligible owing to very low demand. See also the reply to question 2 above.  
4. Annual average premium rates/fees per programme  
5. Maximum repayment terms per programme  
To date,  the maximum repayment term has not exceeded 180 days.  
6. Annual average repayment periods per programme  
7. Export destination or group of destinations per programme  
8. Programme use by product or product group  
Practically only non-agricultural goods. The demand for insurance in the agricultural sector has been 
negligible.  
 
4 Federal Law on Swiss Insurance against Export Risks (RS 946.10):  
http://www.admin.ch/opc/fr/classified -compilation/20041349/index.html . G/AG/W/125/Rev.18/Add.2  
 
- 83 - 
 
  Thailand  
Export -Import Bank of Thailand (EXIM Thailand)  is a state -owned specialized financial 
institution under the Ministry of Finance 's supervision. It was established by the Export -Import Bank 
of Thailand Act, 1993 (B.E. 2536), which took effect on 7 September 1993. The Bank provides a 
comprehensive range of credit and insurance facilities to promote exports of goods and services as 
well as domestic and over seas investment aimed at expending Thailand 's commercial base. Its 
facilities include working capital loans, term loans, financing for overseas projects, export credit 
insurance, buyers/bank risk assessment, buyer 's credit, and export insurance.  
1. Descrip tion of the programme (classification within the following categories: direct 
financing  support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
EXIM Thailand has offe red products and services of export credit and export credit insurance to 
general exporters (without a specific target group) in all industries. The details are mentioned below.  
• Export Credit Programme : EXIM Thailand provides a revolving line of short -term credit 
for export (maximum of 180 days). The interest rate determined according to money 
market rates and credit of borrows.  
• Export Credit Insurance Programme : EXIM Thailand 's short -term export credit 
insurance provides coverage up to a maximum of 90% of  loss realized in export of goods 
to buyers in other countries, whether it is the loss caused by commercial risk or political 
risk including prohibition of international money transfer. The service is available for 
exporters offering payment terms of no mo re than 180 days from the date of export, under 
the terms of Letter of Credit (L/C) for payment defaults by banks issuing L/C, and under 
the terms of Documents against Payment (D/P), Documents against Acceptance (D/A) 
and/or Open Account (O/A) for payment defaults by buyers.  
2. Description of Export Financing Entity  
EXIM Thailand operates its business under the Ministry of Finance 's supervision with the State 
Enterprise Policy Office (SEPO) tasked to monitor the Bank 's operational performance.  
EXIM Thailan d is self -reliant financially through fundraising for use in provision of credit facilities to 
Thai exporters and investors, such as borrowing from domestic and overseas financial institutions 
and issuance of short - and long -term financial instruments for sale to financial institutions and the 
general public. Therefore, the Bank can do any business under its missions pursuant to the EXIM 
Thailand Act and customary to commercial banks, except for accepting deposit from the general 
public.  
EXIM Thailand is a state-own financial institution with a mandate to promote and support 
Thai exporters, importers, both domestic and overseas.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per program me 
a. Export Credit Programme:  
Total value of agriculture products covered by the programme are as the followings:  
Agricultural Product Group  2022  
(million  Baths)  
Rice 8,312.44  
Fresh/Chilled/Frozen Vegetables and Fruits  6,010.71  
Other Agricultural Crops  3,198.84  
Other Agricultural Products  1,139.44  
Fresh/Chilled/Frozen Poultry Cuts  2,714.39  
Cassava  1,230.18  
Spices and Medicinal Plants  1,106.59  
Other Chilled or Frozen Meat  441.94  G/AG/W/125/Rev.18/Add.2  
 
- 84 - 
 
  Agricultural Product Group  2022  
(million  Baths)  
Plants and Flowers  433.84  
Lac and Wax  16.59  
Maize  4.5 
Total  24,609.46  
 
b. Export Credit Insurance Programme:  
Total value of agriculture products covered by the programme:  
Agricultural Product Group  2022  
(million  Baths)  
Rice 3,345.69  
Fresh/Chilled/Frozen Vegetables and Fruits  217.42  
Spices and Medicinal Plants  131.34  
Other Agricultural Crops  121.61  
Other Agricultural Products  53.57  
Plants and Flowers  26.75  
Other Chilled or Frozen Meat  17.77  
Maize  8 
Fresh/Chilled/Frozen Poultry Cuts  0.8 
Total  3,922.95  
 
4. Annual average premium rates/fees per program me 
 
a. Interest rates : Interest rates that EXIM Thailand charges exporters are determined by  market 
mechanism.  
 
b. Fees: Fees for analyze exporter 's credit is around 1,000 - 3,000 THB/Product.  
 
