G/AG/W/125/Rev.14/Add.2  
 
14 July 2021 
(21-5586) Page: 1/89 
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. 14. 
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. 14. 
 
_______________  
 
 
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 provisi ons 
of the WTO Agreements in general or in relation to any specific entity or measure listed in this document.  G/AG/W/125/Rev.14/Add.2  
 
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  TABLE OF CONTENTS  
Argentina  ................................ ................................ ................................ ...........................  4 
Australia  ................................ ................................ ................................ ............................  7 
Brazil  ................................ ................................ ................................ ................................ . 9 
Canada  ................................ ................................ ................................ ............................. 11 
China  ................................ ................................ ................................ ............................... 13 
El Salvador  ................................ ................................ ................................ ........................ 15 
European Union  ................................ ................................ ................................ ................. 16 
Hong Kong, China  ................................ ................................ ................................ .............. 47 
Iceland  ................................ ................................ ................................ ............................. 48 
India ................................ ................................ ................................ ................................ 49 
Indonesia  ................................ ................................ ................................ .......................... 51 
Jamaica  ................................ ................................ ................................ ............................ 54 
Japan  ................................ ................................ ................................ ............................... 55 
Kazakhstan  ................................ ................................ ................................ ....................... 60 
Korea, Republic of  ................................ ................................ ................................ .............. 62 
Malaysia  ................................ ................................ ................................ ........................... 63 
New Zealand  ................................ ................................ ................................ ..................... 65 
Paraguay  ................................ ................................ ................................ .......................... 67 
Russian Federation  ................................ ................................ ................................ ............. 74 
Switzerland  ................................ ................................ ................................ ....................... 76 
Thailand  ................................ ................................ ................................ ........................... 77 
Trinidad and Tobago  ................................ ................................ ................................ ........... 79 
Turkey  ................................ ................................ ................................ .............................. 82 
United States of America  ................................ ................................ ................................ ....85 
Viet Nam  ................................ ................................ ................................ .......................... 88 
 G/AG/W/125/Rev.14/Add.2  
 
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  TABLE ON SOURCE OF DATA  
Member  Source of data  
Argentina  • Reply to Questionnaire circulated on 14 January 202 1  
Australia  • Reply to Questionnaire circulated on 14 January 2021  
Brazil  • Reply to Questionnaire circulated on 14 January 202 1  
Canada  • Reply to Questionnaire circulate d on 14 January 202 1 
China  • Reply to Questionnair e circulated  on 14 January 2021  
El Salvador  • Reply to Questionnaire circulated on 14 January 2021  
European Union  • Reply to Questionnaire circulated on 14 January 2021   
Hong Kong , China  • Reply  to Questionnaire circulated on 14 January 2021  
Iceland  • Reply to Questionnaire circulated on 31 October 2016  
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 14 January 2021  
Kazakhstan  • Reply to Questionnaire circulated on 14 January 2021  
Korea , Republic of  • Reply to Questionnaire circulated on 14 January 2021  
Malaysia  • Reply to Questionnaire circulated on 17 January 2020   
New Zealand  • Reply to Questionnaire circulated on 14 January 2021  
Paraguay  • Reply to Questionnaire circulated on 14 January 2021  
Russian Federation  • Reply to Questionnaire circulated on 14 January 2021  
Switzerland  • Reply to Questionnaire circulated on 14 January 2021  
Thailand  • Reply to Questionnaire circulated on 14 January 2021  
Trinidad and Tobago  • Reply to Questionnaire circulated on 31 October 2016  
Turkey  • Reply to Questionnaire circulated on 14 January 2021  
United States of America  • Reply to Questionnaire circulated on 14 January 2021  
Viet Nam  • Reply to Questionnaire circulated on 20 January 2016  
 
  G/AG/W/125/Rev.14/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 program mes. 
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 does 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 programmes . 
5. Maximum repayment terms per program me 
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 partici pate 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 progr ammes . 
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 Foreign Trade Bank (BICE)  
1. Description of the pro gramme (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.  
2. Descript ion of Export Financing Entity  
Investment and Foreign Trade Bank . G/AG/W/125/Rev.14/Add.2  
 
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  3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
USD 43,291,457.74  
4. Annual average premium rates/fees per programme  
8.39%. 
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  0.72 
Brazil  31.16 
Canada  2.17 
China  4.35 
Ecuador  0.72 
Germany  9.42 
Greece  0.72 
Ireland  0.72 
Israel  0.72 
Italy 2.9 
Mexico  1.45 
Netherlands  5.8 
Pakistan  0.72 
Paraguay  1.45 
Poland  2.9 
Portugal  2.9 
Russia n Federation  2.9 
South Africa  0.72 
Spain  0.72 
Turkey  2.17 
United Kingdom  2.17 
United States  22.46  
100 
 
 G/AG/W/125/Rev.14/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  5.07 
4 - Dairy produce; birds eggs; natural honey; edible products  11.59 
5 - Products of animal origin, not elsewhere specified or included  0.72 
7 - Edible vegetables and certain roots and tubers  10.14 
8 - Edible fruit and nuts; peel of citrus fruit or melons  26.09 
9 - Coffee, tea, mate and spices  2.9 
10 - Cereals  4.35 
11 - Products of the miling industry; malt; starches; inulin; wheat gluten  2.9 
12 - Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruit; industrial or 
medicinal plants; straw and fodder  7.97 
15 - Animal or vegetable fats and oils and their cleavage products; prepared edible fats  0 
16 - Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates  0 
17 - Sugars and sugar confectionery  0 
19 - Preparations of cereals, flo ur, starch or milk; pastrycooks products  0 
20 - Preparations of vegetables, fruit, nuts or other parts of plants  6.52 
21 - Miscellaneous edible preparations  1.45 
22 - Beverages, spirits and vinegar  7.97 
23 - Residues and waste from the food industries; prepared animal fodder  0 
24 - Tobacco and manufactured tobacco substitutes  0.72 
33 - Essential oils and resinoids; Perfumery, cosmetic or toilet preparations  0 
38 - Miscellaneous chemical products  0 
41 - Raw hides and skins (other than furskins) and leather  4.35 
51 - Wool, fine or coarse animal hair; horsehair yarn and woven fabric  7.25 
52 - Cotton  0  
100 
 
 
  
  G/AG/W/125/Rev.14/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 furthe r information, EFA 's website is 
https://www.exportfinance.gov.au/  
Table 1: Export Finance Australia programmes  
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 us
e by product 
or product 
group  
(2020) 
Bond  (B) Risk cover  A guarantee on bond(s) issued by banks 
and other financial institutions to 
overseas buyers of Australian goods 
and/or services. Export Finance Australia  
may also issue the bond(s) directly. 
Types of bonds issued or guaranteed are: 
performance bonds, advance payment 
bonds and warranty bonds. These bonds 
may be on -demand or conditional. The 
Export Finance Australia  guarantee on the 
bond remains in force unt il the term 
required under the export contract.  Risk fees take into 
consideration the value of 
the security offered and 
the assessed technical and 
financial strength of the 
exporter to deliver on the 
contract.  Under 18 months  n/a Nil in 2020 Nil in 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 payment 
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.  270 days  135 days Bangladesh  
Pakistan  Basic material 
wholesaling  
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 
amount 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 an d 
frequency of repayments.  Under 180 days  n/a Nil in 2020 Nil in 2020  
  G/AG/W/125/Rev.14/Add.2  
 
- 8 - 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. Th ose programmes provide only working capital financing 
support for suppliers (exporters), and are not export credit program mes pursuant to footnote 7 of the Nairobi Ministerial Decision.  
Table 2: Total value of export of agricultural products covered by export credits, export credit guarantees or insurance prog rammes  
and use per programme, 2009 -2020 (AUD million)  
Export Finan ce Australia Program Programme  2009  2010  2011  2012  2013  2014  2015  2016  2017  2018  2019  2020  
Bond Nil Nil 24.2 17.26   Nil Nil  Nil Nil Nil Nil Nil Nil 
Risk Participation Agreements  Nil Nil 0.72 4.71 5.38 7.72 11.24  3.83 Nil 1.7 0.8 2.2 
Export Finance Guarantee  Nil Nil 54 56.2 16.14  21.44  Nil 99.17  Nil Nil Nil Nil 
Documentary Credit Guarantee   Nil 22.4  Nil Nil  Nil Nil  Nil 0.17 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 
TOTAL  0 66.7 210.32  91.97  22.67  30.59  12.57  103.17  0 1.7 0.8 2.2 
Table 3: Export values by programme and destination for 2020 (AUD million)   
Export Finance Australia Program  Country  Export Value  
Risk Participation Agreement  Bangladesh  2.1 
Risk Participation Agreement  Pakistan  0.1 
TOTAL   2.2 
 
 
 
 G/AG/W/125/Rev.14/Add.2  
 
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  Brazil 
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  
(i) Brazilian Export Financing Program (PROEX)  
PROEX Direct Financing: Government provides direct financing for exporters (s upplier'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 years. The program me 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 in order to suppor t 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 2020.  
 
