G/AG/W/125/Rev.13/Add.2  
 
26 October 2020  
(20-7438) Page: 1/86 
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. 13. 
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. 13. 
 
_______________  
 
 
1 This document has been prepared under the Secretariat's own responsibility and is without prejudice 
to the positions of Members or to their rights and obligations under the WTO. It has been prepared for 
information only and is not intended to provide any authoritative or official legal interpretation of the provisions 
of the WTO Agreements in general or in relation to any specific entity  or measure listed in this document.  G/AG/W/125/Rev.13/Add.2  
 
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  TABLE OF CONTENTS  
Argentina  ................................ ................................ ................................ ...........................  4 
Australia  ................................ ................................ ................................ ............................  7 
Brazil  ................................ ................................ ................................ ................................ . 9 
Canada  ................................ ................................ ................................ ............................. 11 
China  ................................ ................................ ................................ ............................... 13 
European Union  ................................ ................................ ................................ ................. 16 
Hong Kong, China  ................................ ................................ ................................ .............. 49 
Iceland  ................................ ................................ ................................ ............................. 50 
Indonesia  ................................ ................................ ................................ .......................... 52 
Jamaica  ................................ ................................ ................................ ............................ 55 
Japan  ................................ ................................ ................................ ............................... 56 
Malaysia  ................................ ................................ ................................ ........................... 61 
New Zealand  ................................ ................................ ................................ ..................... 63 
Paraguay  ................................ ................................ ................................ .......................... 65 
Russian Federation  ................................ ................................ ................................ ............. 70 
Switzerland  ................................ ................................ ................................ ....................... 72 
Thailand  ................................ ................................ ................................ ........................... 73 
Trinidad and Tobago  ................................ ................................ ................................ ........... 76 
Turkey  ................................ ................................ ................................ .............................. 79 
United States of America  ................................ ................................ ................................ ....82 
Viet Nam  ................................ ................................ ................................ .......................... 85 
 G/AG/W/125/Rev.13/Add.2  
 
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  TABLE ON SOURCE OF DATA  
Member  Source of data  
Argentina  • Reply to Questionnaire circulated on 25 October 2018  
Australia  • Reply to Questionnaire circulated on 17 January 2020  
Brazil  • Reply to Questionnaire circulated on 17 January 2020   
Canada  • Reply to Questionnaire circulate d on 17 January 2020  
China  • Reply to Questionnair e circulated on 31 October 2016  
European Union  • Reply and corrigendum to Questionnaire circulated on 17 January 2020   
Hong Kong China  • Reply and corrigendum to Questionnaire circulated on 17 January 2020  
Iceland  • Reply to Questionnaire circulated on 31 October 2016  
Indonesia  • Reply to Questionnair e circulated on 25 October 201 8 
Jamaica  • Reply to Questionnaire circulated on 20 January  2016 
Japan  • Reply to Questionnaire circulated on 17 January 2020  
Malaysia  • Reply to Questionnair e circulated on 25 October  2018 
New Zealand  • Reply to Questionnaire circulated on 17 January 2020  
Paraguay  • Reply to Questionnaire circulated on 17 January 2020  
Russian Federation  • Reply to Questionnair e circulated on 17 January 2020  
Switzerland  • Reply to Questionnaire circulated on 17 January 2020  
Thailand  • Reply to Questionnair e circulated on 25 October 201 8 
Trinidad and Tobago  • Reply to Questionnair e circulated on 31 October 2016  
Turkey  • Reply to Questionnaire circulated on 17 January 2020  
United States of America  • Reply to Questionnair e circulated on 17 January 2020  
Viet Nam  • Reply to Questionnaire circulated on 20 January  2016 
 
  G/AG/W/125/Rev.13/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. Descr iption of Export Financing Entity  
The Bank of the Argentine Nation does not participate in export credit support programmes . 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and u se 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 d oes not participate in any form of governmental 
export credit support programmes . 
5. Maximum repayment terms per programme  
Not applicable , as the Bank of the Argentine Nation does not participate in any form of governmental 
export credit support programmes . 
6. Annual average repayment periods per programme  
Not applicable , as the Bank of the Argentine Nation does not participate in any form of governmental 
export credit support programmes . 
7. Export destination or group of destinations per programme  
Not appl icable , as the Bank of the Argentine Nation does not participate in any form of governmental 
export credit support programmes . 
8. Programme use by product or product group  
Not applicable , as the Bank of the Argentine Nation does not participate in any form  of governmental 
export credit support programmes . 
B. Investment and Foreign Trade Bank (BICE)  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements  or any other 
form of governmental export credit support) and relevant legislation  
Direct financing support.  
2. Description of Export Financing Entity  
Investment and Foreign Trade Bank S.A.  G/AG/W/125/Rev.13/Add.2  
 
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  3. Total value of export of agricultural products covered by expor t credits, export credit 
guarantees or insurance programmes and use per programme  
USD 141,078,295.09  
4. Annual average premium rates/fees per programme  
10.25 %. 
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  
Programme: Direct Financing Support  
COUNTRY  PERCENTAGE  
Algeria  1.13 
Australia  0.28 
Belgium  1.98 
Bolivia, Plurinational State of  0.85 
Brazil  23.80  
Bulgaria  0.28 
Canada  2.27 
Chile 4.25 
China  3.68 
Colombia  0.57 
Comoros  0.28 
Croatia  0.57 
Denmark  0.28 
Dubai  0.28 
France  0.57 
Germany  4.82 
Hong Kong, China  0.28 
India 1.42 
Indonesia  0.28 
Ireland  0.28 
Israel 0.85 
Italy 1.98 
Japan  0.85 
Netherlands  5.38 
New Zealand  0.28 
Paraguay  1.98 
Peru 0.85 
Philippines  1.70 
Poland  1.13 
Portugal  1.42 
Russian Federation  2.55 
Saudi Arabia, Kingdom of  1.13 
South Africa  0.85 
Spain  1.70 
Switzerland  0.28 
United Arab Emirates  (Dubai)  0.28 
United Kingdom  1.42 
United States  23.51  
Uruguay  3.40 
Viet Nam  0.57 
 G/AG/W/125/Rev.13/Add.2  
 
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  8. Programme use by product or product group  
Programme : Direct  financing support  
PRODUCT (CHAPTER TARIFF NOMENCLATURE ) PERCENTAGE  
2 - Meat and edible meat offal  6.80 
4 - Dairy produce; birds' eggs; natural honey; edible products…  3.68 
5 - Products of animal origin, not elsewhere specified or included.  0.28 
7 - Edible vegetables and certain roots and tubers.  8.78 
8 - Edible fruit and nuts; peel of citrus fruit or melons.  20.68  
9 - Coffee, tea, maté and spices.  6.52 
10 – Cereals  7.37 
11 - Products of the milling industry; malt; starches; inulin; wheat gluten.  2.27 
12 - Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruit; industrial or 
medicinal plants; straw and fodder.  4.82 
15 - Animal or vegetable fats and oils and their cleavage products; prepared edible fats...  0.85 
16 - Preparations of meat, of fish or of crustaceans, molluscs or other aquatic 
invertebrates.  0.57 
17 - Sugars and sugar confectionery.  1.13 
19 - Preparations of cereals, flour, starch or milk; pastrycooks' products.  1.70 
20 - Preparations of vegetables, fruit, nuts or other parts of plants.  12.18  
21 - Miscellaneous edible preparations.  0.85 
22 - Beverages, spirits and vinegar.  10.76  
23 - Residues and waste from the food industries; prepared animal fodder.  2.83 
24 - Tobacco and manufactured tobacco substitutes.  1.70 
33 – Essential oils and resinoids; Perfumery, cosmetic or toilet preparations  0.28 
38 – Miscellaneous chemical products  0.28 
41 - Raw hides and skins (other than furskins) and leather.  4.25 
51 - Wool, fine or coarse animal hair; horsehair yarn and woven fabric.  1.13 
52 – Cotton.  0.28  
  G/AG/W/125/Rev.13/Add.2  
 
- 7 - Australia  
Export Finance Australia (EFA ) is the only government entity that provides export financing in Australia. EFA is a self -funded organisation that operates in 
accordance with commercial principles.  EFA was established under the Export Finance and Insurance Corporation Act 1991 (AFIC Act ) as a statutory corporation 
wholly owned by the Commonwealth of Australia.  EFA has no agriculture specific export financing programmes.   
See Tables 1, 2 and 3 below for detailed information on EFA 's programmes within the scope of the Nairobi Decision. For  further information, EFA 's website is 
https://www.exportfinance.gov.au/  
Table 1: Export Finance Australia programmes  
Programme  
Title Category 
of 
Support  Description of Programme  Annual average 
premium rate s/fees 
per programme  Maximum  repayment 
terms per programme  Annual  average 
repayment 
periods per 
programme  Export  destination 
or group of 
destinations per 
programme  
(2019) Program me us
e by product 
or product 
group  
(2019) 
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, advanc e payment 
bonds and warranty bonds. These bonds 
may be on -demand or conditional. The 
Export Finance Australia  guarantee on the 
bond remains in force until the term 
required under the export contract.  Risk fees take into 
consideration the value of 
the secur ity offered and 
the assessed technical and 
financial strength of the 
exporter to deliver on the 
contract.  Under 18 months  n/a Nil in 2019 Nil in 2019 
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.  1.8% p.a. to 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  45 days Viet Nam Basic ma terial 
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 
amoun t of the underlying documentary 
credit (DC), which is generally limited to 
85% of the export contract value and will 
apply for the duration of the DC.  Risk fee calculation is 
based on the assessed 
creditworthiness of the 
issuing bank, the tenor and 
frequen cy of repayments.  Under 180 days  n/a Nil in 201 9 Nil in 201 9  
  G/AG/W/125/Rev.13/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. Those programmes provide only working capital financing 
support for suppliers (exporters), and are not export credit programmes pursuant to footnot e 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 -2019 (AUD million)  
Export Finance Australia Program Programme  2009  2010  2011  2012  2013  2014  2015  2016  2017  2018  2019  
Bond Nil Nil 24.2 17.26   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 
Export Finance Guarantee  Nil Nil 54 56.2 16.14  21.44  Nil 99.17  Nil Nil Nil 
Documentary Credit Guarantee   Nil 22.4  Nil Nil  Nil Nil  Nil 0.17 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 
Totals  0 66.7 210.32  91.97  22.67  30.59  12.57  103.17  0 1.7 0.8 
Table 3: Export values by programme and destination for 2019 (AUD million)   
Export Finance Australia Program  Country  Export Value  
Risk Participation Agreement  Viet Nam  0.8 
TOTAL   0.8 
 