All standard pric ing criteria of international Export Credit Insurers and other Export Credit 
Agencies  (ECAs) has been applied into our pricing algorithm which composed of:  
 
- Buyer's Countries risk.  
- Term of payment  
- Insurable amount and types of service selected (whole -turno ver/ Specific)  
- Type of exported goods  
- Exporter risk management quality.  
 
The average premium rate ranged from 0.2% - 0.5% of the insured amount.  
 
Further information, please visit : https://www.exim.go.th/th/ .  
 
5. Maximum repayment terms per programme  
 
EXIM Thailand has established maximum repayment term of short -term loan not exceed 180 days.  
6. Annual average repayment periods per programme  
 
Annual average repayment periods for short -term loan is approximately 120 days.  
 
7. Export destination or group of destinations per programme  
 
a. Export Credit Programme:  top 10 destination countries which have agricultural export credit 
turnover amount are China; Singapore; Malaysia; Korea , Republic of ; Japan;  Hong Kong, China; 
United States of America; Saudi Arabia, Kingdom of ; United Kingdom; and Viet Nam.  
 
b. Export Credit Insurance Programme:  top 10 destination countries which have agricultural 
export credit insurance turnover amount are the United States o f America; China; Gabon; France; 
Belgium; Canada; United Kingdom; Australia; Hong Kong, China; and New Caledonia.  
 G/AG/W/125/Rev.18/Add.2  
 
- 85 - 
 
  8. Programme use by product or product group  
 
a. Export Credit Programme:  
 
- Rice; 
- Fresh/Chilled/Frozen Vegetables and Fruits;  
- Other Agricultural Crops;  
- Other Agricultural Products;  
- Fresh/Chilled/Frozen Poultry Cuts;  
- Cassava;  
- Spices and Medicinal Plants;  
- Other Chilled or Frozen Meat;  
- Plants and Flowers;  
- Lac and Wax;  
- Maize.  
 
b. Export Credit Insurance Programme:  
 
- Rice; 
- Fresh/Chilled/Frozen Vegetables and Fruits;  
- Spices and Medicinal Plants;  
- Other Agricultural Crops;  
- Other Agricultural Products;  
- Plants and Flowers;  
- Other Chilled or Frozen Meat;  
- Maize;  
- Fresh/Chilled/Frozen Poultry  Cuts. G/AG/W/125/Rev.18/Add.2  
 
- 86 - 
 
  Trinidad and Tobago  
1.  Description of the program me, classification: direct financing support, risk cover, 
government to government credit agreements or any other form of government export 
credit support) and relevant legislation  
The Export Import Bank  of Trinidad and Tobago Limited (EXIMBANK) is the only official Export Credit 
Agency in the country.  The four (4) products offe red by EXIMBANK are  as follows:  
Direct Financing Support  
1. Revolving Pre -shipment Facility : This facility is similar to a Working Capital credit line or Bank 
Overdraft. It is used to pay foreign and local suppliers of goods and services along with most 
operating expenses which may be needed in the everyday operations of a business. Repayment 
terms are flexible between 0 -180 days.  
2. Demand Loan:  This facility is used to facilitate the purchase or upgrade of any machinery, 
equipment or any other related capital investments that may be needed by a business.  Repayments 
terms range from one to five  years. 
3. Revolving Post Shipment Discounting Facility : This facility is used for acquiring cash up-front 
for local and foreign sales on credit.  Repayment t erms are flexible between  0-180 days.  
Risk Cover  
1. Export Credit Insurance : This facility is used to  protect a company 's exports if a client defaults 
on payment.  
These facilities offer the client quick and easy access to US D funds without the hassle of queuing. 
Some of the facilities are revolving and only require the necessary instruction to be sent in order for 
the transaction to be facilitated.   
2.  Description of the Export Financing Entity  
The EXIMBANK pursues its mission to facilitate the growth and expansion of the non-energy export 
and manufacturing sectors  in order to enhance the foreign exchange earnings of Trinidad and 
Tobago, and to create and sustain employment through the provision of short term pre and post 
shipment financing, term loans, guarantees and export credit insurance coverage to the exporting 
community.  
The EXIMBANK provides financing for companies involved in the downstream agriculture industries.  
These are defined as outputs, both intermediate products to which further value is added and final 
goods, which can be sold through wholesale and retail chains.  
The bank emerged out of what was formerly the Trinidad and Tobago Export Credit Insurance 
Company Limited (EXCICO), wh ich was established in 1973 by the Government to promote the 
export of goods and services. EXCICO was converted to EXIMBANK following an Order by the Minister 
of Finance on 4 November 1997, cited as "Financial Institution (Amendment to the Third Schedu le) 
Order 1997 ". This Amendment to the Financial Institutions Act,  allows EXIMBANK to conduct "the 
business of a Confirming House, Acceptance House, Finance House or Finance Company ... (and) 
...Financial Services" . G/AG/W/125/Rev.18/Add.2  
 