PROEX is regulated by Federal Law 10.184, 12th February 2001, and by the Federal Decree 7.710, 
3rd April 2012. As of the end of 2020, the program me was also reg ulated by resolutions issued by 
the National Monetary Council (CMN) – resolutions number 2.575, 17th December 1998; and 
number  4.687, 25th September 2018 – and by the Council of Foreign Trade (Camex) – resolution 
number  126, 26th December 2013. Amid a broa der national effort of bureaucratic and legal 
streamlining, the aforementioned resolutions were revoked and replaced by two new pieces of 
legislation – the Resolution of the Executive Committee of Camex number 166, 23rd March 2021, 
and the Resolution of th e CMN number 4.897, 29th March 2021. Both resolutions entered into force 
on 1st April 2021, and they do not change any aspect of the program me specifically related to 
promotion of agricultural exports, nor impacts the results presented by the program me in 2020.  
Export Guarantee Fund (FGE)  
The FGE 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 2020. 
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 intere st 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 2020, PROEX Direct Financing supported USD 4,011,293.51 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 F inancing applies international markets interest rates with respect to the funding 
currency and its maturity.  
PROEX does not charge any fee 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.  G/AG/W/125/Rev.14/Add.2  
 
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  6. Annual average repayment periods per programme  
In 2020, the annual average repayment term for agricultural products in the PROEX Direct Financing, 
was at 6.6  months.  
7. Export destination or group of destinations per programme  
Please see the table below, which shows the destinations of Brazil's exports of agricultural products 
supported by the PROEX Direct Financing program me in 2020. 
Destination country  Export Value (USD)  
China  1,370,156.72  
Mexico  1,333,521.69  
Bolivia, Plurinational State of  377,702.31  
Spain  304,918.02  
Philippines  153,810.84  
Ecuador  142,036.67  
Saudi Arabia, Kingdom of  129,631.32  
Guatemala  94,464.42  
Netherlands  56,720.00  
India 48,331.52  
Total  4,011,293.51  
8. Programme use by product or product group  
Please see the table below:  
Product group  Export value (USD)  
Seeds, Oilseeds and Medicinal Plants  1,484,706.11  
Meat and edible meat offal  1,300,941.32  
Various Food Preparations  377,702.31  
Other Animal Origin Products  304,918.02  
Animal or Vegetable Fats and Oils  182,336.80  
Smoke and its Manufactures  153,810.84  
Cereals  142,036.67  
Preparations of Vegetables and Fruits  64,841.44  
2020 Total  4,011,293.51  
 
 
 
 G/AG/W/125/Rev.14/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 products to international buyer(s).  
https://www.edc.ca/en/solutions/insurance/credit -insurance.html  
Buyer Financing  – helps Canadian exporters by providing their buyers with flexible payment options 
through the extensi on of a loan, thereby taking on the non -payment risk. EDC has a guarantee 
solution for transactions under CAD  10 million.  
2. Description of Export Financing Entity  
The EDC is Canada's official Export Credit agency. It is a self -financing Crown Corporation  that is 
wholly -owned by the Government of Canada and operates at arm 's length from the government. Its 
mandate is to support and develop Canada's export trade. EDC provides financing and insurance 
solutions to help Canadian companies of any size respond t o international business opportunities.  
Details on all products EDC offer s 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  
2018: 5,741  
2019: 6,342  
2020: 7,165  
Buyer Financing:* 
 
2018: nil  
2019: nil  
2020: nil  
* amounts stated in previous questionnaires related to working capital support . 
4. Annual average premium rates/fees per programme  
For agricultural products  
Credit Insurance:  
2018: 0.25%  
2019: 0.24%  
2020: 0.24%  
5. Maximum repayment terms per programme  
Credit Insuran ce: 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 under lying export 
contract and  would not be used for the sale of agricultural products.  G/AG/W/125/Rev.14/Add.2  
 
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  6. Annual average repayment periods per programme  
For agricultural products  
Credit Insurance:  
2018: 62 days  
2019: 77 days  
2020: 81 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  
Africa, Europe & Middle -East  1,201  1,469  1,585  
Asia 1,803  1,806  2,399  
Mexico, Central America & Caribbean  559 556 573 
North America  1,823  2,106  2,146  
South America  355 404 463 
8. Programme use by product or product group  
For agricultural products  
CAD Million  
Product  2018  2019  2020  
Breeding/Genetics/Animal Health & Nutrition  193 112 142 
Commodities -Grain, Specialty Crops  1,849  2,046  2,523  
Commodities -Meat 1,422  1,755  1,572  
Commodities -Horticulture, Organic  191 216 212 
Processor/Elevator -Grain, Specialty Crops  434 365 278 
Food/Processed Food and Beverages  671 758 1,411  
Nutraceuticals, Vitamins & Supplements  73 75 64 
Processing – Fisheries  909 1,015  964 
 
 
 G/AG/W/125/Rev.14/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 gov ernment credit agreements or any other 
form of governmental export credit support) and relevant legislation  
China Agricultural Development Bank d oes not provide favorable export financial services specifically 
to agricultural products, and all export credi t business is based on commercial considerations . 
 
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 discounting 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 short -term credit insurance for agricultural 
exports.  
 
2.  Description of Export Financing Entity  
China Agricultural Development Bank is a state -owned agricultural policy bank, mainly to undertake 
agricultural policy financial business, promoting agriculture and rural development.  
The Export -Import Bank of China is  a state -owned policy 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 soc iety. 
China Export & Credit Insurance Corporation is a state -owned policy insurance company with 
independent legal person status. Sinosure promotes economic growth and balance of payments by 
providing insurance and other services for foreign trade.  
3.  Total v alue of export of agricultural products covered by export credits, export credit 
guarantees or insurance programme s and use per program me 
Export order financing of the Export -Import Bank: covering a total of USD 272 million of agricultural 
products. The products are mainly fruit and vegetable juice and fruit and vegetable juice beverage 
manufacturing.  
Short -term credit insurance of Sinosure: it does not specify agricultural products for its projects.  
4.  Annual average premium rates/fees per pro gram me 
Under short -term credit insurance of Sinosure: in 2019, the underwriting amount for agricultural 
exports was 15.18 billion U.S. dollars, and the underwriting premium was 38.009 million U.S. dollars, 
with an average rate of 0.25%. The 2020 figures ar e 12.23 billion U.S. dollars, 382.29 billion 
U.S. dollars and 0.31%.  
5.  Maximum repayment terms per program me 
Short -term credit insurance of Sinosure: the maximum credit period in 2019 is 210 days; in 2020, 
it is 225 days.  
6.  Annual average repayment periods per  program me 
Export order financing of Export -Import Bank: the average repayment period is 210 days.  
Short -term credit insurance of Sinosure: average repayment period is 70 days.  G/AG/W/125/Rev.14/Add.2  
 
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  7.  Export destination or group of destinations per program me 
Export order financing of Export -Import Bank: United States of America; Japan; Australia; 
Hong Kong, China; Saudi Arabia, Kingdom of ; United Arab Emirates ; Viet Nam; Thailand; Russian 
Federation; South Africa.  
Short -term credit insurance of Sinosure: the e xport destinations in 2019 are the United States of 
America; Japan; Indonesia and Bangladesh; the export destinations in 2020 are the United States 
of America; Japan; Indonesia; and Hong Kong, China.  
8.  Program me use by product or product group  
Nil.  
 G/AG/W/125/Rev.14/Add.2  
 
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  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 Ar ticle 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 credit 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 that generates employment for all sectors and boosts 
international competitiveness. The maximum amount guaranteed is USD  200,0 00, for a maximum 
term of one year with maximum cover of 70% if the credit guaranteed is backed up by the exporter's 
commercial invoice 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, principally those not served by c ommercial 
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 ins urance 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.14/Add.2  
 
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  European Union  
No export 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 limited 
volume of agric ultural 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 Gazette No.215/1981 as last amended on 24  April 2017 ( https://www.ris.bka.gv.at/ ). 
https://www.ris.bka.gv.at/Dokumente/Erv/ERV_1981_215/ERV_1981_21 5.pdf 
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 : 
A few transactions totalling EUR 0.7 million under the general program me. 
4. Annual average premium rate s/fees per programme  
Risk based premium rates.  
5. Maximum repayment term s per programme  
Single transaction cover, repayment terms < 60 days . 
6. Annual average repayment period s per programme  
Not applicable.  
7. Export destination or group of destinations per programme  
Mainly European countries.  
8. Programme  use by product or product group  
The Austrian export credit system does not foresee the possibility to offer export credit insurance 
for agricultural products close to the 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.14/Add.2  
 
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  Belgium  
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. G/AG/W/125/Rev.14/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 repayment 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 i nsurance program mes and use per programme  
Total value of exports covered by non -marketable short -term commercial risk 
(in million  EUR) 2020:  18.21  
4. Annual avera ge premium rate s/fees per programme  
Annual average premium rated for non -marketable short -term commercial risk (%) 2020: 0.42  
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  
Brazil ; India; North Macedonia ; Turkey ; Ukraine ; United Arab Emirates.  
8. Programme  use by product or product group  
Fruits, nuts, vegetables, tea, spices, dairy . G/AG/W/125/Rev.14/Add.2  
 
- 19 - 
 
  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 legislation  
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 In surance 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 Export 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 in accordance with Act No. 58/1995 Coll., on Insurance and Financing of Expo rts 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 pojišťovací 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 (1 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 agric ultural products covered by export credits, export credit 
guarantees or insurance program mes and use per program me 
EGAP:  
2020: CZK mil. 285.4  
CEB: 
2020: CZK mil. 0  
4. Annual average premium rates/fees per program me 
EGAP: 3.0%. 
CEB: N/A.  
5. Maximum repayment terms per program me 
EGAP : 12 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/c ommodities is 18 months. It is part of the product 
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  G/AG/W/125/Rev.14/Add.2  
 
- 20 - 
 
  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 : 
2020: 3.7 months . 
CEB: N/A. 
7. Export destination or group of destinations per program me 
EGAP : Armenia, Belarus, Russian Federation, Ukraine , Cuba, Kazakhstan, Morocco.  
CEB: Not applicable . 
8. Program me use by product or product group  
EGAP : beer, food supplements, milk products, cereals, spices, pates, baking mixtures, canned -food. 
CEB: Not applicable.  G/AG/W/125/Rev.14/Add.2  
 
- 21 - 
 
  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, buye r credit and export guarantees, short term insurance and 
reinsurance.  
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 th e 
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  
Croatian Bank 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 agricu ltural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
EUR 2,943,024 in 2020 (Short term insurance).  
4. Annual average premium rate s/fees per programme  
This information is not held . 
5. Maximum rep ayment term s per programme  
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  
Bosnia and Herzegovina; Serbia; Italy; Czech Republic; United States of America; Germany; France; 
Spain; Slovenia; North Macedonia; Montenegro; Slovak Republic; Hungary; Luxembourg; Austria; 
Greece; Saudi Arabia, Kingdom of; Lithuania; Qatar.  
8. Programme  use by product or product group  
Hazelnut, jam, bee food, vine,  spices, truffles, apples, fruit syrups, shellfish and seafood, grain crops, 
oilseed rape, soy, pigs.  G/AG/W/125/Rev.14/Add.2  
 