 
 
 G/AG/W/125/Rev.13/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 (supplier's credit) and 
buyers (bu yer's credit) of Brazilian services and goods. PROEX covers several sectors, including 
machinery and equipment; repayment period is up to ten years. The program applies international 
markets interest rates with respect to the funding currency and its matur ity. 
PROEX Interest Rate Support: The interest rate support aims to reduce the interest rate export 
finance charged by financial institutions in order to support Brazilian export of goods and services. 
Export credit is granted by financial institutions and  government (PROEX) assumes part of the 
financial burden, allowing interest rates to be compatible with those practiced in the international 
market.  
Both categories are regulated by Federal Law 10.184 of 12 February 2001; Resolutions of National 
Monetary C ouncil (CMN) nº 2.575, 17 December 1998, and nº 4.063, 12 April 2012; and PROEX 
Interest Rate Support is also disciplined by the Federal Decree 7.710, 3 April 2012.  
Export Guarantee Fund (FGE)  
The FGE provides coverage against commercial, political, and fo rce majeure risk in export credits 
operations. It did not issue any guarantee or insurance for agricultural products in 2019.  
2. Description of Export Financing Entity  
The Brazilian Export Financing Program (PROEX ) relies on National Treasury resources and has 
specific allocation in the federal budget, in order to provide official support to Brazilian export in two 
modalities: direct financing and interest support. The operational procedures are undertaken 
exclusiv ely 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  
The total value of agricultural exports supported by the PROEX Direct Financing,  in 201 9, was 
USD 6,265,358.52 . 
In 201 9, Proex Equalization was not used for  agricultural products.  
4. Annual average premium rates/fees per programme  
The PROEX  Direct Financing applies international markets interest rates with respect to the funding 
currency and its maturity.  
PROEX does not charge any fee from the Brazilian exporters.  
5. Maximum repayment terms per programme  
According to the current regulation, the maximum  repayment term for agricultural products in the 
PROEX Direct Financing is 12 months.  
6. Annual average repayment periods per programme  
In 2019, the annual average repayment term for agricultural products in the PROEX Direct Financing, 
was 10 mo nths.  G/AG/W/125/Rev.13/Add.2  
 
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  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 in 2019.  
Destination country   
Philippines  1,939,203.66  
United Arab Emirates  1,563,073.47  
Mexico  1,082,139.08  
Bolivia, Plurinational State of  902,051.43  
Australia  163,599.78  
China  162,061.40  
Spain  158,933.75  
Austria  94,015.02  
Paraguay  65,748.94  
Colombia  57,162.87  
India 55,171.11  
Guatemala  22,198.01  
Sum 6,265,358.52  
8. Programme use by product or product group  
Please see the table below:  
Products   
Smoke and its Manufactures  3,502,277.13  
Seeds, Oilseeds and Medicinal Plants  1,227,248.90  
Various Food Preparations  902,051.43  
Animal or Vegetable Fats and Oils  217,232.51  
Meat and edible meat offal  163,599.78  
Other Animal Origin Products  158,933.75  
Preparations of Vegetables and Fruits  94,015.02  
Sum 6,265,358.52  
 
 
 
 G/AG/W/125/Rev.13/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  
2017: 5,881  
2018: 5,741  
2019: 6,342  
Buyer Financing:* 
2017: nil  
2018: nil  
2019: nil  
* amounts stated in previous questionnaires related to working capital support  
4. Annual average premium rates/fees per programme  
For agricultural products  
Credit Insurance:  
2017: 0.25%  
2018: 0.25%  
2019: 0.24%  
5. Maximum repayment terms per programme  
Credit Insuranc e: 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 underl ying export 
contract and  would not be used for the sale of agricultural products.  
6. Annual average repayment periods per programme  
For agricultural products  G/AG/W/125/Rev.13/Add.2  
 
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  Credit Insurance:  
2017: 66 days  
2018: 62 days  
2019: 77 days  
Buyer financing:  nil for agricultural products  
7. Export destination or group of destinations per programme  
For agricultural products  
Credit Insurance:  
CAD Million  
Region  2017  2018  2019  
Africa, Europe & Middle -East  1,443  1,201  1,469  
Asia 1,711  1,803  1,806  
Mexico, Central America & Caribbean  484 559 556 
North America  1,923  1,823  2,106  
South America  320 355 404 
8. Programme use by product or product group  
For agricultural products  
CAD Million  
Product  2017  2018  2019  
Breeding/Genetics/Animal Health & Nutrition  169 193 112 
Commodities -Grain, Specialty Crops  2,050  1,849  2,046  
Commodities -Meat 1,198  1,422  1,755  
Commodities -Horticulture, Organic  176 191 216 
Processor/Elevator -Grain, Specialty Crops  475 434 365 
Food/Processed Food and Beverages  797 671 758 
Nutraceuticals, Vitamins & Supplements  67 73 75 
Processing – Fisheries  950 909 1,015  
 
 
 G/AG/W/125/Rev.13/Add.2  
 
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  China  
I. China Development Bank  
China Development Bank (CDB ) is a state -owned policy bank with the mandate to carry out financial 
businesses of long -term loan and investment, with the aim of facilitating the implementation of 
medium or long term development strategies with significant importance for national econo my. CDB 
provides financial supports to the construction of processing bases of agricultural products, but 
doesn 't provide financial supports for agricultural products export.  
II. Agricultural Development Bank of China  
1.  Description of the programme (classif ication 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 support provided by the Agricultural Development  Bank of China is direct financing support.  
2.  Description of Export Financing Entity  
The Agricultural Development Bank of China  is a state -owned policy bank engaged in providing 
financial supports for agriculture and rural development. Its main businesses include making 
payments on behalf of the state agencies for implementing agricultural policies. In addition, the 
bank is author ized to provide financial services on commercial basis, including the short-term trade 
financing supports for export of agricultural products based on invoices, receipts or credit letters, 
etc. 
3.  Total value of export of agricultural products covered by expo rt credits, export credit 
guarantees or insurance programme s and use per program me 
The total value of export of agricultural products covered in 2015 and in 2016 is USD 156 million 
and USD 155 million respectively.  
4.  Annual average premium rates/fees per pro gram me 
Not available.  
5.  Maximum repayment terms per program me 
Three months or six  months.  
6.  Annual average repayment periods per program me 
Three  - four months.  
7.  Export destination or group of destinations per program me 
The destinations include: Republic of Korea; Japan; Hong Kong, China; India; the United States ; 
Thailand; Pakistan; Germany; Italy and Bangladesh.  
8.  Program me use by product or product group  
Fruits and vegetables.  G/AG/W/125/Rev.13/Add.2  
 
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  III. The Export -Import Bank of China  
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  
The support provid ed by the Export -Import Bank of China is direct financing support.  
2. Descrip tion of Export Financing Entity  
The Export -Import Bank of China is a state -funded and state -owned policy bank with the status of 
an independent legal person. It is a bank directly under the supervision of the State Council and 
dedicated to supporting China 's foreign trade, investment and international economic cooperation. 
With the Chinese government 's credit support, the Bank plays a crucial role in promoting steady 
econom ic growth and structural adjustment, supporting foreign trade, and implementing the "going 
global " strategy. It is committed to reinforcing financial support to key sectors and weak links in the 
Chinese economy to ensure sustainable and healthy economic an d social development. Supports for 
export of agricultural products only account for a small proportion in their business, and most of the 
supports are working capital loans for suppliers.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per program me 
No export financing support of agricultural products was provided in 2015. In 2016, the total value 
of export of agricultural products covered is RMB 199 million (or USD 30 mil lion). 
4. Annual average premium rates/fees per program me 
Not available.  
5. Maximum repayment terms per program me 
150 days or 250 days.  
6. Annual average repayment periods per program me 
200 days.  
7. Export destination or group of destinations per program me 
The destinat ions include: Republic of Korea; Japan;  Hong Kong, China; India;  the United States ; 
Thailand; Pakistan; Germany;  Italy and Bangladesh.  
8. Program me use by product or product group : 
Apple juice, coffee.  
IV. China Export & Credit Insurance Corporation (SINOSURE)  
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 rel evant legislation  
The export credit insurance program mes provided by SINOSURE are risk cover provided on regular 
commercial terms and conditions.  
2.  Description of Export Financing Entity  
SINOSURE is a state -owned insurance company with the mandate to promote Chinese exports of 
goods, technologies and service, especially high -tech and high value -added capital goods such as G/AG/W/125/Rev.13/Add.2  
 
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  electromechanical products. State owned enterprises ' overseas invest ment, by means of export 
credit insurance against non -payment risks. SINOSURE 's main products include medium - and long -
term export credit insurance, overseas investment insurance and short -term export credit insurance. 
Currently, SINOSURE provides insuranc e for export of agricultural products fully on commercial 
terms.  
3.  Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per program me 
In 2015, the total value of export covered by export insurance is USD 11.9 billion. In  2016, the total 
value of export covered by export insurance is USD 13.9 billion.  
4.  Annual average premium rates/fees per program me 
Not available.  
5.  Maximum repayment terms per program me 
No more than 18 months.  
6.  Annual average repayment periods per program me 
No more than 12 months.  
7.  Export destination or group of destinations per program me 
The exportation destinat ions include: the United States; Hong Kong, China; Japan;  the United  Arab 
Emirates and Indonesia.  
8.  Program me use by product or product group  
Since the insurance is provided on commercial terms, SINOSURE only considers the risks associated 
with the importer and the importing country, rather than the products being exported. And the 
clients are only requested to declare the amount to be insured, and the information regarding the 
products being insured is not necessary. Therefore, the information on product or product groups is 
not available.  
 G/AG/W/125/Rev.13/Add.2  
 
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  European Union  
No export credit, export credit guarantees,  or insurance programmes are operated at the EU level. 
The available data concerning various export financing schemes operated by the EU member States 
is annexed to this note .2 No data on export financing program mes operated has been submitted by 
Luxembourg. Nil replies were provided by Belgium, Cyprus, Greece, Ireland, Italy, Malta, Portugal 
and Spain.  
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 programmes (non -agriculture specific) for export credit insurance. An extremely limited 
volume of agricultural products is covered under the General program. 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_215.pdf  
2. Description of Export Finan cing Entity  
Oesterreichische Kontrollbank AG (OeKB ). 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme : 
None in 201 9. 
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.  
 