- 87 - 
 
  3.  Total Value of Export of Agricultural Produc ts covered by export credits, export credit 
guarantees or insurance programmes and use per program me 
The bank has provided funding for companies involved in Agro processing in the following areas:  
Agro Processing Sector  Facility Totals (TTD)  
Seasonings  9,000,000  
Non Alcoholic Beverages  2,000,000  
Chocolates  2,500,000  
Meats  2,100,000  
Rice and Grain  78,000,000  
 
4.  Annual Average premium rates/fees per program me 
• Revolving Pre -shipment Facility : Rates range from 6.5% to 9% annually and is dependent 
of a range of factors that determine the risk of the credit.  
• Demand Loan : Rates range from 6.5% to 9% annually and is dependent of a range of factors 
that determine the risk of the credit.  
• Revolving Post Shipment Discounting Facility : Rates range from 6.5% to 9% annually 
and is dependent of a range of factors that determine the risk of the credit.  
• Export Credit Insurance : Insurance premium rate ranges between1.5% to 2.5% per 
shipment insured.  
5.  Maximum Repayment terms per program me 
• Revolving Pre -shipment Facility : Repayment terms are flexible between 0 -180 days.   
• Demand Loan : Repayments terms range from one to five  years.  
• Revolving Post Shipment Discounting Facility : Repayment terms are flexible between 0 -
180 days.   
• Export Credit Insurance : The terms of this product is determined by the credit terms offered 
by the exporter . 
6.  Annual Average repayment periods per program me 
• Revolving Pre -shipment Facility : Repayment terms  are flexible between 0 -180 days.  
• Demand Loan : Repayments terms range from one to five  years.  
• Revolving Post Shipment Discounting Facility : Repay ment terms are flexible between  0-
180 days.   
• Export Credit Insurance: The terms of this product is determined b y the credit terms offered 
by the exporter . 
All facilities are reviewed annually to determine usage and if the bank will continue the relationship 
with the client going forward.  
7.  Export destination or group of destinations per program me 
The exporters that have facilities with the EXIMBANK, export their products to a wide range of 
countries, however a major part of the exports are done with the United States and CARICOM States.  G/AG/W/125/Rev.18/Add.2  
 
- 88 - 
 
  8.  Program me use by product or product group  
The following produ ct groups  make use of the major program mes offered by the EXIMBANK  
Agro Processing Sector  
Seasonings  
Non alcoholic  beverages  
Chocolates  
Meats  
Rice and Grain  
 
Other Information  
In addition to these services, the EXIMBANK recently launched a trade website http://made -in-
tnt.com/ . This site offers free registration and acts as a hub for local exporters.  G/AG/W/125/Rev.18/Add.2  
 