- 22 - 
 
  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. G/AG/W/125/Rev.14/Add.2  
 
- 23 - 
 
  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.  
Reinsurance 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.  
Temporary COVID -19 schemes:  
Liquidity Guarantee for SMEs – Executive Order no. 324 of 31/03/2020 and subsequent 
amendments.  
Liquidity Guarant ee for Large Corporates - Executive Order no. 351 of 02/04/2020 and subsequent 
amendments.  
Guarantee scheme for trade credit insurance - Executive Order no. 613 of 14/05/2020 and 
subsequent amendments.  
2. Description of Export Financing Entity  
Denmark 's Export Credit Agency (EKF) is an 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 2020, 
EKF has issued export credit guarantees covering export of agricultural products worth 
approximately DKK 156 million.  
EKF also has re -insurance agreements with the private trad e 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 guaranteed a maximum amount of 
DKK 577 million from January to M ay 2020. In May 2020, a temporary COVID -19 state guarantee 
scheme was introduced, and the reinsurance agreements suspended as the private reinsurance 
companies switched to the temporary state guarantee scheme. Currently, we do not have data 
available on ag ricultural products in our temporary COVID -19 schemes. Data is being obtained.  
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 . G/AG/W/125/Rev.14/Add.2  
 
- 24 - 
 
  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.  G/AG/W/125/Rev.14/Add.2  
 
- 25 - 
 
  Estonia  
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   
Products offered to agric ultural and food processing industry are  all under short-term credit 
insurance products.  
Estonian Law - State Export Guarantees Act:  
https://www.riigiteataja.ee/en/eli/506012014002/consolide . 
2. Description of Export Financing Entity  
KredEx Krediidikindlustus AS . 
3. Total value of export of agricultural products cov ered by export credits, export credit 
guarantees or insurance program mes and use per programme  
In 2020 the value of export of agricultural products/food industry covered by the short -term credit 
insurance under the state export support legislation was EUR 17.2 million. The volumes have 
increased due to the European Commission adoption of the State aid Temporary Framework in 
March  2020 to support the economy in the context of the COVID -19 outbreak.  
4. Annual avera ge premium rate s/fees per programme  
Agreed short -term credit  insurance premiums are provided within  the insurance contracts and are 
negotiated with each exporter according to insurance cover provided. Premium rates range between 
0.2% and 2% of the insured credit turnover across all industrie s. 
5. Maximum repayment term s per programme  
Short -term credit insurance: up to 12 months.  
6. Annual average repayment period s per programme  
For short -term credit insurance two months.  
7. Export destination or group of destinations per programme  
Global coverage for short -term credit insurance.  
8. Programme  use by product or product group  
All industries, including food processing industry (without specification), fisheries, milk processing 
industry, food products wholesale (without specification).  G/AG/W/125/Rev.14/Add.2  
 
- 26 - 
 
  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 rel evant 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 13 million in 20 20. 
4. Annual avera ge premium rate s/fees per programme  
1.4% - 3.0% 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 30-90 days . 
7. Export destination or group of destinations per programme  
In 2020, largest volumes were exported to Russian Federation, around 61% of supported exports, 
then Armenia 19% and Georgia 16%. 
8. Programme  use by product or product group  
In 2020, barley malt accounted for 33% of supported exports, animal feed 29% and butter  19%. G/AG/W/125/Rev.14/Add.2  
 
- 27 - 
 
  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 legislation   
Program me: short -term export credit guarantees for the financing of exports of certain food products 
to Cuba .  
Legislation: French Insurance Code (L.432 -2 and following articles, R422 and following articles).  
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 pr ogram mes and use per  programme  
Cuba: EUR 44 .9 million  exported to Cuba (EUR 28 .3 million  covered).  
4. Annual average premium rate s/fees per programme  
2,42%.  
5. Maximum repayment term s per programme  
18 months . 
6. Annual average repayment period s per programme  
360 days . 
7. Export destination or group of destinations per programme  
Cuba.  
8. Programme  use by product or product group  
EUR 44,9 million  guaranteed for cereals and other alimentary products.  G/AG/W/125/Rev.14/Add.2  
 
- 28 - 
 
  Germany  
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   
Pure cover only (no specific agriculture programme).  
Annual Budget law 20 20 and the Guidelines on the grant of Export Guarantees  of 4 June 2014, 
amended on 1 July 2017  (only German version).  
2. Description of Export Financing Entity  
Euler Hermes Aktiengesellschaft is charged with the management o f the state export guarantee 
scheme. It acts as service provider for the government of Federal Republic of Germany.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
Nil. 
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.  G/AG/W/125/Rev.14/Add.2  
 
- 29 - 
 
  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 products. General program mes for 
export credit insurance. Legal basis: Law No. 1796/1988 (Official Gazette A ' 152/11.7.1988) . 
2. Description of Export Financing Entity  
Export Credit Insurance Organisation (ECIO) is an official ECA supported by the Greek State, 
established as a legal entity governed by private law and is supervised by the Ministry of Foreign 
Affairs. ECIO provides only export credit insurance and not export financing.  
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 rate s/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. G/AG/W/125/Rev.14/Add.2  
 
- 30 - 
 
  Hungary  
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   
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 conduc ts 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 lim ited by shares, which is 
solely owned by the State, but its funding is achieved through the capital market.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
• Export credit insurance covered EUR 6.2 million in 20 20.  
• Official guarantees were not issued.  
• The value of outstanding officially supported export credits was EUR 2.7 million in 20 20. 
4. Annual average premium rate s/fees per programme  
• For short-term export credit insurance, the annual average premium rate was  6.16% 
in 2020. 
• For medium and long-term insurance: N/A.  
• The annual average weighted interest rate for the credits was 1.2% in 20 20. 
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. 5 months for year  2020.  
• For MLT insurance: N/A.  
• The average repayment term of the credits was: 17.5 months with lump sum as of 31.12.2020.  
7. Export destination or group of destinations per programme  
As far as non -EU countries are concerned, the following destinations prevailed in 2020: 
Insurance cover: Azerbaijan; Belarus; Costa Rica; Honduras; Iran; Kazakhstan; Morocco; Moldova, 
Republic of; Mongolia; Russian Federation; Serbia; South Africa; Korea, Republic of; Tajikistan; 
Turkey; Ukraine; Uzbekistan; Viet Nam.  
Credits: Russian Federation, North Macedonia, Mongolia, Azerbaijan, Honduras.  
8. Programme  use by product or product group  
Cattle breeding, grape wine, production of sweets (confection) food, drink, tobacco, wholesale of 
seeds, dairy product, processing and preserving of poultry meat, fruit processing and preservation.  G/AG/W/125/Rev.14/Add.2  
 
- 31 - 
 
  Ireland  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or an y 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. G/AG/W/125/Rev.14/Add.2  
 
- 32 - 
 
  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 transactions 
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 Declarati on 
on Export Competition (WT/MIN(15)/45 — WT/L/980).  
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 progr ammes and use per program me 
EUR 2.745.196  
4. Annual average premium rates/fees per program me 
1.50%. 
5. Maximum repayment terms per program me 
18 months . 
6. Annual average repayment period per program me 
11 months . 
7. Export destination or group of destinations per program me 
Export destinations: Algeria; Benin; Brazil; China; Dominican Republic; Georgia; Hong Kong, China; 
Indonesia; Côte d'Ivoire; Kuwait,  the State of; Lebanon; Mali; Peru; Saudi Arabia, Kingdom of; 
Seychelles; Chinese Taipei; Thailan d; Tunisia; United Arab Emirates; Ukraine.  
8. Program me use by product or product group  
Insurance Policy "Supplier Credit" . G/AG/W/125/Rev.14/Add.2  
 
- 33 - 
 
  Latvia  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any othe r 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 Y2020) of export credit guarantees (specific for agricultural 
products):  EUR 4.33 million. 
4. Annual average premium rate s/fees per programme  
Approximately 1.33%. 
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  
47 days. 
7. Export destination or group of destinations per programme  
Russian Federation; Georgia; Morocco; Belarus; Ukraine; Israel; Italy; Estonia; Spain; Moldova, 
Republic of ; Lithuania; Croatia; Romania; Finland; Czech Republic; Uzbekistan.  
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 pres erving of fish, crustaceans and mollus cs; 
10.3 - Processing and preserving of fruit and vegetables;  G/AG/W/125/Rev.14/Add.2  
 
- 34 - 
 
  10.5 - Manufacture of dairy products;  
10.6 - Manufacture of grain mill products, starches and starch products;  
10.7 - Manufacture of bakery and farinaceous products;  
10.8 - Manufacture of other food products;  
10.9 - Manufacture of prepared animal feeds;  
11.0 - Manufacture of beverages.  G/AG/W/125/Rev.14/Add.2  
 
- 35 - 
 
  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 Lithuania of 30 October 201 9 on regulation of providing 
export credit guarantees.  
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 founder and 
supervisor of the company is Ministry of Economy and Innovation of the Republic of Lithuania.  
3. Total value of export of ag ricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
Issued export credit guarantees for agricultural products for total amount  in 2020 – EUR 1,297,750.  
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 applicable 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.  
Approximately 0,90%.  
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  
South Africa, Morocco, Egypt,  India, United Arab Emirates, Ukraine, Belarus  and other . 
8. Programme use by product or product group  
Grains, flakes, grain mill products, beer and non -alcoholic bever ages, confectionery products 
(sweets), animal feed.  G/AG/W/125/Rev.14/Add.2  
 
- 36 - 
 
  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 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. G/AG/W/125/Rev.14/Add.2  
 
- 37 - 
 
  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 I nvestment 
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 agricultural 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 . G/AG/W/125/Rev.14/Add.2  
 
- 38 - 
 
  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 receivables against non -marketable & temporary 
non-marketable risk and bonds concerning letters of credit - facilities ba cked by the State Treasury.  
• 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 fr om performance of an 
export contract and the types of evidence to serve as the basis for determining the origin of a 
product or service.  
2. Description of Export Financing Entity  
KUKE S.A.: a joint stock company registered in Poland with a majority share h eld 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  
USD 161,827,715  
4. Annual avera ge premium rate s/fees per programme  
0.95%. 
5. Maximum repayment term s per programme  
Maximum repayment term cannot exceed 540 days.  
6. Annual average repayment period s per programme  
50 days.  
7. Export destination or group of destinations per programme  
The geographic distribution of supported by KUKE export was dominated by Ukraine, 
Russian  Federation, Algeria, Belarus, Serbia and Azerbaijan.  
8. Programme  use by product or product group  
Dairy prod ucts, cereals, meat, fruits and vegetables, soft drinks, agricultural products and other 
food products.  G/AG/W/125/Rev.14/Add.2  
 