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.13/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 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.13/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 med ium-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 agricu ltural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
Total value of exports covered by non -marketable short -term commercial risk 
(in million  EUR) 2019: 6.240  
4. Annual avera ge premium rate s/fees per programme  
Annual average premium rated for non -marketable short -term commercial risk (%) 2019: 0.38 
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 ; Greece ; India; North Macedonia , Republic of;  Turkey ; Ukraine ; United Arab Emirates.  
8. Programme  use by product or product group  
Fruits, nuts, vegetables, tea, spices, dairy . G/AG/W/125/Rev.13/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 (Insuran ce of a Short -Term Export Supplier Credit, resp. 
Insurance of a Short -Term Export Supplier Credit Financed by a Bank).  
Legal basis: EGAP operates in accordance with the regulations in force: Insurance Act No.  277/2009 
Coll. as amended, and Act No. 58/1995 Coll., on Insurance and Financing of Exports with State 
Support and on Supplement  to Act No. 166/1993 Coll., on the Supreme Audit Office, as amended.  
CEB - Česká exportní banka, a.s. (Czech Export Bank or CEB) provides short -term and long -term 
export finan cing 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 Finan cing of Exports with 
State Support and on Supplement to Act No. 166/1993 Coll., on the Supreme Audit Office, as 
amended.  
2. Description of Export Financing Entity  
EGAP (Exportní garanční a pojišťovací společnost, a.s./Export Guarantee and Insurance Corpora tion) 
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 Česká exportní banka, a.s.  (Czech Export Bank) is a specialized banking institution with an 
exclusive authorization to provide financing to promote the Czech exports, established in 1995 under 
the laws of the Czech Republic.  
https://www.ceb.cz /en/ 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programs and use per program me 
EGAP:  
2019: CZK mil. 197.8  
CEB: 
2019: CZK mil. 0  
4. Annual average premium rates/fees per program me 
EGAP : 2.1%.  
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 is two years. However, maximum repayment 
term for the export of agricultural products/commodities 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.13/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 programs up to two years, long -term general program mes in compliance 
with the OECD Arrangement on Officially Supported Export Credits.  
As of 31 Dece mber 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 : 3.3 months . 
CEB: N/A. 
7. Export destination or group of destinations per program me 
EGAP : Armenia, Belarus, Russian Federation, Ukraine.  
CEB: Not applicable . 
8. Program me use by product or product group  
EGAP : Food supplements, pates, baking mixtures, spices and functional mixtures for the food 
industry , etc. 
CEB: Not applicable.  G/AG/W/125/Rev.13/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 programs/schemes for export of agricultural products. General programs for 
supplier credit, buyer credit and export guarantees, short term insurance and reinsurance.  
Legal basis: Act on the Croatian Bank for Rec onstruction and Development (OG 138/06, OG 25/13)   
Regulation on Export Credit Insurance (OG 61/07, OG 92/08, OG 79/10).  
Communication from the Commission to the Member States on the application of Articles 107 
and 108 of the Treaty on the Functioning of t he 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 pro vides export credit insurance operations on behalf 
and for the account of the Republic of Croatia.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
EUR 951,873 in 2019 (Short term insurance and reinsurance).  
4. Annual average premium rate s/fees per programme  
This information is not held . 
5. Maximum repayment term s per programme  
Up to one year. 
6. Annual average repayment period s per programme  
This informa tion 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 , Republic of;  Montenegro.  
8. Programme  use by product or product group  
Hazelnut, jam, bee food, vine, spices, truffles, apples, fruit syrups, shellfish and seafood.  G/AG/W/125/Rev.13/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 p rogramme  
Nil. 
8. Programme use by product or product group  
Nil. G/AG/W/125/Rev.13/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 are not permitted within these markets.  
Legal basis: Act no. 104 of 3 February 2016 on EKF Denmark 's Export Credit Agency.  
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  
Danish general export credit programme covers some agricultural products. During 20 19, EKF has 
issued export credit guarantees covering export of agricultural products worth approximately 
DKK 41 million.  
EKF reinsures exports of all type of products insured by the private insurance companies.  
4. Annual av erage premium rate s/fees per programme  
Depends on the credit rating of the individual destination country.  
5. Maximum repayment term s per programme  
General export credit programme covering breeding animals: 18 months.  
Other agricultural products: One year or less.  
Reinsurance programme: 180 days.  
6. Annual average repayment period s per programme  
As above . 
7. Export destination or group of destinations per programme  
Mainly countries outside the EU/OECD.  
8. Programme  use by product or product group  
General export credit program me: Primarily capital goods.  
Reinsurance program me: All types of goods, but typically consumer goods.  G/AG/W/125/Rev.13/Add.2  
 
- 24 - 
 
  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 agricultural and food processing industry are 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 covered by export credits, export credit 
guarantees or insurance program mes and use per programme  
In 2019 the value of export of agricultural products/food covered by short term credit insurance 
under state ex port support legislation was EUR 1.7 million . 
4. Annual avera ge premium rate s/fees per programme  
Agreed short -term credit  insurance premiums are provided in the insurance contracts and are 
negotiated with individual exporter according to insurance cover provided. Premium rates range 
between 0 .2% and 2% of insured credit turnover across all industries.  
5. Maximum repayment te rms 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  
Short -term credit insurance to only non -OECD countries eligible for the state support.  
8. Programme  use by product or product group  
All industries, including food processing industry and fisheries ( without specification).  G/AG/W/125/Rev.13/Add.2  
 
- 25 - 
 
  Finland  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
General programme  (non-agriculture specific) for risk cover and credit insurance.  No. 422/2001 Act 
on State 's Export Credit Guarantees . 
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 prod ucts were 11 million in 2019.  
4. Annual avera ge premium rate s/fees per programme  
2.0% - 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 2019 largest volumes were exported to Russian Federation, around 58 % of supported exports, 
Armenia 22% and Georgia 19%.  
8. Programme  use by product or product group  
In 2019 barley malt accounted for 31% of supported exports, animal (fish) feed 27%, milk 
products  23% and butter 19%.  G/AG/W/125/Rev.13/Add.2  
 
- 26 - 
 
  France  
1. Description of the programme (direct financing support, risk cover, government to 
government cr edit agreements or any other form of governmental export credit support) 
and relevant legislation   
Short -term export credit guarantees for the financing of exports of certain food products to Cuba, 
temporary short -term credit insurance scheme for exports to Greece, and short -term export credit 
guarantees for non -marketable risk in Egypt, Lebanon and Algeria.  
French Insurance Code (L.432 -2 and following articles, R. 442 and following articles).  
Communicat ion 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.  
Nairobi Ministerial Decision on Export Competition (maximum repayment term ). 
2. Description of Export Financing Entity  
Bpifrance Assurance Export.  
A financial company under public control, duly empowered by French law to manage and grant 
export guarantees on behalf of the French State.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
About EUR 94 .5 million of which:  
• around 0 .4 was exported to Greece;  
• around 7 .5 million was exported to Algeria and Egypt (no guarantee was delivered in  2019 
by the program mes dedicated to the Lebanese Republic);  
• nearly 86 .6 million was exported to Cuba. (54 .6 million covered) . 
4. Annual average premium rate s/fees per programme  
Cuba: 2.4% . 
Algeria and Egypt:  1.2% . 
Greece: 6.5% . 
5. Maximum repayment term s per programme  
18 months . 
6. Annual average repayment period s per programme  
Cuba: 360 days . 
Algeria: 60 days . 
Egypt: 30 days . 
Greece: 90 days . G/AG/W/125/Rev.13/Add.2  
 
- 27 - 
 
  7. Export destination or group of destinations per programme  
Cuba, Greece, Algeria, Egypt, Lebanon.  
8. Programme  use by product or product group  
Cuba: EUR  86.6 million guaranteed for cereals (wheat) and milk products . 
Algeria: EUR  7,422,213 guaranteed for live animals (cows) and cereals (wheat) . 
Egypt: EUR  150,000 guaranteed for fruits and agricultural crops . 
Greece: EUR  355,000 guaranteed for frozen meat.  G/AG/W/125/Rev.13/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 2019 and the Guidelines on the grant of Export Guarantees, as last amended 
on 4 June 2014 (only German version).  
2. Description of Export Financing Entity  
Euler Hermes Aktiengesellschaft is charged with the management of the state export guarantee 
scheme. It a cts 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 ra tes/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.13/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  
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.13/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 conducts the 
tied aid facilities to developing countries.  
Acts: 
• Act XLII of 1994 on the Hungarian Export -Import Bank Private Limited Company and the 
Hungarian Export Credit In surance Private Limited Company.  
• Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises.  
Decrees:  
• Decree No. 312/2001 (XII. 28.) on the terms of the insurance of non -marketable risks by the 
Hungarian Export Credit Insurance Plc. with a government payment guarantee provided from the 
central budget.  
• Decree No. 18/2009 (VIII. 6.) MNB of the Governor of th e National Bank of Hungary on Payment 
Services Activities . 
2. Description of Export Financing Entity  
Hungarian Export Credit Insurance Ltd. and  Hungarian Export -Import Bank were established 
in 1994. The official export credit agency (ECA) is a private company limited by shares, which is 
solely owned by the State, but its funding is achieved through the capital market.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and  use per  programme  
• Export credit insurance covered EUR 6.7 million in 2019.  
• Official guarantees were not issued.  
• The value of outstanding officially supported export credits was EUR 9.9 million in 2019. 
4. Annual average premium rate s/fees per programme  
• For short-term export credit insurance, the annual average premium rate was  2% in 2019. 
• For medium and long-term insurance: N/A.  
• The annual average weighted interest rate for the credits was 1.32% in 2019. 
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. 13 months for 
year 2019.  
• For MLT  insurance: N/A.  G/AG/W/125/Rev.13/Add.2  
 