- 89 - 
 
  Türkiye  
Consistent with the Bali Minist erial Declaration on Export Competition. Members shall 
continue to provide information on Export Credit, Export Credit Guarantees or Insurance 
Program mes within the context of an annual examination process, based on the following 
structure:  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, governmental export credit support) and relevant 
legislation  
As Turk Eximbank does not have a sector specific financing facility, exporters in agricultu ral and food 
sectors can benefit from the export credit, export credit insurance and international loans 
programmes , with same conditions as exporters in other sectors.   
In this context, description and general information about related insurance programmes and 
international loans is provided below. As the export credits defined in the Ministerial decision 
excludes the working capital financing to suppliers, domestic credi t program mes offered by Turk 
Eximbank such as Pre -shipment Export Credit Program, Pre -export Credit Program, Pre -export 
Credit Program for SMEs, Foreign Trade Companies Short -term Export Credits, Rediscount Credit 
Program, Post -Shipment Rediscount Credit P rogram and medium/long term credits of domestic 
nature are not included in this notification.  
A. Export Credit Insurance Program . 
a. Short -term Export Credit Insurance  
Short -term Export Credit Insurance Program:  cover is available up to 90% of losses incur red as a 
result of commercial and political risks. Premium is charged according to the risk classification of the 
buyer's country, credit length, payment term and the type of buyer (public or private).  
b. Medium and Long -Term Export Credit Insurance  
Speci fic Export Credit Insurance Post -Shipment Program:  Turk Eximbank provides extended cover 
against commercial and political risks in post -shipment period for the export receivables arising from 
a single specific sales contract. Investment and capital goods a nd services of Turkish origin with a 
more than one year payment term are eligible under this program me.  
B. International Loans Programs  
Turk Eximbank  can provide medium/long term financial support in the form of direct lending for the 
cost of goods and services to be supplied from Türkiye  in the amount not exceeding 85% of the 
export contract value. The objective of the International Loans Programs is to provide financing to 
the foreign buyers/employers of Turkish exporters/contractors.  
The borrowers are sovereigns or those foreign banks that meet the eligibility criteria.  
Buyer's Credits Through Foreign Banks or Sovereign Guarantee program mes aim to m eet the needs 
of the foreign buyers aiming to finance their import of:  
• Turkish goods and services with respect to the projects undertaken by Turkish contractors 
overseas;  
• ships built by Turkish shipbuilders;  
• durable and non -durable consumer goods and/or ca pital goods of Turkish origin.  
The b orrowers  are sovereigns or those foreign banks that meet the eligibility criteria.  
Buyer's Credits through Domestic Banks programme aims to meet financing needs of Turkish 
exporters and their foreign buyers. Within the scope of the product, Domestic Banks in Türkiye  will 
be the borrower of Turk Eximbank loan. Domestic Banks, which are allocated a credit limit by Turk G/AG/W/125/Rev.18/Add.2  
 
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  Eximbank, shall utilize Turk Eximbank loans to the Buyers who import Turkish goods from Türkiye , 
through their branches, subsidiaries and correspondent banks operating overseas.  
2. Description of Export Financing Entity  
Established in 1987, the Export Credit Bank of Türkiye , Inc. ( Türkiye  İhracat Kredi Bankası A.Ş. – 
"Türk Eximbank ") is the sole provider of officially supported export credits & insurance in Türkiye . 
100% owned by the Ministry of Treasury and Finance of Türkiye . Details are available on our 
web-site: http://www.turkexim bank.gov.tr/ . 
3. Total value of export of agricultural products covered  by export credits, export credit 
guarantees or insurance programmes and use per programme  
2022: USD 2,347,557,436 (for short export credit insurance programme).  
2022: N.A. (for medium -long term insurance programme).  
2022: N.A. [for International Loans Programs (Buyer Credit Program)].  
4. Annual average premium rates/fees per programme  
2022: 0.28% (for export credit insurance programme).  
2022: N.A. (for medium -long ter m insurance programme).  
2022: N.A. [For International Loans dedicated to the consumer goods (including agricultural 
products)].  
5. Maximum repayment terms per programme  
2022: 360 days (for export credit insurance programmes).  
2022: N.A. (for medium -long t erm insurance programme) . 
2022: currently, maturity of the any export facility provided for the export of non -durable consumer 
goods (including agricultural products) under International Loans Programs cannot be longer than 
12 months.  
6. Annual average repayment periods per programme  
2022: 60 - 90 days (for export credit insurance programme).  
2022: N.A. (for medium -long term insurance programme).  
2022: N.A. (For International Loans dedicated to the agricultural products in 2019).  
7. Export  destination or group of destinations per programme  
Short -term Export Credit Insurance : 
The program me does not have a specific destination country or group of countries except for the 
countries that Turk Eximbank regards off -cover. These countries are Arme nia, South Cyprus and 
North Korea. Additionally, Turk Eximbank also reserves the right to occasionally declare individual 
countries off -cover in the face of sudden negative political and economic developments in those 
countries.  
8. Programme use by product  or product group  
Short -term Export Credit Insurance:  
 