- 39 - 
 
  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 2020 Facility: it is also a Short term Export Credit Insurance Facility launched as consequence 
of COVID -19, under Temporary framework for state aid measures to support the economy in th e 
current COVID -19 outbreak for temporary non -marketable risks (communication from the 
commission) backed by an top -up a Portuguese State Guarantee . 
The insurance companies involved:  
- Short Term Facility – COSEC ; 
- OECD 2020 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 program mes 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: 1,06%  
OECD Facility 2020: 2,31%  
5. Maximum repayment terms per programme  
The Short Term Facility terms complies with maximum repayment term of 18 months as required 
by § 15(a) of WTO Ministerial Decision WT/MIN(15)/45 of 19/12/15.  
OECD Facility 2020: 6 months.  
6. Annual average repayment period per programme  
Short Ter m Facility: 3,3 months.  
OECD Facility 2020: 3,0 months . 
7. Export destination or group of destinations per programme  
Short Term Facility: the destinations are the Portuguese Speaking countries, mainly in Africa 
(Angola, Mozambique, Cabo Verde) and Brazil.  
OECD Facility 2020: Australia, United States of America, Spain, France, Germany, Belgium and 
Denmark.  
8. Programme use by product or product group  
No discrimination of products under Programs baked by the Portuguese State Guarantee.  G/AG/W/125/Rev.14/Add.2  
 
- 40 - 
 
  Romania  
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: 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 e xport -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 the 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 304/10.04.2020 . 
2. Description of Export Financing Entity  
According to the provisions of Law No. 96/2000, the Export -Import Bank of Romania EximBank S.A. 
is authorized to provide on behalf and for the account of the Romanian State:  
a.   short term cover for non -marketable and temporarily non -marketabl e risks, in compliance with 
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 (2012/C 392/01), as amended;  
b.   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' m edium 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 c overed by export credits, export credit 
guarantees or insurance program mes and use per  programme  
2020: Nil.  
4. Annual average premium rate s/fees per programme  
2020: Nil. 
Note: EximBank applies the same risk -based pricing methodology and premium rates for all types 
of exports, either industrial, agricultural goods 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.14/Add.2  
 
- 41 - 
 
  6. Annual averag e 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 cove r 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) . G/AG/W/125/Rev.14/Add.2  
 
- 42 - 
 
  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 s upport) 
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 agr icultural products are not recorded separately. Provided data 
are separated from overall dataset and selectively filtered by sector.  
Total value of exports (in million EUR) in 20 20: 36.14. 
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 – 0,1% - 0,9% (in some cases up to 1,39% 
due to country risk).  
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 reg ulations 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.  
2020: 13 months.  
7. Export destination or group of destinations per program me 
• Financing: Romania, Italy, Netherlands, Czech Republic.  
• Insurance cover:  Albania, Czech Republic, Finland, Germany, Hungary, Italy, Netherlands, Latvia, 
Poland, Romania, Serbia, Spain, Sweden, Ukraine.  
8. Program me use by product or product group  
Tobacco products, dairy products, cereals and cereal products, beverages, edible products and 
various food products, animal feed, seeds, straw.  G/AG/W/125/Rev.14/Add.2  
 
- 43 - 
 
  Slovenia  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit supp ort) 
and relevant legislation  
No specific supporting program mes/schemes for export of agricultural products . 
Act Governing Insurance and Financing of International Commercial Transactions, OJ RS No. 2/04, 
56/08 – ZSIRB and 82/15  
2. Description of Export Fi nancing Entity  
SID Bank Inc., Ljubljana 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  
2020: 0.00 EUR . 
In the reporting year, 20 20 the SID bank Inc. did not establish any specific schemes and did not 
approve any export credit, export credit guarantee or insurance programme to support the export 
of agricultural products.  
Source: SID Bank Inc, Ljubljana, d.d. 
4. Annual average premium rates/fees per programme  
/. 
5. Maximum repayment term s per programme  
/. 
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  
/. G/AG/W/125/Rev.14/Add.2  
 
- 44 - 
 
  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 me or product. Credits provided  as second floor facilities through 
financial institutions under market conditions. General program mes (non -agriculture specific) for 
export credit insurance. A limited volume of agricultural products is covered under the General 
program me. Agricultural pr oducts 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  
The Instituto de Crédito Oficial (ICO) is not an export financing entity. ICO public owned credit 
institution with its own legal personality, assets and treasury, acting with management autonomy, 
subject to the financial regulation of EU credit institutions an d 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 financia l markets, without obtaining any resources from the General Government 
Budget/CESCE (Spanish Export Credit Insurance Agency) . 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Not applicable for export credits. Credit Insurance: EUR 2.96 million in 2020 . 
4. Annual average premium rates/fees per programme  
Not applicable for export credits, established by private financial entities under market conditions. 
Credit  insurance: 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. They are negotiated with individual expo rter according to insurance cover 
provided.  
5. Maximum repayment terms per programme  
Not applicable for export credits. Private financial entities operate under market conditions. Credit 
insurance: from our experience, the maximum term covered is 150 days . 
6. Annual average repayment period per programme  
Not applicable for export credits. Private financial entities operate under market conditions. Credit 
insurance: 90 days.  
7. Export destination or group of destinations per programme  
Not applicable for expo rt credits. Credit insurance: Egypt, China, Turkey, Jordan, Tunisia, Ethiopia, 
Bangladesh . 
8. Programme use by product or product group  
Not applicable for export credits. Credit insurance: wine, food supplements, cereals, live animals, 
vegetable oils.  G/AG/W/125/Rev.14/Add.2  
 
- 45 - 
 
  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 Lett er 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 104.3 million in 2020.  
4. Annual average premium rate s/fees per programme  
Approximately 1 .55% in 20 20. 
5. Maximum repayment term s per programme  
180 days . 
6. Annual average repayment period s per programme  
Approximately 90 days in 2020. 
7. Export destination or group of destinations per programme  
Chile, China, India, Russian Federation, Uruguay, Ukraine and United Kingdom.  
8. Programme  use by product or product group  
Confectionary; coffee; vegetable oils and fats; flavouring; food stuff; frozen vegetables; honey ; 
mineral water; soft drinks; juice; cider; beer; spirits; malt; powdered eggs; salted and smoked m eat 
products; snacks.  G/AG/W/125/Rev.14/Add.2  
 
- 46 - 
 
  United  Kingdom3 
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   
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 recover the costs of performing that contract because of certain events which prevent 
its performance or lead to its te rmination.  
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.  
https://ww w.gov.uk/government/organisations/uk -export -finance  
2. Description of Export Financing Entity  
UK Export Finance is the UK 's official export credit agency and is a UK ministerial department under 
the Secretary of State for International Trade.   
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
2020: GBP 0. 80 million . 
4. Annual average premium rate s/fees per programme  
1.30%.  
5. Maximum repayment term s per programme  
18 months . 
6. Annual average repayment period s per programme  
2.38 months.  
7. Export destination or group of destinations per programme  
Denmark, Finland, Italy, Netherlands, Russian Federation, Serbia, Switzerland, Trinidad and Tobago, 
Turkey , Ukraine, and the United States of America.  
8. Programme  use by product or product group  
Beer, fish, seafood, wine, chocolates, malt. 
 
3 The United Kingdom withdrew from the European Union as of 1 February 2020. During the transition 
period, which ends on 31 December 2020, Union law, with a few limited exceptions, continues to be applicable 
to and in the United Kingdom.  G/AG/W/125/Rev.14/Add.2  
 
- 47 - 
 
  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 exporters 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, HKE CIC is required to pursue a policy directed towards 
securing revenue 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 programmes and use per programme  
Financial year ending 31 March 20 20: HKD 49 million.  
4. Annual average premium rates/fees per programme  
Insurance premium is based on shipment value which is varied depe nding on the importing 
economies and payment terms of the transaction.  For the financial year ending 31 March 2020, the 
annual average premium rate involving agricultural products is 0.31%. 
5. Maximum repayment terms per programme  
For the financial year ending 31 March 2020, 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 2020, the typi cal credit period for export credit insurance 
policies involving agricultural products is 90 days or shorter.  
7. Export destination or group of destinations per programme  
Major destinations were Europe, North America and Asia.  
8. Programme use by product or product group  
The demand for insurance in the agricultural sector is negligible. Major products included food 
seasonings, chocolate, wheat and pasta, etc.  G/AG/W/125/Rev.14/Add.2  
 
- 48 - 
 
  Iceland  
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 sup port) and relevant legislation  
According to Act No. 61/1997, there exists an export credit guarantee program me. However, this 
program me has not been active in recent years. No applicants have applied for guarantees or other 
program mes, at least for the last eight years. The role of the Icelandic Export Credit Guarantee is 
to pro vide insurance and guarantees to promote Icelandic exports of goods and services, increasing 
the Icelandic investment abroad, participation in construction projects abroad and participation in 
large construction projects in Iceland.  
The role is fulfilled b y: 
a.   undertaking to guarantee a export credit provided by an credit institution to an exporter or 
purchaser, provided that the credit or loan is granted to finance exporting of  Icelandic products 
or services;  
b.   undertaking to guarantee or provide guarantees for contracts between exporters and 
purchasers, made in respect of Icelandi c exports of goods and services;  
c.   undertaking to guarantee or ensure accountability for the performance of services or contracts 
regarding exports of Icelandic go ods and s ervices;  
d.   to issue performance guarantees or guarantee work responsibilities of Icelandic entities, of which 
goes to the extent of the threshold that makes public constructions obligated for public procedure 
in the European Economic Area;  
e.   to ensure investme nts of domestic investors a broad because of political risk;  
f.   to secure equipment, moved abroad by a resident in relation with projects, due to political risks ; 
g.   release another form of guarantee or warranty than the above, provided that it's mission export 
credit guarantee.  
2. Descrip tion of Export Financing Entity  
Not applicable.  
3. Total value of export of agricultural products covered by export credits, export credit  
guarantees or insuranc e program mes and use per programme  
Not applicable.  
4. Annual average premium rates/fees per programme  
Not applicable.  
5. Maxim um repayment terms per programme  
Not applicable.  
6. Annual average  repayment periods per programme  
Not applicable . 
7. Export destination or gr oup of destinations per programme  
Not appl icable . 
8. Program me use by product or product group  
Not applicable . G/AG/W/125/Rev.14/Add.2  
 
- 49 - 
 
  India  
I. Export Import Bank of India (India EXIM Bank)  
 
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  
 
Pre-Shipment credit is provided in Indian and foreign currency to support the company with 
appropriate access to finance 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 const ruction/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 enab les Indian exporters to extend term 
credit to importers at the post -shipment 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 e arn foreign exchange.  
 