- 31 - 
 
  7. Export destination or group of destinations per programme  
As far as non -EU countries are concerned, the following destinations prevailed in 2019:  
Insurance cover: Azerbaijan; Turkey; Moldova, Republic of; Russian Federation; Honduras; Serbia.  
Credits: Russian Federation; North Macedonia, Republic of; Kosovo; Azerbaijan; Costa Rica.  
8. Programme  use by product or product group  
Cattle breeding, production of sweets (confection) food, drink, tobacco, wholesale of seeds.  G/AG/W/125/Rev.13/Add.2  
 
- 32 - 
 
  Ireland  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation  
Nil. 
2. Description of Export Financing Entity  
Nil. 
3. Total 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.13/Add.2  
 
- 33 - 
 
  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 for agricultural products. All the supported trans actions 
mentioned fall under risk cover (export credit insurance) and have been supported in conformity 
with the terms and conditions set out in article 15. (a) and (b) of the Nairobi Ministerial Declaration 
on Export Competition (WT/MIN(15)/45 — WT/L/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 program mes and use per program me 
EUR 2,466 ,812 
4. Annual  average premium rates/fees per program me 
1.30% . 
5. Maximum repayment terms per program me 
18 months . 
6. Annual average repayment period per program me 
10 months . 
7. Export destination or group of destinations per program me 
Export destinations: Saudi Arabia , Kingdom of;  Brazil ; China ; United Arab Emirates ; Egypt ; 
Indonesia ; Israel ; Malaysia ; Morocco ; Mexico ; Thailand and Ukraine . 
8. Program me use by product or product group  
Insurance Policy "Supplier Credit" . G/AG/W/125/Rev.13/Add.2  
 
- 34 - 
 
  Latvia  
1. Description of the programme (direct financing support, risk cover, government to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
Short -term export credit guarantees – short-term export credit  insurance for export transactions 
with deferred payment up to 730 days, for agricultural products up to 730 days (for export 
transactions of primary agricultural products deferred payment should not exceed 547 days).  
Risk cover: short -term export credit i nsurance 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 mem ber 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 Y2019) of export credit guarantees (specific for agricultural 
products):  EUR 0.50 million. 
4. Annual average premium rate s/fees per programme  
Approximately 0.46%.  
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  
30 days. 
7. Export destination or group of destinations per programme  
United Arab Emirates.  
8. Programme  use by product or product group  
Export credit guarantee program me is not limited to specific products or sectors.  
The following food -related sectors (C.10 by NACE 2 Classification) have been subject to the 
programme:  
10.2 - Processing and preserving of fish, crustaceans and mollus cs; 
10.3 - Processing and preserving of  fruit and vegetables;  G/AG/W/125/Rev.13/Add.2  
 
- 35 - 
 
  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 pr epared animal feeds;  
11.0 - Manufacture of beverages.  G/AG/W/125/Rev.13/Add.2  
 
- 36 - 
 
  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 2019 on regulation of providing 
export credit guarantees.  
2. Description of Export F inancing 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 agricultural 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 : EUR 230,200 . 
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 destinatio n, amount of the guarantee and 
the due date of deferred payments.  
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, United Arab Emirates, Ukraine, Belarus.  
8. Programme use by product or product group  
Grains , flakes, beer.  G/AG/W/125/Rev.13/Add.2  
 
- 37 - 
 
  Luxembourg  
1. Description of the programme (direct financing support, risk cover, government to 
government cr edit 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 dest inations per programme  
Nil. 
8. Programme use by product or product group  
Nil. G/AG/W/125/Rev.13/Add.2  
 
- 38 - 
 
  Malta  
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 av erage 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.13/Add.2  
 
- 39 - 
 
  The 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) Dutch Good Growth Fund; and  
3) Dutch Trade and Investment Fund.  
2. Description of Export Financing Entity  
Atradius Dutch State Business N.V. is the Export Credit Agency of the Netherlands.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use p er programme  
EUR 2 ,550,000 (= 1 specific DGGF transaction, existing contract: promise to cover issued in  2017, 
insurance policy provided in 2019) . 
4. Annual average premium rate s/fees per programme  
5.03%.  
5. Maximum repayment term s per programme  
18 months for all programmes (NB: the DGGF transaction under question 3 was issued (promise to 
cover) in 2017 under the repayment terms valid in 2017.  
6. Annual average repayment period s per programme  
2 (semi -annual instalments).  
7. Export destination or grou p of destinations per programme  
Egypt.  
8. Programme  use by product or product group  
Not applicable . G/AG/W/125/Rev.13/Add.2  
 
- 40 - 
 
  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 risk and bonds 
concerning letters of credit - facilities backed by the State Treasury.  
2. Description of Export Financ ing Entity  
KUKE S.A.: a joint stock company registered in Poland with a majority share held by the State 
Treasury that is mandated to provide export insuranc e backed by the State Treasury.  
KUKE S.A. extends also cover of domestic and export receivables on market conditions as well as 
contract guarantees.  
http:/www.kuke.com.pl/  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
Trade receivables insurance: USD  106,712,528.60.  
Bonds concerning LCs: USD  1,436,975.12.  
4. Annual avera ge premium rate s/fees per programme  
Trade receivables insurance: 0 .839%. 
Bonds concerning LCs: 0.731%. 
5. Maximum repayment term s per programm e 
Maximum repayment term cannot exceed 540 days.  
6. Annual average repayment period s per programme  
Trade receivables insurance: 54 days.  
Bonds concerning LCs: 360 days. 
7. Export destination or group of destinations per programme  
Geographic distribution of supported by KUKE export is dominated by Ukraine ; Russian Federation ; 
Belarus ; Serbia ; North Macedonia , Republic of . 
8. Programme  use by product or product group  
Meat, cer eals, fruits and vegetables, dairy products, soft drinks, agriculture products and other food 
products.  G/AG/W/125/Rev.13/Add.2  
 
- 41 - 
 
  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  
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.13/Add.2  
 
- 42 - 
 
  Romania  
1. Description of the programme (direct financing support, risk cover, government to 
gove rnment 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 export -credit 
insurance 2012/C 392/01;  
• Law No. 96/2000, as republished, regarding the organisation and functioning of Banca de 
Export -Import a Romaniei Exim Bank S.A., published in the Official Journal of Romania, Part  I, 
No. 260/18.04.2007 , as amended ; 
• Government Decision No. 534/2007, regarding th e establishment, responsibilities  and 
functioning of the Interministerial Committee for Financing, Guarantees and Insurance, 
published in the Official Gazette of Romania, Part I, No. 417/22.06.2007, as amended ;  
• Norm "Short -term export credit insurance, on behalf and for the account of the State, of 
non-marketable and temporarily non -marketable risks", published in Official Gazette of 
Romania, Part I, No 929/05.11.2018 . 
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 -marketable risks, in compl iance 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' medium and long -term cover does not apply to exports of agricultural commodities, which 
are outside the scope of the EU Regulation incorporating the OECD Arrangement on Officially 
Supported Export Credits.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
Nil. 
4. Annual average premium rate s/fees per programme  
2019: 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.  G/AG/W/125/Rev.13/Add.2  
 
- 43 - 
 
  Note: in compliance with the Nairobi Ministerial Decisi on of 19 December 2015 – WT/MIN(15)/45 – 
WT/L/980.  
6. Annual average repayment period s per programme  
Max. 18 months.  
Note: in compliance with the Nairobi Ministerial Decision of 19 December 2015 – WT/MIN(15)/45 – 
WT/L/980.  
7. Export destination or group of  destinations per programme  
In principle, EximBank is open for cover for non -EU and non -OECD countries that are not subject 
to EU and international sanctions.  
8. Programme use by product or product group  
In principle, EximBank  is open to cover all types and groups of agricultural products which obtain 
the export licence from the Agency for Payments and Intervention in Agriculture (APIA) . G/AG/W/125/Rev.13/Add.2  
 
- 44 - 
 
  Slovak  Republic  
1. Description of the programme (direct financing support, risk cover, gove rnment to 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
The Export -Import bank of the Slovak Republic (EXIMBANKA SR) covers support for export of the 
agricultural products within its portfol io 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 credi ts, export credit 
guarantees or insurance program mes and use per  programme  
The figures of programmes used per agricultural products are not recorded separately. Provided data 
are separated from overall dataset and selectively filtered by sector.  
Total valu e of exports (in million EUR) in 2019: 28.34 . 
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: 0,35% . 
5. Maximum repayment term s per program me 
EXIMBANKA  SR covers support for export of the agricultural products within its portfolio of financing 
and insurance services in compliance with international regulations for export credits of  EU, OECD 
and WTO, with maximum repayment term not exceeding 18 months.  
6. Annual average repayment period s per program me 
Annual average repayment period figures of programs used per agricultural products are not 
recorded separately. Provided data are separated from overall dataset and selectively filtered by 
sector.  
2019: 12 mo nths. 
7. Export destination or group of destinations per program me 
• Financing: Romania, Italy, Netherlands, Czech Republic.  
• Insurance cover: Romania, Hungary, Serbia, Czech Republic, Poland, Italy, Netherlands, 
Germany, Lithuania, Spain, Sweden, Ukraine.  
8. Program me use by product or product group  
Meat and meat products, dairy products, cereals and cereal products, beverages, tobacco products, 
edible products and various food products, animal feed, seeds.  G/AG/W/125/Rev.13/Add.2  
 