Same conditions (premium rates, repayment terms, and average annual repayment periods) apply 
for all sectors as well as products/product groups under the export credit programmes and export 
credit insu rance programmes.  
  G/AG/W/125/Rev.18/Add.2  
 
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  United Kingdom  
Consistent with the Bali Ministerial Declaration on Export Competition, Members shall continue to 
provide information on Export Credit, Export Credit Guarantees or Insurance Programmes within the 
context of an annual examination process, based on the following structure:  
 
1. Description of the programme (classification within the following categories: direct  
financing support, risk cover, government to government credit agreements or any other  
form of government al export credit support) and relevant legislation  
UK Export Finance (UKEF) provide risk cover through an Export Insurance Policy (EXIP). An EXIP 
insures an exporter against the risk of not being paid under an export contract or of not being able 
to recove r the costs of performing that contract because of certain events which prevent its 
performance or lead to its termination.  
In terms of relevant legislation, UK Export Finance 's powers are set out in the Export and Investment 
Guarantees Act 1991 as amended  by the Industry and Exports (Financial Support) Act 2009.  
www.ukef.gov.uk   
2. Description of Export Financing Entity  
UK Export Finance is the UK's official export credit agency and is a UK Ministerial Department und er 
the Secretary of State for International Trade.   
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per  programme  
2022: GBP 479,901.00 was provided through UKEF 's Export Insurance Policy.   
4. Annual average premium rates/fees per programme  
2022: Average premium rate: 1.52%.  
5. Maximum repayment terms per programme  
2022: 18 months.  
6. Annual average repayment periods per programme  
2022: 3.16 months.  
7. Export destina tion or group of destinations per programme  
2022: Colombia, Italy, Jordan, Morocco, the Netherlands, Russian Federation5, Trinidad and Tobago, 
Ukraine, and Uruguay.   
8. Programme use by product or product group  
2022: Drinks, Seafood, Other food.  
  
 
5 Prior to the Russian invasion of Ukraine, UKEF provided a small amount of export insurance support to 
UK companies selling goods or services to the Russia n Federation . The beneficiary of this support was the UK 
exporter. Russian Federation is no longer on cover for support from UKEF.  G/AG/W/125/Rev.18/Add.2  
 
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  United States  of America  
1. Description of the programme s 
USDA: Export Credit Guarantee Program (GSM -102) 
 
The U.S. Department of Agriculture's (USDA) GSM -102 programme  provides credit guarantees to 
assist in the financing of commercial exports of U.S. agr icultural products. The GSM -102 programme  
guarantees credit extended by the private banking sector in the United States (or, less commonly, 
by the U.S. exporter) to approved foreign banks using dollar -denominated, irrevocable letters of 
credit for purchases of U.S. food and agricultural products by foreign buyers. The terms of the 
commercial financing extended must be consistent with the credit guarantee but are not otherwise 
dictated under the programme . The Commodity Credit Corporation  (CCC) is a government -owned 
and operated entity within the U SDA, which issues the credit guarantees. GSM -102 covers credit 
terms of up to 18 months, but maximum terms may be lower based on risk. CCC  guarantees 
payments due from approved foreign banks to exporters or financial institutions in the United States. 
Howe ver, the financing must be obtained through normal commercial sources. Typically, 98% of 
principal and a portion of interest are covered by a guarantee.  
2. Description of Export Financing Entity  
USDA: The Commodity Credit Corporation (CCC) is a government -owned and operated entity within 
the USDA. CCC was created to stabilize, support, and protect farm income and prices.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
USDA: Total value of exports of agricultural products covered by the GSM -102 program for U.S. 
Fiscal Year 2022 was USD 3,403,175,947. Note: The U.S. Fiscal Year runs from 1  October – 
30 September.  
4. Annual average premium rates/fees per programm e 
USDA: for U.S. Fiscal Year 2022, the average fee for the GSM -102 program was USD 0.46 per 
USD 100 of guarantee coverage.  
 