3. Total value of export of agricultural 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 2019 -20, Export - Import Bank of India (India EXIM Bank) has not provided governmental 
export credit support for the products enlisted in Annex 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 
Commer ce & 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.14/Add.2  
 
- 50 - 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 -20: INR 70.897/USD (Annual Average, Source: RBI) . 
 G/AG/W/125/Rev.14/Add.2  
 
- 51 - 
 
  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 relevant 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 guarantee, 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 b anks, 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 Export 
Financing (PEN). Indonesia Exim bank'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 national export.  
 
3. Total value of expor t 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.14/Add.2  
 
- 52 - 
 
  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 study of the project, and its collateral amount is ad justed 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 tenor will be categorized as follow:  
- Short term t enor: ≤ 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 and Machinery Insurance, 
Liability Insurance, Miscellaneous Insurance . G/AG/W/125/Rev.14/Add.2  
 
- 53 - 
 
  Legislation: Government Regulation No. 20 of 1983 . 
 
2. Description of Export Financing Entity  
 
Asuran si 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 agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 
N/A. 
 
4. Annual average premium rates/fees per progra mme  
 
 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  
 
N/A. 
 
6. Annual average repayment periods per programme  
 
N/A. 
 
7. Export destination or group of destinations per programme  
 
N/A. 
 
8. Programme use by product or product group  
 
N/A. G/AG/W/125/Rev.14/Add.2  
 
- 54 - 
 
  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 instru ments at competitive interest 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 Touri sm, Manufacturing, 
Agro Processing, 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 d ollars, Discounting Facilities 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 good s 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 def ault or insolvency/bankruptcy 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 agricultur al products covered in the past 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.14/Add.2  
 
- 55 - 
 
  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 E ntity  
Nippon Export and Investment Insurance (NEXI) . 
  
  G/AG/W /125/Rev.14/Add.2  
 
- 56 - 3. Total value of export of agricultural products covered by export credits, export credit guarantees or insurance programmes and use 
per programme  
Underwritten amount by export of agricultu ral products ( FY1995 - FY2019) (Unit:  Japanese Yen ) 
Type of Insurance  Fiscal Year (April -March)  1995  1996  1997  1998  1999  2000  2001  
Export Bill Insurance  Number of underwritten  321 308 362 443 448 446 506 
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  1,794,343,201  
Export Credit Insurance for SMEs  Number of underwritten  - - - - - - - 
Value of expor t of agricultural products  - - - - - - - 
Export Credit Insurance  Number of underwritten  212 232 228 227 240 262 278 
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  856,076,236  
Total/Number of underwritten  533 540 590 670 688 708 784 
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  2,650,419,437  
 
Type of Insurance  Fiscal Year (April -March)  2002  2003  2004  2005  2006  2007  2008  
Export Bill Insurance  Number of underwritten  512 269 275 305 303 316 286 
Value of export of agricultural products   2,040,406,324  1,100,720,060  1,086,485,744  1,278,993,110  1,304,361,795  1,440,843,995  1,386,365,204  
Export Credit Insurance for SMEs  Number of underwritten  - - - 3 11 19 25 
Value of export of agricultural products   - - - 1,544,438  23,104,267  33,981,051  40,105,262  
Export Credit Insurance  Number of underwritten  399 859 894 979 1,390  1,679  1,796  
Value of export of agricultural products   1,159,091,855  2,777,147,521  3,015,634,350  3,566,864,514  5,631,100,931  7,724,731,451  8,650,973,770  
Total/Number of underwritten  911 1,128  1,169  1,287  1,704  2,014  2,107  
Total/Value of e xport of agricultural products  3,199,498,179  3,877,867,581  4,102,120,094  4,847,402,062  6,958,566,993  9,199,556,497  10,077,444,236  
 
Type of Insurance  Fiscal Year (April -March)  2009  2010  2011  2012  2013  2014  2015  
Export Bill Insurance  Number of underwritten  289 285 258 245 238 232 225 
Value of expor t of agricultural products  1,494,431,569  1,533,160,563  1,371,128,078  1,249,134,341  1,318,254,661  1,255,783,299  1,278,846,217  
Export Credit Insurance for SMEs  Number of underwritten  29 30 34 28 85 132 183 
Value of expor t of agricultural products  46,571,107  69,908,572  84,273,412  81,453,513  412,271,273  608,710,785  971,445,893  
Export Credit Insurance  Number of underwritten  1,628  1,658  2,147  1,841  1,877  1,200  1,338  
Value of expor t of agricultural products  7,204,222,570  7,567,224,087  11,779,552,689  9,815,051,676  7,391,450,279  4,925,123,109  5,968,641,523  
Total/Number of underwritten  1,946  1,973  2,439  2,114  2,200  1,564  1,746  
Total/Value of expor t of agricultural products  8,745,225,246  9,170,293,222  13,234,954,179  11,145,639,530  9,121,976,213  6,789,617,193  8,218,933,633  
  
  G/AG/W/125/Rev.14/Add.2  
 
- 57 - Type of Insurance  Fiscal Year (April -March)  2016  2017  2018  2019  2020  Total  Average  
(1995 -2020) 
Export Bill Insurance  Number of underwritten  274 255 207 208 191 8,007  - 
Value of export of agricultural 
products  1,578,407,381  1,597,238,475  1,319,687,997  1,319,050,393  1,432,264,136  36,164,329,994  1,390,935,769  
Export  Credit  Insurance  for SMEs  Number of underwritten  252 309 352 540 606 2,638  - 
Value of export of agricultural 
products  1,077,496,761  1,224,213,780  1,700,812,049  2,323,646,034  2,763,170,860  11,462,709,057  716,419,316  
Export Credit Insurance  Number of underwritten  1,406  1,425  1,437  1,571  1,514  28,717  - 
Value of export of agricultural 
products  6,281,829,038  6,554,707,595  6,655,373,108  7,249,721,926  7,221,543,748  126,285,112,170  4,857,119,699  
Total/Number of underwritten  1,932  1,989  1,996  2,319  2,311  39,362  - 
Total/Value of export of agricultural products  8,937,733,180  9,376,159,850  9,675,873,154  10,892,418,353  11,416,978,744  173,912,151,221  6,688,928,893  
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 FY2020 are: 
10,486 thousand yen (Export Bill Insurance) ; 
5,072 thousand yen (Export Credit Insurance for SMEs and AFF Sector) ; 
9,378 thousand yen (Export Credit Insurance) . 
Annual Average Premium fees by export of agricultural pr oducts (FY1995  - FY2020) (Unit: Japanese Yen)  
Type of Insurance  Fiscal Year  (April -March)  1995  1996  1997  1998  1999  2000  2001  
Export Bill Insurance  Number of underwritten  321 308 362 443 448 446 506 
Premium fees  15,489,053  12,176,622  11,199,676  8,811,676  12,594,458  13,092,872  13,375,315  
Export Credit Insurance for SMEs  Number of underwritten  － － － － － － － 
Premium fees  － － － － － － － 
Export Credit Insurance  Number of underwritten  212 232 228 227 240 262 278 
Premium fees  563,411  510,038  1,156,755  1,078,629  863,158  785,567  1,069,613  
Total/ Number of underwritten  533 540 590 670 688 708 784 
Total/Premium fees  16,052,464  12,686,660  12,356,431  9,890,305  13,457,616  13,878,439  14,444,928  
 
Type of Insurance  Fiscal Year  (April -March)  2002  2003  2004  2005  2006  2007  2008  
Export Bill Insurance  Number of underwritten  512 269 275 305 303 316 286 
Premium fees  14,523,671  8,066,932  7,757,395  9,649,569  9,741,880  10,537,726  10,166,721  
Export Credit Insurance for SMEs  Number of underwritten  － － － 3 11 19 25 
Premium fees  － － － 20,512  228,403  314,271  427,644  
Export Credit Insurance  Number of underwritten  399 859 894 979 1,390  1,679  1,796  
Premium fees  1,180,647  3,239,402  4,650,414  5,359,218  8,633,804  11,992,148  13,186,454  
Total/ Number of underwritten  911 1,128  1,169  1,287  1,704  2,014  2,107  
Total/Premium fees  15,704,318  11,306,334  12,407,809  15,029,299  18,604,087  22,844,145  23,780,819  
  
  G/AG/W /125/Rev.14/Add.2  
 
- 58 - Type of Insurance  Fiscal Year (April -March)  2009  2010  2011  2012  2013  2014  2015  
Export Bill Insurance  Number of underwritten  289 285 258 245 238 232 225 
Premium fees  10,085,091  11,068,910  10,020,948  9,365,344  10,013,730  8,462,076  8,787,566  
Export Credit Insurance for SMEs  Number of underwritten  29 30 34 28 85 132 183 
Premium fees  524,201  830,562  1,038,505  617,856  2,633,245  4,076,187  7,176,241  
Export Credit Insurance  Number of underwritten  1,628  1,658  2,147  1,841  1,877  1,200  1,044  
Premium fees  11,576,324  15,826,636  30,554,307  20,057,492  14,068,656  11,139,435  9,523,615  
Total/Number of underwritten  1,946  1,973  2,439  2,114  2,200  1,564  1,452  
Total/Premium fees   22,185,616  27,726,108  41,613,760  30,040,692  26,715,631  23,677,698  25,487,422  
 
Type of Insurance  Fiscal Year (April -March)  2016  2017  2018  2019  2020  Total  Average  
(1995 -2020)  
Export Bill Insurance  Number of underwritten  274 255 207 208 191 8,007   
Premium fees  9,948,378  10,293,679  8,989,042  8,742,192  9,696,655  272,657,177  10,486,815   
Export Credit Insurance for SMEs  Number of underwritten  252 309 352 540 606 2,638   
Premium fees  7,717,971  8,749,411  11,368,000  15,239,524  20,197,688  81,160,221  5,072,514  
Export Credit Insurance  Number of underwritten  1,406  1,425  1,437  1,571  1,514  28,717   
Premium fees  13,506,069  17,602,930  17,385,894  15,153,265  13,176,456  243,840,337  9,378,475  
Total/Number of underwritten  1,932  1,989  1,996  2,319  2,311  39,362   
Total/Premium fees   31,172,418  36,646,020  37,742,936  39,134,981  43,070,799  597,657,735  22,986,836  
 