- 45 - 
 
  Slovenia  
1. Description of the programme (direct fi nancing 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 . 
Act Governing Insurance  and Financing of International Commercial Transactions, OJ RS No. 2/04, 
56/08 – ZSIRB and 82/15  
2. Description of Export Financing 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  
2019: 0.00 EUR . 
In the reporting year, 2019 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, Ljubljan a, 29.01.2019.  
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.13/Add.2  
 
- 46 - 
 
  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  
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.13/Add.2  
 
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  Sweden  
1. Description of the programme (direct financing support, risk cover, government t o 
government credit agreements or any other form of governmental export credit support) 
and relevant legislation   
Risk Cover (Guarantee for Trade Receivables and Letter of Credit Guarantee) . 
2. Description of Export Financing Entity  
EKN 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 us e per  programme  
SEK 78.6 Million in 2019.  
4. Annual average premium rate s/fees per programme  
Approximately 1 .65% in 201 9. 
5. Maximum repayment term s per programme  
180 days . 
6. Annual average repayment period s per programme  
Approximately 90 days in 201 9. 
7. Export destination or group of destinations per programme  
Bosnia and Herzegovina; China; India; Kenya; North Macedonia, Republic of; Russian Federation; 
Turkey; United Arab Emirates; Uganda; Ukraine.  
8. Programme  use by product or product group  
Confectio nary; coffee; vegetable oils and fats; flavouring; food stuff; frozen vegetables; mineral 
water; soft drinks; juice; beer; spirits; malt; powdered eggs; salted and smoked meat products; 
snacks.  G/AG/W/125/Rev.13/Add.2  
 
- 48 - 
 
  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 ag ainst 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 termination.  
UK Export Finance's powers are set out in th e Export and Investment Guarantees Act  1991 as 
amended by the Industry and Exports (Financial Support) Act 2009.  
https://www.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. The Minister of State for Trade and Investment has 
day to day respo nsibility for the operation of UKEF.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per  programme  
2019: GBP 0.06 million.  
4. Annual average premium rate s/fees per progra mme  
This information is not held . 
5. Maximum repayment term s per programme  
18 months . 
6. Annual average repayment period s per programme  
This information is not held . 
7. Export destination or group of destinations per programme  
Brazil, Mexico, Pakistan, Turkey, Ukraine.  
8. Programme  use by product or product group  
Whisky, health foods, wine, beer.  
 
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.13/Add.2  
 
- 49 - 
 
  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), which was 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. Descr iption of Export Financing Entity  
Pursuant to Section 9(4) of Cap. 1115, HKECIC 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 underwriti ng 
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 201 9: HKD 54 million.  
4. Annual average premium rates/fees per  programme  
Insurance premium is based on shipment value which is varied depending on the importing 
economies and payment terms of the transaction.  For the financial year ending 31 March 201 9, the 
annual average premium rate involving agricultural products is 0.4 0%. 
5. Maximum repayment terms per programme  
For the financial year ending 31 March 2019, 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 2019, the typical 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, pasta, flour, pastry and food preparations, et c. G/AG/W/125/Rev.13/Add.2  
 
- 50 - 
 
  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 I celandic Export Credit Guarantee is 
to provide 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 pr ojects in Iceland.  
The role is fulfilled by:  
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.   underta king 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 services;  
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 investments 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 p rogramme  
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 destina tions per programme  
Not applicable . G/AG/W/125/Rev.13/Add.2  
 
- 51 - 
 
  8. Program me use by product or product group  
Not applicable . G/AG/W/125/Rev.13/Add.2  
 
- 52 - 
 
  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:  
1. 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.  
2. 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.  
• Insurance facilities:  
Line of products: overseas investment insurance, export insurance, buyer 's default pay ment 
risk, political risk insurance.  
3. Other Form of Governmental Export Credit Support  
• National Interest Account:  
Special  assignment by the Government to support the national export program 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 ban ks, 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 Eximb ank'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.  G/AG/W/125/Rev.13/Add.2  
 
- 53 - 
 
  3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
Type of Facility  2018  2017  
Working Capital  2,567,003  17.2%  2,453,684  15.5%  
Investment  12,330,072  82.5%  13,296,879  84.2%  
Acceptance Receivable  42,852  0.3%  42,831  0.3%  
Insurance & Guarantee  0 0.0%  0 0.0%  
Total for Agricultural Sector  14,939,927  100.0%  15,793,394  100.0%  
Note:  value in million IDR.  
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 tenor : ≤ 1 year ; 
- Medium term tenor: 1 – 5 year s; 
- Long term tenor: > 5 year s. 
6. Annual average repayment periods per programme  
Not applicable. We do not have specific programme for agricultural sector.  On average, repayment 
for interest will be charge on monthly basis.  
7. Export destination or group of destinations per programme  
Indonesia Eximbank 's main export destination are as follow: ASEAN Countries, Japan, U nited States 
of America , China, Europe, South Korea, India, and others.  
8. Programme use by product o r 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  G/AG/W/125/Rev.13/Add.2  
 
- 54 - 
 
  HS Indonesia Eximbank 's Client Export Commodity as of 2016  Export Value 
(USD)  
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 . 
Legislation: Government Regulation No. 20 of 1983  
2. Description of Export Financing Entity  
Asuransi Asei Indonesia, Ltd (pr eviously 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 f oreign 
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 programme  
 2015  2016  2017  
Export Insurance  26,645  22,490  22,419  
Credit Insurance and Guarantee  65,712  41,657  93,691  
Suretyship  22,857  34,363  37,807  
General Insurance  531,204  338,862  194,690  
Note:  for all products (in million IDR) . 
5. Maximum repayment terms per programme  
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.13/Add.2  
 
- 55 - 
 
  Jamaica  
Role and Function of the National Export Import Bank of Jamaica (EXIM Bank)  
The National Export Import Bank of Jamaica (EXIM Bank) is the first EXIM Bank established in the 
Caribbean.  It plays a fundamental role in national development by providing a wide range of 
financing instruments at competitive interest rates to the  producti ve sector, including exporters, 
potential exporters and direct suppliers of goods and services to the exporting industry.  
Specific focus is placed on SMEs involved in non -traditional exports  such as Tourism, Manufacturing, 
Agro Processing, Mining, the Ser vice Industry, Communication and Technology and the  Creative 
Industry.  
EXIM's suite of trade financing facilities include  Lines of Credit , short and medium term loans, 
denominated in both US and Jamaica dollars, Discounting Facilities and Trade Credit Ins urance.   
1. Description of the programmes (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
Direct Financing Support : The EXIM Bank offers trade financing through its Insurance Policy 
Discounting Facility (IPDF). Policyholders under the Trade Credit Insurance scheme can access 80% 
financing on goods insured, by assigning the insurance policy as col lateral support. Funds are 
available for a period of 120 days at an interest rate of 12% per annum.  
Risk Cover : Risks covered under the TCI due to non -payment by the overseas buyers, include 
protracted default or insolvency/bankruptcy of the buyer.  
2. Desc ription of Export Financing Entity:  
The National Export Import Bank of Jamaica offers both trade financing and trade credit insurance 
to local agricultural producers.  
3. Total value of export of agricultural products covered in the past 12 months:  
• Insuranc e 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.13/Add.2  
 
- 56 - 
 
  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  http://nexi.go.jp/en/products/types/smes.html   
Export Credit Insurance  http://nexi.go.jp/en/products/types/export.html  
These programmes are all categorized as risk cover.  
Relevant legislation: Trade Insurance and Investment Act.  
2. Description of Export Financing Entity  
Nippon Export and Investment Insurance (NEXI) . 
 G/AG/W/125/Rev.13/Add.2  
 
- 57 - 
 
  G/AG/W/125/Rev.13/Add.2  
 
- 57 - 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  
 
Type of Insurance  Fiscal Year (April -March)  2016  2017  2018  2019  Total  Average  
(1995 -2019 ) 
Export Bill Insurance  Number of underwritten  274 255 207 208 7,816  - 
Value of export of agricultural products  1,578,407,381  1,597,238,475  1,319,687,997  1,319,050,393  34,732,065,858  1,389,282,634  
Export Credit Insurance for SMEs  Number of underwritten  252 309 352 540 2,032  - 
Value of export of agricultural products  1,077,496,761  1,224,213,780  1,700,812,049  2,323,646,034  8,699,538,197  579,969,213  
Export Credit Insurance  Number of underwritten  1,406  1,425  1,437  1,571  27,203  - 
Value of export of agricultural products  6,281,829,038  6,554,707,595  6,655,373,108  7,249,721,926  119,063,568,422  4,762,542,737  
Total / Number of underwritten  1,932  1,989  1,996  2,319  37,051  - 
Total/Value of export of agricultural products  8,937,733,180  9,376,159,850  9,675,873,154  10,892,418,353  162,495,172,477  6,499,806,899  G/AG/W/125/Rev.13/Add.2  
 
- 58 - 
 
  G/AG/W/125/Rev.13/Add.2  
 
- 58 - 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 FY201 9 are: 
10,518 thousand  yen (Export Bill Insurance)  
4,064 thousand yen (Export Credit Insurance for SMEs and AFF Sector)  
9,227 thousand  yen (Export Credit Insurance)  
Annual Average Premium fees by export of agricultural pr oducts (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 
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  
 