5. Maximum repayment terms per programme  
USDA: for U.S. Fiscal Year 2022, the maximum repayment term for the GSM -102 program was 
18 months.  
6. Annual average repayment periods per programme  
USDA: for U.S. Fiscal Year 2022, the average repayment period for the GSM -102 program was 
12 months.  
7. Export destination or group of destinations per programme  
USDA: GSM -102 programme  for US  Fiscal Year 20 22 
Export Destinations  
Africa and Middle East  – Türkiye – Caucasus  - Central Asia Region  
Latin America  
Asia 
Sub-Saharan Africa  
Note:  Effective with fiscal year 2020, USDA redefined the regional destinations under the GSM-102 
program  G/AG/W/125/Rev.18/Add.2  
 
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  8. Programme use by product or product group  
USDA: The GSM -102 programme  usage by com modity for US  Fiscal Year 20 22 
Commodities  Value of Exports for FY2022  
(in USD)  
Apples  56,250  
Corn  1,296,530,974  
Cotton  2,288,021  
Distiller Dry Grains  56,641,855  
Grain Sorghum  9,155,520  
Rice  43,459,394  
Soybean Meal   698,425,640  
Soybean Oil   96,499,989  
Soybeans   738,641,901  
Wheat  461,476,403  
 G/AG/W/125/Rev.18/Add.2  
 
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  Viet Nam  
1. Description of the program me (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any  other 
form of governmental export credit support) and relevant legislation  
2. Description of Export Financing Entity  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
4. Annual average premium rates/fees per programme  
5. Maximum repayment terms per programme  
6. Annual  average repayment periods per programme  
7. Export destination or group of destinations per programme  
8. Programme use by product or product group  
1. Investment credit and export credit of the State: Following the Decree 75/2011/ND -CP and 
Decree 54/2013/ND -CP dated 30/8/2011 of investment credit and export credit of the State:  
The exporters have export contracts and foreign importers importing goods contracts under the list 
of commodities for export credit loans are the loans for the contract (Ministry of F inance, the State 
Bank) . 
Scope and adjusting object  
Scope of the Decree, including:  
• Investment credit, including: investment loans and investment support later.  
Export credits include export loans (for exporters and importers of foreign loans).  
Regulation objects, including:  
• The enterprises, economic organizations, business units with revenues on the list of projects 
investment credit loans (hereinafter referred to as the investor);  
The enterprises, economic organizations in countries with export contracts or foreign organizations 
to import goods from Viet  Nam on the list of export credit loans;  
The Vietnam Development Bank and other organizations and individuals involved in the process of 
implementing the investment credit and export credit.  
Princ iples of investment credits, export credit  
1. Loans investment projects, export contracts, contracts for import of goods produced by Viet  Nam, 
has withdrawn funds directly, effectively and repayment ability.  
2. Investment projects, export contracts, contra ct loans to import the Development Bank of 
Viet Nam evaluating financial plans, debt repayment plans.  
3. Investors, exporters, importers of foreign loans to loans used for the right purpose; repayment 
of principal and interest in full and on time according  to the signed credit agreement; 
full implementation of the commitments in the contract and the provisions of this Decree.  
4. The list of projects eligible for investment credit and catalog ue items of export credit loans by 
government regulations.  G/AG/W/125/Rev.18/Add.2  
 
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  Loan Conditions:   
The business must  have the following conditions:  
• There are plans for aquaculture for export is effectively the Viet Nam Development Bank 
appraisal and loan approval; Have the legal capacity and capacity for civil;  
• Enterprises must fully implem ent the provisions of the loan guarantee under the provisions of 
existing laws, to purchase property insurance in an insurance business lawfully operating in 
Viet Nam for the property formed from loans subject to compulsory insurance during the term 
of the  loan; 
• Enterprises have to perform accounting, financial reporting in accordance with law; annual 
financial statements must be audited by an agency, an independent audit.  
Loan rates:  
Maximum lending rates by 85% of the total demand for aquatic animal feed for export under the  plan 
was the Vietnam Development Bank appraisal and loan approval, and to ensure the loan level 
maximum for each object is borrowed does not exceed 15% of actual charter capital of 
Vietnam  Development Bank.  
Loan term:  
The loan term is determined by the ability to withdraw funds in accordance with the characteristics 
of each loan plan to buy feed seafood export has been serving the Vietnam Development Bank 
appraisal and approval loans, but the lending period for each loan not exceeding 1 2 months.  
 
 
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