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 De cision. (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.14/Add.2  
 
- 59 - 7. Export destination or group of destinations per program me 
Type of Insurance  Export destination or group of destinations (FY1995 - FY2020)  
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; India; Indonesia; Ireland; Israel; Italy; Korea, Republic of;  Malaysia; 
Marshall Islands; Mexico; Monaco;  Netherlands; New Zealand; Pakistan; Palau; Philippines; Poland; Saudi Arabia, Kingdom of; Singapore; 
South Africa; Spain; Sweden; Switzerland; Chinese Taipei; Thailand; United Kingdom; United States of America  
Export Credit Insurance for SMEs  Australia;  Brazil; Canada; Chile; China; Ecuador; Egypt; France; French Polynesia; Germany; Guam; Hong Kong, China; India; Indonesia; 
Israel; Italy; Korea, Republic of; Kuwait, the State of; Latvia; Lebanon; Luxembourg; Macao, China; Malaysia; Mongolia; Myanmar; 
Netherlands; New Zealand; Philippines; Russian Federation; Saudi Arabia, Kingdom of; Singapore; Spain; Sri Lanka; Switzerland; 
Chinese  Taipei ; Thailand; Turkey; Ukraine; United Arab Emirates ; United States of America ; Viet Nam  
Export Credit Insurance  Argentin a; 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 ; Hung ary; India; Indonesia; 
Iran; Ireland; Israel; Italy; Jordan; Korea , Republic  of; Kuwait , the State of ; Latvia; Lebanon; Maca o, China ; Malaysia; Mauritius; Mexico; 
Mongolia; Morocco; Nepal; Netherlands; New  Caledonia (French); New Zealand; Nigeria; Norway; Oman; Pakistan; Philippines; Poland; 
Portugal; Qatar; Romania; Russia n Federation ; Saudi  Arabia , Kingdom of ; Singapore; Slovenia; South Africa; Spain; Sri Lanka; Sweden; 
Switzerland; Syria; Chinese Taipei ; Thailand; Turkey; Ukraine; United Arab Emirates ; United Kingdom ; United States of America ; Viet Nam  
 
8. Program me use by product or product group  
Type of Insurance  HS codes of Products or Product groups (FY1995 - FY2020)  
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, 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, 1108, 1105, 1208, 1212, 1209, 1302, 1515, 1601, 1602, 1604, 1605, 1701, 1702, 1704, 1806, 1901, 1902,  1904, 
1905, 2001, 2007, 2008, 2101, 2103, 2104, 2105, 2106, 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, 0603, 0706, 0708, 0709, 0710,  0712, 
0714, 0805, 0806, 0807, 0808, 0809, 0810, 0811, 0813, 0901, 0902, 0904, 0909, 0910, 1001, 10 06, 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.14/Add.2  
 
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  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 implementation of insurance tools 
for protecting export operations. KazakhExport does not provide dire ct 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 "Expor t Trade Financing."  
 
KazakhExport also provides insurance products to cover against various types of commercial and 
political risks, for example, export credit 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 sett lements.  
 
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 agricultural raw materials.  
 
Joint-stock company, "Center for the Development of Trade Policy  QazTrade", pr ovides 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 agencie s of the Islamic States and the Arab world.  
 
The Sole Shareholder of KazakhExport is JSC National Managing Holding "Baiterek" . The joint -stock 
Company National Managing Holding "Baiterek" was established in accordance with the Decree of 
the President of t he Republic of Kazakhstan dated 22  May 2013, No. 571 "On some measures to 
optimize the management system of development institutions, financial organizations 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 
accordan ce 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 "Center for the Development of Trade 
Policy" and the Decree of the Government of the Republic of Kazakhsta n 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.14/Add.2  
 
- 61 - 
 
  3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and us e per programme  
In 2020, KazakhExport supported seven projects related directly to the agro -industrial complex. The 
total amount of export contracts for these 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 which 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 entire term of the loan. The weighted average 
term of insurance protection under concluded insurance contra cts 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.14/Add.2  
 
- 62 - 
 
  Korea, Republic of  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to governmen t credit agreements or any other 
form of governmental export credit support) and relevant legislation  
a.   Export Credit Guarantees : General programme (non -agriculture specific).  
b.   Export Insurance Programmes:  
- Short -term export insurance ( agricultural and fisher y package , general type, group 
insurance) for the return or disposal of export commodities due to enhanced safety 
standards of the importing country, uncollectable export bills and exchange rate 
fluctuations . 
- Foreign exchange risk insurance to hedge the cu rrency 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  
There is no data as regards agricultural export value covered by export credit guarantees or export 
insurance programs since they do not separately manage agricultural products from other exports.  
 
4. Annual average premium rates/fees per programme  
Data for year 2020  
Short -term export insurance  
(agricultural and fishery package)  Number of contracts  140 
Total premiums (KRW)  175,614,660  
Short -term export insurance  
(general type)  Number of contracts  4,388  
Total premiums (KRW)  348,606,970  
Short -term export insurance  
(group insurance)  Number of contracts  82 
Total premiums (KRW)  19,701,430  
Foreign exchange risk insurance  Number of contracts  315 
Total premiums (KRW)  1,622,738,470  
 
5. Maximum repayment terms per programme  
N/A. 
 
6. Annual average repayment periods per programme  
N/A. 
 
7. Export destination or group of destinations per programme  
N/A. 
 
8. Programme use by product or product group  
All types of goods (without specification).  
 G/AG/W/125/Rev.14/Add.2  
 
- 63 - 
 
  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 Malaysia for Agriculture:  
a.   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 market rate).  
ii. Trade Finance  (The facility offers Pre -and Post -Shipment Financing at commercial basis).  
b.   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 Mini ster of Finance Inc. and under the Central Bank supervision (Development 
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 /takafu l 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 Bo rrowing, 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 subsid y 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.14/Add.2  
 
- 64 - 
 
  financing of projects, gestation period may be allowed subject to the Cash flow projection by the 
customer.  
6. Annual average repaym ent periods per programme  
Monthly repayment applies for Export credit, Export credit guarantee and credit insurance.  
The average repayment for Trade Financing is between three  to six months. As for Cross Border 
Financing, the average repayment term is betw een 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 and Cross Border Financing. As for Credit 
Insurance/Takaful, the product is divided into Short Term and Medium -Long Term. For more deta il 
information on the products, please visit : https://www.exim.com.my/index.php/en/islamic -banking  G/AG/W/125/Rev.14/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 Expo rt 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 agricult ural products.   
NZEC's commercial support of agricultural products is predominately via its Short -Term Trade Credit 
Insurance policy. Under this program me the maximum level of commercial and political risk cover 
was 100% (for letters of credit cover) and t he lowest was 50% coverage.  
Short Term Trade Credit Insurance covers the risk of a foreign buyer defaulting on their short -term 
repayments due to specific commercial or political events. NZEC can only provide this product for 
non-marketable risks and/or wh ere private insurers lack the capacity. It also provides co -insurance 
(top-up cover) policies to support the private insurers ' capacity.   
2. Description of Export Financing Entity  
NZEC is New Zealand 's export credit agency, and is a commercial unit operati ng 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  
Total annual value of Agricultural Exports 
supported by NZEC (in NZD million)  76.4 115.2  30.7 44.5 95 69 115 136 
Average Policy Exposure (in NZD million)  1.40 1.35 3.24 4.3 4.2 2.8 1.8 1 
Average Percentage of cover  80% 85% 90% 92% 96% 95% 90% 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 Writ ten Premium). Since 2009, NZEC 's loss ratio on its 
policies issued in support of agricultural products is 3.23%. This means that for every NZD 1 received 
in premium, less than 4 cents has been paid in claims.   G/AG/W/125/Rev.14/Add.2  
 
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  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 average repayment term during 2020 was 2.4 months . 
6. Annual average repayment periods per programme  
 2013  2014  2015  2016  2017  2018  2019  2020  
Annual average 
repayment periods  3 
months  3  
months  3 
months  2.5 
months  3  
months  3.5  
months  2.5  
months  2.4 
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, the Caribbean,  Pacific, Middle 
East and North  Africa.  
8. Programme use by product or pr oduct group  
The agricultural products NZEC supported during the year 2020 included: apples, butter, deer skin, 
honey, meat, milk powder, pea seeds, wine and yarn.  G/AG/W/125/Rev.14/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 entirety, for medium -sized producers and corp orate 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 he arts 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 prod uction in the agricultural, industrial, commercial 
and services 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/o r supplemented through additional activities.  
Use, term and payment method  
USE TERM  GRACE 
PERIOD  INTEREST PAYMENTS  
Productive investments : 
- Purchase of machinery, implements, equipment 
and accessories.  
 
- 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 t ransport 
vehicles . 
 
- Other investments in general enabling the 
development 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 
to annual (1)  G/AG/W/125/Rev.14/Add.2  
 
- 68 - 
 
  USE TERM  GRACE 
PERIOD  INTEREST PAYMENTS  
 
- Construction of civil 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 Regime . 
 
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 activity 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/prest amos -para-inversiones -para-empresas -exportadoras - 
 G/AG/W/125/Rev.14/Add.2  
 
- 69 - 
 
  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 expor t 
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 service s for export;  
• Investment projects under the Maquila Regime . 
LIVESTOCK FUND  http://www.fondogan.gov.py/  
 
http://www.fondogan.gov.py/index.php/tip os-creditos  
 
Mission : To cement the sustainable 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 lead ing 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.14/Add.2  
 
- 70 - 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 feeds 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 with 
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  
 
Agricultu ral tools  
 
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.14/Add.2  
 
- 71 - 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.14/Add.2  
 
- 72 - 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 machines  
 
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.14/Add.2  
 
- 73 - 
 
  AGRICULTURAL EQUIPMENT BANK  https://www.cah.gov.py  
 
Mission : We are an autonomous public development institution that offers financial services primarily 
to the rural productive sector. We promote technical and organizational assistance through public 
and private sector partnerships, and seek to increase revenues, capitalization of production units 
and market access.  
 