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  
 G/AG/W/125/Rev.13/Add.2  
 
- 59 - 
 
  G/AG/W/125/Rev.13/Add.2  
 
- 59 - Type of Insurance  Fiscal Year (April -March)  2016  2017  2018  2019  Total  Average  
(1995 -2019)  
Export Bill Insurance  Number of underwritten  274 255 207 208 7,816   
Premium fees  9,948,378  10,293,679  8,989,042  8,742,192  262,960,522  10,518,421  
Export Credit Insurance for SMEs  Number of underwritten  252 309 352 540 2,032   
Premium fees  7,717,971  8,749,411  11,368,000  15,239,524  60,962,533  4,064,169  
Export Credit Insurance  Number of underwritten  1,406  1,425  1,437  1,571  27,203   
Premium fees  13,506,069  17,602,930  17,385,894  15,153,265  230,663,881  9,226,555  
Total/Number of underwritten  1,932  1,989  1,996  2,319  37,051   
Total/Premium fees   31,172,418  36,646,020  37,742,936  39,134,981  554,586,936  22,183,477  
 
Average premium rates are not available.  
5. Maximum repayment terms per programme  
Regarding targeted transactions, the relevant policy had been amended at the end of 2017 to follow the Nairobi Ministerial Decision. (The maximum payment 
terms shall be no more than 18 months .) 
6. Annual average repayment periods per programme  
Not available.  
7. Export destination or group of destinations per program me 
Type of Insurance  Export destination or group of destinations (FY1995 - FY2019)  
Export Bill Insurance  Australia; Belgium; Brazil; Canada; Chile; China; Colombia; Commonwealth of the Northern Mariana Islands (USA); Croatia; Denm ark; 
Egypt; Finland; France; Germany; Greece; Guam (U SA); 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; Egypt; France; French Polynesia ; Germany; Guam; Hong Kong , China ; India; Indonesia; Israel; 
Italy; Korea , Republic of ; Kuwait , the State of ; Latvia; Lebanon; Maca o, China ; Malaysia; Mongolia; Myanmar; Netherlands; New 
Zealand; Philippines; Russia n Federation ; Saudi  Arabia, Kingdom of; Singapore;  Spain;  Sri Lanka; Switzerland; Chinese  Taipei ; Thai land; 
Turkey; Ukraine; United Arab Emirates ; United  States of America ; Viet Nam  
Export Credit Insurance  Argentine; Australia; Azerbaijan; Bahrain , Kingdom of ; Belgium; Bolivia , Plurinational  State of; Brazil; Cambodia; Canada; Ceuta  
(Spain); China; Colombia; Czech  Republic ; Denmark; Ecuador; Egypt; Finland; France; Germany; Hong Kong , China ; Hungary; India; 
Indonesia; Iran; Ireland; Israel; Italy; Jordan; Korea , Republic of ; Kuwait , the State of ; Latvia; Lebanon; Maca o, China ; Malaysi a; 
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; U nited Arab Emirates ; United Kingdom ; United States of 
America ; Viet  Nam 
 
 G/AG/W/125/Rev.13/Add.2  
 
- 60 - 
 
  G/AG/W/125/Rev.13/Add.2  
 
- 60 - 8. Program me use by product or product group  
Type of Insurance  HS codes of Products or Product groups (FY1995 - FY2019)  
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, 0508, 0602, 0603, 0704, 0709, 0710, 0714, 0804, 0806, 0807, 0808, 0809, 0810, 0901, 0902, 1006,  
1008, 1105, 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, 1006, 1008, 1101, 1102, 1104,  
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, 22 02, 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.13/Add.2  
 
- 61 - 
 
  - 61 - 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 In surance. (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 developm ent financial institution wholly owned by 
Government (through Minister 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 credi t 
guarantees or insurance programmes and use per programme  
For 2019, EXIM Bank has an exposure of RM608 million in direct financing of export from primary 
agriculture industry. Data is on aggregated basis rather than by programme.  
4. Annual average premium rates/fees per programme  
• Credit insurance /takaful  is risk priced based and according to commercial rate.  
• EXIM Bank 's pricing is based on Risk Based Pricing Model (RBPM). Each application is given 
an internal rating based on the Operating Spread + C redit Spread. The Operating Spread 
consist of Cost of Borrowing, Base Rate (LIBOR or KLIBOR), Overhead Cost and Liquidity 
Cost. The Credit Spread is basically the rate EXIM Bank charge based on the obligor 's credit 
rating/standing.  
 
Therefore, the all-in rate that the Bank charges are basically between 5% to 7% for 
USD loans and 6% to 8% for MYR loans.  
 
As for the Bank 's Credit Insurance/Takaful Product the assessment is based on several 
factors as well such as the exposure country, sales turnover, number of buyers, sum insured 
and others. For Short Term, the premium/wakalah fee ranges between 0.3% to 1% as for 
Medium -Long Term the premium/wakalah fee ranges between 1.2% to 2.5%.  
5. Maximum repayment terms per programme  
Not applicable as there is no subsidy  provided by EXIM bank. Facilities offered by EXIM Malaysia are 
based on commercial basis (e.g. lending terms based on market rate) rather than preferential rate 
due to subsidies, grants or equivalent.  
In carrying the Bank 's lending activities, it sources its funds from the Debt Capital Market and 
bilateral borrowings from various lenders.  
As for Trade Financing, the tenure for Pre -Shipment is up to 120 days and for Post -Shipment is up 
to 180 days. As for Cross Border Financing facilities, the tenure of a l oan 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.13/Add.2  
 
- 62 - 
 
  - 62 - financing of projects, gestation period may be allowed subject to the Cash flow projection by the 
customer.  
6. Annual average repayme nt 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 between four to five years.  
7. Export destination or group of destinations per programme  
No specification in relation to destinations per programme.  
Additional Answer : EXIM Bank as at 20 19 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 pr oduct is divided into Short Term and Medium -Long Term. For more detail 
information on the products, please visit : https://www.exim.com.my/index.php/en/islamic -banking  G/AG/W/125/Rev.13/Add.2  
 
- 63 - 
 
  - 63 - 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 governme ntal export credit support) and relevant legislation  
Pursuant to New Zealand 's Public Finance Act 1989, the New Zealand Export Credit office  (NZEC) 
was established to provide trade credit insurance and financial guarantee products to New  Zealand 
exporting firms or banks. NZEC is New Zealand 's export credit agency. It does not provide direct 
financing.  
With all its programmes, NZEC complies with New Zealand 's international trade obligations and other 
international guidelines as they apply to export credits. As a result, NZEC ensures compliance with 
the Nairobi Decision in respect to export credit support for agricultural products.   
Short Term Trade Credit Insurance covers the risk of a foreign buyer defaulting on their short -term 
repayments due to specific co mmercial or political events. NZEC can only provide this product for 
non-marketable risks and/or where private insurers lack the capacity. It also provides co -insurance 
(top-up cover) policies to support the private insurers ' capacity.   
A Loan Guarantee ca n be provided to an exporter 's bank to enable it to provide additional short -term 
or seasonal funding to support an SME exporter 's working capital needs.   
Over the last seven years, NZEC 's commercial support of agricultural products is predominately via 
its short -term trade credit insurance policy. Under this program the maximum level of commercial 
and political risk cover was 100% (for letters of credit cover) and the lowest was 50% coverage.  
2. Description of Export Financing Entity  
NZEC is New Zealand 's export credit agency, and is a commercial unit operating within the 
New Zealand Treasury. Its obligations to third parties are guaranteed by the New  Zealand 
government through a Minister of Finance delegation.  The provision of NZEC 's programs 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  
Total annual value of Agricultural Exports supported by 
NZEC (in NZD million)  76.4 115.2  30.7 44.5 95 69 115 
Average Policy Exposure (in NZD million)  1.40 1.35 3.24 4.3 4.2 2.8 1.8 
Average Percentage of cover  80% 85% 90% 92% 96% 95% 90% 
 
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 buye r'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 l etter of credit guarantee).   
However,  NZEC does monitor and measure the adequacy of its premium rates through Loss ratio 
calculations (Total Claims Paid/Total Gross Written Premium). Since 2009, NZEC 's loss ratio on its 
policies issued in support of agricu ltural products is 3.46%. This means that for every $1 received 
in premium, less than 4 cents has been paid in claims.   G/AG/W/125/Rev.13/Add.2  
 
- 64 - 
 
  - 64 - 5. Maximum repayment terms per programme  
As a general principle, the repayment term should not exceed the useful life of the exported go ods 
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 programs.  
The maximum repayment term allowable under NZEC 's Short Term T rade Credit Insurance program 
is 12 months, and the average repayment term during 2019 was 2.5  months.  
The maximum repayment term that has been provided under the Loan Guarantee product for 
agricultural products was seven  months, to support the working cap ital cycle of a wine exporter. 
However, during 2019, there were no loan guarantees issued in support of agricultural exports.  
6. Annual average repayment periods per programme  
 2013 2014 2015 2016 2017 2018 2019 
Annual average repayment 
periods  3  
months  3  
months  3 
months  2.5 
months  3  
months  3.5  
months  2.5  
months  
 
7. Export destination or group of destinations per programme  
The export destinations of the agricultural products listed below was not exclusive to a geographical 
area and spanned Australia, Europe, Asia, North and Latin America, Pacific, Middle East and 
North  Africa.  
8. Programme use by product or product group  
The agricultural products NZEC supported during the period 2013 – 2019 included: apples, kiwifruit, 
frozen fruit, wine, butter, fruit paste, fruit juice, seeds (pea, lucerne and mustard), milk powder, 
meat, honey, mineral water, pelts, hides, wool, potatoes, dairy cattle for breeding purposes, olive 
extract capsules and deer velvet.  G/AG/W/125/Rev.13/Add.2  
 
- 65 - 
 
  - 65 - Paraguay  
Export Credit, Export Cred it 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 intend ed, 
in their entirety, for medium -sized producers and corporate agriculture firms whose products or 
by-products may be destined for export.  
I. National Development Bank  
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" . 
1. Productive Sector Investment Loans  
ELIGIBLE RECIPIENTS  
Natural or legal persons who are involved in production in the agricultural, industrial, trade 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/or supplemented through additional  activities.  
Use 
Credit Line loans are intended for the financing of:  
Use  Term  
(year)  Grace period  Interest payments  
Purchase of feeder livestock  3 Up to 1 year  Semi-annual  or 
annual  
Retention of breeding females  7  Up to 2 years   
Purchase of production animals  
(breeding cows and bulls)  10  Up to 2 years  Semi-annual or 
annual  
Investments in genetic improvement  10  Up to 2 years  Semi-annual or 
annual  
Physical infrastructure and improvements to 
structures and facilities related to productive sectors  10  Up to 2 years  Semi-annual or 
annual  
Purchase of machinery, equipment and accessories  10  Up to 2 years  Semi-annual or 
annual  
 Pasture establishment for livestock production 
systems  
(intensive, semi -intensive, extensive and 
silvopastoral)  10  Up to 2 years  Semi-annual or 
annual  
General investments for the development of 
productive sector activities  10  Up to 2 years  Semi-annual or 
annual   
 
Under this project, funds may not be used for the following:  
- Activities that may affect the environment  
- Working capital  
INTEREST RATE  
11% annually on balances  G/AG/W/125/Rev.13/Add.2  
 
- 66 - 
 
  - 66 - 2. Investment Loans for Commercial Reforestation (National Development Bank – 
Development Finance Agency)  
ELIGIBLE RECIPIENTS  
Natural and/or legal persons who own forestry -related establishments, reside in the national 
territory, propose viable forestry projects and demonstrate knowledge of and skill in the 
manage ment of afforestation.  
MAXIMUM LOAN AMOUNT  
Up to 80% (eighty per cent) of the total cost of the Investment Project, with the following ceilings:  
For start -up forestry projects, up to the equivalent in guaraníes of USD  500,000.  
For ongoing forestry projects , up to the equivalent in guaraníes of USD  1,000,000.  
USE 
Exclusively for the financing of commercial forestry projects involving the exotic species 
Eucalyptus  grandis  or Eucalyptus camaldulensis . 
INTEREST RATE  
11.00% annually on balances, for forestry ent erprises in operation.  
13.00% annually on balances, for applicants starting out in forestry.  
REPAYMENT PERIOD AND STRUCTURE  
For forestry projects for producing timber: up to 12 (twelve) years  
REPAYMENT STRUCTURE  
years 1 to 4   Interest  
years 5 to 7   5% of c apital + interest  
years 8 to 12  17% of capital + interest  
For forestry projects for producing biomass: up to 7 (seven) years  
REPAYMENT STRUCTURE  
years 1 to 4   Interest  
year 5    20% of capital + interest  
year 6    30% of capital + interest  
year 7    50% of capital + interest  
II. LIVESTOCK FUND  
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 produc ers. 
Vision: To be the leading financial institution for sustainable development in the livestock value 
chain, with an emphasis on small and medium -sized producers.  G/AG/W/125/Rev.13/Add.2  
 
- 67 - 
 
  G/AG/W/125/Rev.13/Add.2  
 
- 67 - 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  
 
Agricultural 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  
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 
annua l 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.13/Add.2  
 
- 68 - 
 
  - 68 - 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 a gribusinesses  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  
 
III. AGRICULTURAL EQUIPMENT BANK (CAH)  
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 such, 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.  
1. Productive Investment P G - p14 
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 one year. 
Term for investment capital: up to seven  years. 
Current interest rate: 18% annually on balances. Interest rate on arrears: an additional 
4.5%  annually on balances.  
Use of the loan:  
Working capital: purchase of improved seeds, fertilizers, hired labour, other inputs.  
Investment capital: preparation of land, structures, facilities, tools, machinery, other investments 
for production.  
 G/AG/W/125/Rev.13/Add.2  
 
- 69 - 
 
  - 69 - 2. Proagro CAH  
 
Scope: National . 
Amount for investment and working capital: Up to a maximum amount of PYG  50,000,000.  
Term for working capital: up to one year. 
Term for investment capital: up to three 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.  G/AG/W/125/Rev.13/Add.2  
 
- 70 - 
 
  - 70 - 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 rel evant legislation  
The Russian Export Center Group [REC 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 the form of pure insurance cover. EXIAR operates under 
Government Decree No. 964 of 22 November 2011 (amended on 12 November 2018).  
 
- JSC Eximbank of Russi a [REB] provides lending support towards exports. REB operates 
under the Government Decree No. 16 "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 27 December 2018), Fe deral 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 2019 total value of export of agricultural products covered by:  
EXIAR: USD 914.60 million . 
REB: USD 78.04 million . 
4. Annual average premium rates/fees per programme  
In 2019 annual average premium rates were:  
EXIAR: 2%.  
REB: 10%.  
5. Maximum repayment terms per programme  
In 2019 maximum repayment terms were:  
EXIAR: up to 15 months.  
REB: up to 12 months.  
6. Annual average repayment periods per programme  
EXIAR: 5 months.  
REB: 5 months.   G/AG/W/125/Rev.13/Add.2  
 
- 71 - 
 
  - 71 - 7. Export destination or group of destinations per programme  
Armenia; Australia; Azerbaijan; Belarus; Belgium; Bulgaria; China; Colombia; Cyprus; 
Czech  Republic; Estonia; Finland; France; Germany; Greece; Hungary; Israel; Italy; J apan; Jordan; 
Kazakhstan; Kyrgyz Republic; Lithuania; Luxembourg; Maldives; Moldova, Republic of; Mongolia; 
Netherlands; New Zealand; Poland; Qatar; Saudi Arabia, Kingdom of; Seychelles; Singapore; 
Switzerland; Turkey; United Arab Emirates; United Kingdom;  Uzbekistan.  
8. Programme use by product or product group  
The exports of agricultural products supported by EXIAR in 2019  
Product or product group  Value of exports,  USD million  
Fats and oils  113.89  
Meat and meat products  79.53  
Foodstuffs  290.27  
Cereals and products of the milling industry  323.70  
Vegetables and fruits  5.11 
Other agricultural products  102.10  
Total 914.60  
 
The exports of agricultural products supported by REB in 2019  
Product or product group  Value of exports, USD million  
Fats and oils  42.07  
Cereals and products of the milling industry  5.53 
Other agricultural products  30.44  
Total 78.04  
 
 G/AG/W/125/Rev.13/Add.2  
 
- 72 - 
 
  - 72 - Switzerland  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
The Swiss Export Risk Insurance (SERV) agency does not grant export credits. It serves only to 
provide cover within the abov e-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 201 9 
were non -agricultural goods. No instruments specific to agr icultural 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 credits, export credit 
guarantees or ins urance 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 exc eeded 180 days.  
6. Annual average repayment periods per programme  
7. Export destination or group of destinations per programme  
8. Programme use by product or product group  
Practically only non -agricultural goods. The demand for insurance in the agricultura l sector has been 
negligible.  
 
4 Federal Law on Swiss Insurance against Export Risks (RS 946.10):  
http://www.admin.ch/opc/fr/classified -compilation/20041349/index.html . G/AG/W/125/Rev.13/Add.2  
 
- 73 - 
 
  - 73 - 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 legislation  
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 revolv ing 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 coverage up to a maximum of 90% of loss realized in export of goods 
to buyers in other countries, whether it is the loss caused by commercial risk or political 
risk including prohibition of international money transfer. The service is available for 
exporters offering payment terms of no 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 Open Acco unt (O/A) for payment defaults by buyers.  
2. Description of Export Financing Entity  
EXIM Thailand operates its business under the Ministry of Finance 's supervision with the State 
Enterprise Policy Office (SEPO) tasked to monitor the Bank 's operational performance.  
EXIM 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 fr om the 
general public.  
EXIM Thailand is a state -own financial institution with a mandate to promote and support 
Thai exporters, importers, both domestic and overseas.  
3. Total value of export of agricultural products covered by export credits, export cred it 
guarantees or insurance program mes and use per program me 
a.   Export Credit Programme : Total value of agriculture products covered by the 
programme is THB 3,107.61  million in 2016 , THB 5,522.2  million in 2017,  
THB 8,791.20  million in 2018.  
b.   Export Credit Insu rance Programme : Total value of agriculture products covered by 
the programme is THB 2,174.88  million in 2016 , THB 2,800.3  million in 2017,  
THB 4,941.10  million in 2018.  
4. Annual average premium rates/fees per program me 
a.   Interest rates : Interest rates that EXIM Thailand charges exporters are determined by 
market mechanism.  G/AG/W/125/Rev.13/Add.2  
 
- 74 - 
 
  - 74 - Reference Rates of EXIM Thailand and Large Thai Commercial Banks in 2016 , 2017, 2018  
Banks  2016  2017  2018  
EXIM Thailand  6.250%  6.250%  6.250%  
Bangkok Bank  6.250%  6.250%  6.250%  
KASIKORNBANK  6.250%  6.250%  6.250%  
Siam Commercial Bank  6.275%    
Krung Thai Bank  6.275%  6.275%  6.275%  
Source:   EXIM Thailand . 
b.   Fee/Premium rates : Fee for analyze exporter 's credit is around 2,000 -3,000 THB/year, 
while premium rates depend on the insured amount, as stated in below table . 
Insured Amount  Premium Rate  
over THB 100 Million but not exceeding   
THB 200 Million  start from 0.35% of insured amount  
over THB 50 Million but not exceeding   
THB 100 Million  start from 0.38% of insured amount  
not exceeding THB 50 Million  start from 0.44% of insured amount  
Source:  EXIM Thailand . 
5. Maximum repayment terms per programme  
a.   Export Credit Programme:  Maximum period of 180 days . 
b.   Export Credit Insurance Programme:  Maximum period of 180 days . 
Both Programmes comply with the condition that maximum repayment shall be no more 
than 18 months.  
6. Annual average repayment periods per programme  
a.   Export Credit Programme:  Maximum period of 180 days  
b.   Export Credit Insurance Programme:  Maximum period of 180 days  
7. Export destination or group of destinations per programme  
a.   Export Credit Programme:  Export destinations under this scheme are not available.  
b.   Export Credit Insurance Programme:  Top five export destinations under this scheme 
consist of North Ameri ca, Asia, Australia, and Europe . 
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/Chill ed/Frozen Poultry Cuts ; 
Other Chilled or Frozen Meat ; 
Lac and Wax . 
b.   Export Credit Insurance Programme:  
Rice; G/AG/W/125/Rev.13/Add.2  
 