Our view of development takes the form of a vibrant, promising and specific description of the 
organization's future; as s uch, it is the "image" of what we hope to achieve 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 : 18% 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 3 years.  
Current interest rate : 18% annually on balances.  
Interest rate on arrears : an additional 4.5% annually 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 Agreem ent 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.14/Add.2  
 
- 74 - 
 
  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 [R EC Group] (JSC Russian export center, JSC EXIAR and 
JSC Eximbank of Russia) provides both financial and non -financial export support:  
 
- JSC Russian Agency  for Export Credit and Investment Insurance [EXIAR] provides official 
support for export credits in t he form of pure insurance cover. EXIAR operates under 
Government Resolution  No. 964 of 22 November 2011 (amended on 26 February 2021 ). 
 
- JSC Eximbank of Russia [REB] provides lending support towards exports. REB operates 
under the Government Resolution  No. 16 of 11 January 1994  "On the Import -Export Bank 
of Russia" of 11  January  1994 (amended 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  
EXIAR provides insurance cover against commercial and political risks for export credits and 
insurance cover for investments abroad.  
REB provides export credit guarantees and related financial support.   
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
In 2020 total value of export of agricultural products covered by:  
EXIAR: USD 992.30  million . 
REB: USD 123.78  million . 
4. Annual average premium rates/fees per programme  
Depends on credit rating of importing country.  
5. Maximum repayment terms per programm e 
In 2020 maximum repayment terms were:  
EXIAR: up to 18 months.  
REB: up to 18 months.  
6. Annual average repayment periods per programme  
EXIAR: 6 months.  
REB: 6 months.   
7. Export destination or group of destinations per programme  
EXIAR: Armenia ; Australia ; Azerbaijan ; Belarus ; Belgium ; Bulgaria ; China ; Colombia ; Cyprus ; 
Czech  Republic ; Estonia ; Finland ; France ; Georgia ; Germany ; Greece ; Israel ; Ireland ; Italy; Japan ; 
Jordan ; Kazakhstan ; Kuwait , the State of ; Kyrgyz Republic ; Latvia ; Lithuania ; Luxembourg ; 
Maldives ; Moldova , Republic of ; Mongolia ; Morocco ; Netherlands ; New Zealand ; Norway ; Qatar ; 
Romania ; Saudi Arabia, Kingdom of;  Seychelles ; Singapore ; Slovak Republic ; Spain ; Switzerland ; 
Turkey ; United Arab Emirates ; United Kingdom ; United States of America ; Viet Nam; Uzbekistan.  G/AG/W/125/Rev.14/Add.2  
 
- 75 - 
 
  REB: Belarus ; China ; Cyprus ; Kazakhstan ; Kyrgyz Republic ; Moldova , Republic of ; Turkey ; 
Uzbekistan.  
8. Programme use by product or product group  
The exports of agricultural products supported by EXIAR in 2020 
Product or product group  Value of exports, USD million  
Grains  338.40  
Beverages  197.20  
Meat preparations  130.80  
Fats, oils  90.00  
Meat, meat offal  88.70  
Animal feed  52.60  
Oilseeds  23.40  
Vegetables, pulses  22.20  
Confectionery  27.20  
Preparations of flour  9.80 
Fruits, nuts  4.20 
Products of the milling industry  4.10 
Coffee, tea, spices  1.20 
Other foodstuffs  2.50 
Total 992.30  
 
The exports of agricultural products supported by REB in 2020 
Product or product group  Value of exports, USD million  
Beverages  46.96  
Vegetables, pulses  22.10  
Grains  21.90  
Fats, oils  14.70  
Confectionery  5.10 
Fruits, nuts  3.90 
Preparations of flour 3.50 
Coffee, tea, spices  1.60 
Products of the milling industry  1.30 
Dairy products, bird eggs, honey  0.82 
Other foodstuffs  1.90 
Total 123.78  
 
 G/AG/W/125/Rev.14/Add.2  
 
- 76 - 
 
  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 s erves only to 
provide cover within the above -mentioned risk cover category. The relevant legislation for SERV is 
the Federal Law on Swiss Insurance 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 cover against non -payment, facilitate the financing 
of export transactions, and help companies to maintain their liquidity . 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 20 20 
were non -agricultural goo ds. No instruments specific to agricultural goods are available. The services 
provided by SERV are driven entirely by demand and are also open to exporters of agricultural 
products.  
3. Total value of export of agricultural products covered by export credit s, 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 deman d for insurance in the agricultural sector has been 
negligible.  
 
4 Federal Law on Swiss I nsurance against Export Risks (RS 946.10):  
http://www.admin.ch/opc/fr/classified -compilation/20041349/index.html . G/AG/W/125/Rev.14/Add.2  
 
- 77 - 
 
  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 wel l as domestic 
and overseas 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. 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 legisl ation  
EXIM Thailand has offered 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.  
a.   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.  
b.   Export Credit Insurance Programme : EXIM Thailand 's short -term export credit 
insurance provides covera ge 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 off ering payment terms of no more 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 Ope n 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 operationa l performance.  
EXIM Thailand is self -reliant financially through fundraising for use in provision of credit facilities to 
Thai exporters and investors , such as borrowing from financial institutions both at home and abroad 
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 
gener al 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 
guarantee s 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:  
Year 2019  2020  
Agricultural Export Credit  (Million Baht)  6,748.78  6,231.86  
 
b. Export Credit Insurance Programme:  
Total value of agriculture products covered by the programme:  
Year 2019  2020  
Agricultural Export Credit Insurance (Million  Baht)  5,366.04  6,578.92  
 G/AG/W/125/Rev.14/Add.2  
 
- 78 - 
 
  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 2,000 -3,000 THB/year, while premium rates 
depend on the insured amount.  
 
Insured Amount  Premium Rate  
Over 100 Million baht but not exceeding  200 Million baht  Start from 0.35% of insured amount  
Over 50 Million baht but not exceeding  100 Million baht  Start from 0.38% of insured amount  
Not exceeding 50 Million baht  Start from 0.44% of 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  
 
EXIM Thailand has established maximum repayment term of short -term loan not exceed 180 days.  
 
7. Export destination or group of destinations per programme  
 
a. Export Credit Programme:  top 10 destinat ion countries which have agricultural export credit 
turnover amount are China; Singapore; Hong Kong, China; Malaysia; Japan; Korea , Republic of ; 
United States of America; Netherlands; Viet  Nam; and United Arab Emirates . 
 
b. Export Credit Insurance Programme:  top 10 destination countries which have agricultural 
export credit insurance turnover amount are United States of America; China; Gabon; France; 
Canada; United Kingdom; Ethiopia; Russian Federation; Saudi Arabia, Kingdom of ; and Australia.  
 
8. Programme use by product or product group  
 
a. Export Credit Programme:  
 
- Rice; 
- Maize ; 
- Cassava ; 
- Fresh/Chilled/Frozen Vegetables and Fruits ; 
- Plants and Flowers ; 
- Spices and Medicinal Plants ; 
- Other Agricultural Crops ; 
- Fresh/Chilled/Frozen Poultry Cuts ; 
- Other Chilled or Frozen Meat ; 
- Lac and Wax . 
 
b. Export Credit Insurance Programme:  
 
- Rice; 
- Fresh/Chilled/Frozen Vegetables and Fruits ; 
- Plants and Flowers;   
- Spices and Medicinal Plants ; 
- Fresh/Chilled/Frozen Poultry Cuts;   
- Other Chilled or Frozen Meat;   
- Other Agricultural Crops . G/AG/W/125/Rev.14/Add.2  
 
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  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 t o 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), which 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.14/Add.2  
 
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  3.  Total Value of Export of Agricultural Products covered by export credits, expor t 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.14/Add.2  
 
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  8.  Program me use by product or product group  
The following product 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.14/Add.2  
 
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  Turkey  
Consistent with the Bali Ministerial 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 fi nancing facility, exporters in agricultural and food 
sectors can benefit from export credit, export credit insurance and international loans programmes 
under the 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 credit 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 Program and medium/long term credi ts 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 incurred 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  
Specific 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 and services of Turkish origin wit h 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 Turke y in an 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/shipbuilders.  
Buyer's Credits Through Foreign Banks o r Sovereign Guarantee program mes aim to meet 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 capital goods of Turkish origin.  
Borrowers  are sovereigns or those foreign banks that meet the eligibility criteria.  
Buyer's Credits Through Domestic Banks program me aims t o meet financing needs of Turkish 
exporters and their foreign buyers. Within the scope of the product, Domestic  Banks in Turkey will 
be the borrower of Turk Eximbank loan. Domestic Banks, which are allocated a credit limit by Turk 
Eximbank, shall utilize Turk Eximbank loans to t he Buyers who import Turkish goods from Turkey, 
through their branches, subsidiaries and correspondent banks operating overseas.  G/AG/W/125/Rev.14/Add.2  
 
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  2. Description of Export Financing Entity  
Established in 1987, the Export Credit Bank of Turkey, Inc. (Türkiye İhracat Kredi Bankası A.Ş. – 
"Türk Eximbank") is the sole provider of officially supported export credits & insurance in Turkey. 
100% owned by the Ministry of Treasury and Finance of Turkey. Details are availabl e on our 
web-site: http://www.turkeximbank.gov.tr/ . 
3. Total value of export of agricultural products covered5 by export credits, export credit 
guarantees or insurance programmes and use per programme  
2020: USD 1,609,289,946 (for short export credit insurance programme).  
2020: N.A. [for medium -long term insurance programme]  
2020: N.A. [for International Loans Programs (Buyer Credit Program)].  
4. Annual average premium rates/fees per programme  
2020: 0.32% (for export credit insurance programme).  
2020: N.A. (for medium -long term insurance programme)  
2020: N.A. [For International Loans dedicated to the consumer goods (including agricultural 
products)].  
5. Maximum repayment terms per programme  
2020: 360 days (for export credit insurance programmes).  
2020: N.A. (for medium -long term insurance programme ) 
2020: 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  
2020: 60 – 90 days (for export credit insurance programme).  
2020: N.A. (for medium -long term insurance programme ) 
2020: N.A. (For International Loans dedica ted to the agricultural products in 2019).  
7. Export destination or group of destinations per programme  
Export destination does not change according to the export financing facility provided by Türk 
Eximbank.  
In 2019, in overall, Short -term Export Credit Insurance  was requested to be utilised in exports to 
the following destinations, covering all sectors:  
Afghanistan ; Albania ; Algeria ; Angola ; Argentina ; Australia ; Austria ; Azerbaijan ; Bahrain , 
Kingdom  of; Bangladesh ; Barbados ; Belarus ; Belgium ; Belize; Benin ; Bolivia , Plurinational State of ; 
Bosnia and Herzegovina ; Brazil ; Brunei , Darussalam ; Bulgaria ; Burkina Faso ; Cabo Verde;  
Cameroon ; Canada ; Chile; China ; Colombia ; Comoros ; Congo ; Costa Rica ; Côte d'Ivoire;  Croatia ; 
Curaçao; Czech Republic ; Democratic Republic of the Congo;  Denmark ; Djibouti ; Dominica ; 
Dominican Republic ; Egypt ; El Salvador ; Equator ; Equatorial Guinea ; Estonia ; Ethiopia ; Fiji; Finland; 
France ; The Gambia ; Georgia ; Germany ; Ghana ; Greece ; Guadalupe ; Guatemala ; Guyana ; Haiti; 
Hong Kong , China ; Hungary ; India; Indonesia ; Ireland ; Israel ; Italy; Jamaica ; Japan ; Jordan ; 
Kazakhstan ; Kenya ; Korea, Republic of;  Kosovo ; Kuwait , the State of ; Kyrgyz  Republic ; Latvia ; 
Liberia ; Lithuania ; Luxembourg ; Madagascar ; Malaysia ; Maldives ; Malta ; Mauritania ; Mauritius ; 
Mayotte ; Mexico ; Moldova , Republic of ; Mongolia ; Montenegro ; Morocco ; Mozambique ; Myanmar ; 
Namibia ; Nepal ; Netherlands ; New Zealand ; Nicaragua ; Niger ; Nigeria ; North Macedonia;  Norway ; 
Oman ; Pakistan ; Palestine ; Panama ; Papua New Guinea ; Paraguay ; Peru; Philippines ; Poland ; Porto 
Rico; Portugal ; Qatar ; Romania ; Russia n Federation ; Rwanda ; Saint Lucia; Saint Vincent and the 
Grenadines;  Samoa ; Saudi Arabia , Kingdom of ; Senegal ; Serbia ; Seychell es; Sierra Leone ; 
Singapore ; Slovak  Republic ; Slovenia ; Somalia ; South Africa ; Spain ; Sri Lanka ; Surinam e; Sweden ; 
 
5 Agricultural products and processed foods.  G/AG/W/125/Rev.14/Add.2  
 
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  Switzerland ; Chinese Taipei ; Tajikistan ; Tanzania ; Thailand ; Togo; Trinidad and Tobago ; Tunisia ; 
Turkish Republic Of Northern Cyprus ; Uganda ; Ukraine ; United Arab Emirates ; United Kingdom;  
United States of America ; Uruguay ; Uzbekistan ; Viet Nam; Yemen ; Zambia.  
 
8. Programme use by product or product group  
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 insurance programmes.  G/AG/W/125/Rev.14/Add.2  
 
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  United States  of America  
1. Description of the programme s 
a. USDA: Ex port 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. agricultural products. The GSM -102 programme  
guarantees credit extend ed 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 te rms 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 USDA, which issues the cre dit 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. 
However, the financing must b e obtained through normal commercial sources. Typically, 98% of 
principal and a portion of interest are covered by a guarantee.  
Classification: The GSM -102 programme  is a "risk cover" programme . 
Relevant legislation: The Agricultural Trade Act of  1978, as amended (7  U.S.C.  5622 and 
7 U.S.C.  5641).  
b. Export -Import Bank: Export Credit Insurance Program  
 
The Export -Import Bank (ExIm) of the United States export credit insurance program me allows 
applicants to increase their export sales by limiting international risk, offering credit to international 
buyers, and enabling access to working capital funds. The Export Credit Insurance Program offers 
four types of insurance policies that may be  used to cover export of agricultural products: Short -
Term Single Buyer Export Credit Insurance Policies for Exporters; Bank Letter of Credit policies; 
Financial Institution Buyer Credits; and Multi -Buyer Policies.  No ExIm program me is designed to 
support agricultural products specifically, rather agricultural products are treated as general exports 
and receive no special preference or treatment.  Exporters of certain types of agricultural 
commodities shipped in bulk (wheat, corn, soybeans, rice, etc.) are e ligible to receive 98% coverage 
for any commercial or political losses.  Like certain other ExIm -supported products, bulk agricultural 
commodities may also qualify for ExIm insurance on terms up to 360 days. The export items must 
meet ExIm 's U.S. content re quirements as outlined at  https://www.exim.gov/policies/content/short -
term-content -policy . 
Classification: The Export Credit Insurance programme  is a "risk cover" programme . 
Relevant legislation: Export -Import Bank Act of 1945, as amended (P.L.  114-94 codified 
at 12 U.S.C.  §635 et seq.).  
More information regarding ExIm's Export Credit Insurance programme  is available at: 
https://www.exim.gov/what -we-do/export -credit -insurance  
2. Description of Export Financing Entity  
a. USDA: The Commodity Credit Corporation (CCC) is a government -owned and operated entit y 
within the USDA. CCC was created to stabilize, support, and protect farm income and  prices.  
 
b. ExIm: The Export -Import Bank of the United States is the official export credit agency  (ECA) of 
the United States. ExIm is an independent, self -sustaining fed eral agency that provides export credit 
support for U.S. exports. ExIm provides export credit support on a non -discriminatory basis. The 
Bank requires a reasonable assurance of repayment and provides a variety of financing mechanisms, 
including working -capital guarantees, export -credit insurance and financing to help foreign buyers 
purchase U.S. goods and services.  G/AG/W/125/Rev.14/Add.2  
 
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  3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
a. USDA: Total value of exports of agricultural products covered by the GSM -102 program me for 
U.S. Fiscal Year6 2020 was USD 2,221,082,951 . 
 
b. ExIm: In U.S. Fiscal Year 2020, the U.S. Export -Import Bank insured shipments of agricultural 
product s with an estimated export value of USD 347,626,444 .  
 
4. Annual average premium rates/fees per programme  
a. USDA: For U.S. Fiscal Year 2020, the average fee for the GSM -102 programme  was USD 0.46 per 
USD 100 of guarantee  coverage.  
 
b. ExIm: For U.S. Fiscal Year 2020, weighted average premium (by shipment value insured) charged 
on short term insurance of agricultural products was USD 0.5933 per USD 100 of coverage.  
 
5. Maximum repayment terms per programme  
a. USDA: For U.S. Fiscal Year 2020, the maximum repayment term for the GSM -102 programme  
was 18  months.  
 
b. ExIm: For U.S. Fiscal Year 2020, on a case -by-case basis, bulk agricultural commodities under 
the Export Credit Insurance Program may be insured on terms up to, but not exceeding,  360 days.  
 
6. Annual average repayment periods per programme  
a. USDA: For U.S. Fiscal Year 2020, the average repayment period for the GSM -102 programme  was 
12.2 months.  
 
b. ExIm: For U.S. Fiscal Year 2020, the typical repayment period for the agricultural products under 
the Export Credit Insurance Program is 31-60 days; the average repayment period was 51 days. 
 
7. Export destination or group of destinations per programme  
a. USDA: GSM -102 programme  for US  Fiscal Year 20207 
Export Destinations  
Africa and Middle East -Turkey -Caucasus - Central Asia Region  
Latin America  
Asia 
Turkey  
 
6 The U.S. Fiscal Year runs from 1 October – 30 September.  
7 Effective with fiscal year 2020, USDA redefined the regional destinations under the GSM -102 
programme.  G/AG/W/125/Rev.14/Add.2  
 
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  b. ExIm: Export Credit Insurance programme  for US  Fiscal Year  2020 
Export Destinations  
Africa and Middle East  
Asia 
Caribbean  
Central America  
Europe  
North America  
Eurasia  
Southeast Asia and Oceania  
South America  
 
8. Programme use by product or product group  
a. USDA: The GSM -102 programme  usage by com modity for US  Fiscal Year 2020 
Commodities  Value of Exports for  FY 2020  
(in USD)  
Beer  116,160  
Corn 923,253,941  
Corn Gluten Feed   990,990  
Corn Gluten Meal   15,937,624  
Cotton  18,696,411  
Distiller Dry Grains   58,622,160  
Rice  43,495,908  
Soybean Meal   415,893,828  
Soybean Oil   93,270,695  
Soybeans   441,435,961  
Wheat/Flour  209,369,273  
b. ExIm: Export Credit Insurance programme  shipments of agricultural commodities for 
US Fiscal Year 2020  
Product Description  Shipment Amount for FY 2020  
(in USD)  
 Alcoholic Beverages  11,755,373.70  
 Animal feed and supplements  65,658,505.76  
 Confectionery  4,785,953.59  
 Corn 1,432,510.11  
 Cotton  26,349,787.78  
 Dairy and dairy products  3,423,282.08  
 Eggs  14,853,050.88   
 Flour  6,688,336.15   
 Grains and Beans  4,774,000.00   
 Honey  18,210.90   
 Live Trees, Plants, Cut Flowers  486,647.75  
 Miscellaneous food product  168,068,522.59  
 Oilseeds and vegetable oil   9,490,884.86   
 Other farm product raw material  26,153,715.07   
 Processed foods including canned and frozen  3,687,662.68  
 G/AG/W/125/Rev.14/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 con tracts under the list 
of commodities for export credit loans are the loans for the contract (Ministry of Finance, the State 
Bank) . 
Scope and adjusting object  
Scope of the Decree, including:  
a.   Investment credit, including: investment loans and investment supp ort later.  
b.   Export credits include export loans (for exporters and importers of foreign loans).  
Regulation objects, including:  
a.   The enterprises, economic organizations, business units with revenues on the list of projects 
investment credit loans (hereinafter  referred to as the investor);  
b.   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;  
c.   The Vietnam Development Bank and other organizations and in dividuals involved in the process 
of implementing the investment credit and export credit.  
Principles of investment credits, export credit  
1. Loans investment projects, export contracts, contracts for import of goods produced by Viet  Nam, 
has withdrawn fun ds directly, effectively and repayment ability.  
2. Investment projects, export contracts, contract loans to import the Development Bank of 
Viet Nam evaluating financial plans, debt repayment plans.  
3. Investors, exporters, importers of foreign loans to loa ns 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.14/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 implement the provisions of the loan guarantee under the provisions of 
existing laws, to purchase property insurance in an insurance business lawfully opera ting 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, a n 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 12 months.  
 
 
__________