- 75 - 
 
  - 75 - Fresh/Chilled/Frozen Vegetables and Fruits ; 
Spices and Medicinal Plants ; 
Other Agricultural Crops . G/AG/W/125/Rev.13/Add.2  
 
- 76 - 
 
  - 76 - 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 lin e 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 fac ility 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 fac ility 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  
4) 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.  Descrip tion 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 susta in employment through the provision of short term pre and post 
shipment financing, term loans, guarantees and export credit insurance coverage to the exporting 
community.  
The EXIMBANK provides financing for companies involved in the downstream agriculture  industries.  
These are defined as outputs, both intermediate products to which further value is added and final 
goods, which can be sold through wholesale and retail chains.  
The bank emerged out of what was formerly the Trinidad and Tobago Export Credit Insurance 
Company Limited (EXCICO), 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 I nstitution (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.13/Add.2  
 
- 77 - 
 
  - 77 - 3.  Total Value of Export of Agricultural Products covered by export credits, export credit 
guarantees or insurance programmes and use per program me 
The bank has provided funding for companies involved in Agro processing in the following areas:  
Agro  Processing Sector  Facility Totals (TTD)  
Seasonings  9,000,000  
Non Alcoholic Beverages  2,000,000  
Chocolates  2,500,000  
Meats  2,100,000  
Rice and Grain  78,000,000  
 
4.  Annual Average premium rates/fees per program me 
• Revolving Pre -shipment Facility : Rates range from 6.5% to 9% annually and is dependent 
of a range of factors that determine the risk of the credit.  
• Demand Loan : Rates range from 6.5% to 9% annually and is dependent of a range of factors 
that determine the risk of the credit.  
• Revolving Post Shipment Discounting Facility : Rates range from 6.5% to 9% annually 
and is dependent of a range of factors that determine the risk of the credit.  
• Export Credit Insurance : Insurance premium rate ranges between1.5% to 2.5% per 
shipment insured.  
5.  Maximum  Repayment terms per program me 
• Revolving Pre -shipment Facility : Repayment terms are flexible between 0 -180 days.   
• Demand Loan : Repayments terms range from one to five  years.  
• Revolving Post Shipment Discounting Facility : Repayment terms are flexible between  0-
180 days.   
• Export Credit Insurance : The terms of this product is determined by the credit terms offered 
by the exporter . 
6.  Annual Average repayment periods per program me 
• Revolving Pre -shipment Facility : Repayment terms are flexible between 0 -180 days.  
• Demand Loan : Repayments terms range from one to five  years.  
• Revolving Post Shipment Discounting Facility : Repay ment terms are flexible between  0-
180 days.   
• Export Credit Insurance: The terms of this product is determined by 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.  
8.  Program me use by product or product group  
The following pr oduct groups  make use of the major program mes offered by the EXIMBANK  G/AG/W/125/Rev.13/Add.2  
 
- 78 - 
 
  - 78 - 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.13/Add.2  
 
- 79 - 
 
  - 79 - Turkey  
Consistent with the Bali Ministerial Declaration on Export Competition. Members shall 
continue to provide information on Export Credit, Export Credit Guarantees or Insurance 
Programs within the context of an annual examination process, ba sed 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 spec ific financing facility, exporters in agricultural and food 
sectors can benefit from the export credit, export credit insurance and international loans 
programmes under the same conditions with all other exporters in other sectors.  
In this context, descri ption and general information about related insurance programmes and 
international loans, in line with the Ministerial Decision, is provided below.  
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 export receivables arising from a 
single speci fic sales contract. Investment and capital goods and services of Turkish origin with a 
more than one year payment term are eligible under this program.  
B. International Loans Programs  
Turk Eximbank can provide medium/long term financial support in the fo rm of direct lending for the 
cost of goods and services to be supplied from Turkey in the amount not exceeding 85% of the 
export contract value. The objective of the International Loans Programs is to provide financing to 
the foreign buyers/employers of Tu rkish exporters/contractors/shipbuilders.  
Buyer's Credits Through Foreign Banks or Sovereign Guarantee programs 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.  
The borrowers are sovereigns or those foreign banks that meet the eligibility criteria.  
Buyer's  Credits Through Domestic Banks program 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 the Buyers who import Turkish goods from Turkey, 
through their branches, subsidiaries and correspondent banks operating overseas.  G/AG/W/125/Rev.13/Add.2  
 
- 80 - 
 
  - 80 - 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 Turk ey. Details are available 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  
2019: USD 1.324.347.174 (for short term export credit insurance programme).  
2019: N.A. [for medium -long term insurance programme]  
2019: N.A. [for International Loans Programs (Buyer Credit Program)].  
4. Annual average premium rates/fees per programme  
2019: 0.31% (for export credit insurance programme).  
2019: N.A. (for medium -long term insurance programme)  
2019: N.A. [For International Loans dedicated to the consumer goods (including agricultural 
produc ts)]. 
5. Maximum repayment terms per programme  
2019: 360 days (for export credit insurance programmes).  
2019: N.A. (for medium -long term insurance programme ) 
2019: Currently, maturity of the any export facility provided for the export of non -durable consu mer 
goods (including agricultural products) under International Loans Programs cannot be longer than 
12 months.  
6. Annual average repayment periods per programme  
2019: 31 – 120 days (for export credit insurance programme).  
2019: N.A. (for medium -long term  insurance programme ) 
2019: N.A. (For International Loans dedicated 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 ; Costa Rica ; Côte D'Ivoire ; Croatia ; Curaçao ; 
Czech  Republic ; Democratic Republic of the Congo ; Denmark ; Djibouti ; Dominica ; 
Dominican  Republic ; Ecuador ; Egypt ; El Salvador ; Equatorial Guinea;  Estonia ; Ethiopia ; Fiji; 
Finland ; France ; French Guiana ; French Polynesia ; The Gambia ; Georgia ; Germany ; Ghana; 
Gibraltar ; Greece ; Grenada ; Guadeloupe ; Guatemala ; Guinea ; Guyana ; Haiti; Honduras ; 
Hong Kong, China;  Hungary ; India; Indonesia ; Ireland ; Israel ; Italy; Jamaica ; Japan ; Jordan ; 
Kazakhstan ; Kenya ; Korea, Republic of; Kosovo ; Kuwait , the State of ; Kyrgyzstan ; Latvia ; Lebanon ; 
Liechtenstein ; Lithuania ; Luxembourg ; Madagascar ; Malaysia ; Maldives ; Mali; Malta ; Martinique ; 
Mauritania ; Mauritius ; Mayotte ; Mexico ; Moldova , Republic of;  Mongolia ; Montenegro ; Morocco ; 
Myanmar ; Namibia ; Nepal ; Netherlands; New Zealand ; Nicaragua ; Niger ; Nigeria ; North  Macedonia ; 
Norway ; Oman ; Pakistan ; Palestine ; Panama ; Papua New Guinea ; Paraguay ; Peru; Philippines ; 
Poland ; Portugal ; Puerto Rico ; Qatar ; Reunion ; Romania ; Russia n Federation ; Rwanda ; 
Saint Vincent and the Grenadines; Samoa ; San Marino ; Saudi Arabia , Kingdom of ; Senegal ; Serbia ; 
 
5 Agricultural products and processed foods.  G/AG/W/125/Rev.13/Add.2  
 
- 81 - 
 
  - 81 - Seychelles ; Sierra Leone ; Singapore ; Slovak  Republic ; Slovenia ; Somali ; South Africa ; Spain ; 
Sri Lanka ; Sudan ; Suriname ; Sweden ; Switzerland ; Chinese Taipei ; Tajikistan ; Tanzania ; Thailand ; 
The Turkish Republic Of Northern Cyprus ; Togo; Trinidad and Tobago ; Tunisia ; 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 progr ammes and export 
credit insurance programmes.  G/AG/W/125/Rev.13/Add.2  
 
- 82 - 
 
  - 82 - United States  of America  
1. Description of the programme s 
a.   USDA: Export Credit Guarantee Program (GSM -102) 
The U.S. Department of Agriculture's (USDA) GSM -102 programme  provides credit guarantees to 
assist in the financing of commercial exports of U.S. agricultural products. The GSM -102 programme  
guarantees credit extended by the private banking sector in the United States (or, less commonly, 
by the U.S. exporter) to app roved foreign banks using dollar -denominated, irrevocable letters of 
credit for purchases of U.S. food and agricultural products by foreign buyers. The terms of the 
commercial financing extended must be consistent with the credit guarantee but are not othe rwise 
dictated under the programme . The Commodity Credit Corporation  (CCC) is a government -owned 
and operated entity within the USDA, which issues the credit guarantees. GSM -102 covers credit 
terms of up to 18 months, but maximum terms may be lower based o n risk. CCC  guarantees 
payments due from approved foreign banks to exporters or financial institutions in the United States. 
However, the financing must be obtained through normal commercial sources. Typically, 98% of 
principal and a portion of interest ar e 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 programme  allows 
applicants to increase their export sales by limiting international risk, offering credit to international 
buyers, and enabling access to working capital funds. The Exp ort 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 Bu yer Credits; and Multi -Buyer Policies. No ExIm programme  is designed to 
support agricultural products specifically, rather agricultural products are treated as general exports 
and receive no special preference or treatment. Like other products, agricultura l products may 
qualify for ExIm insurance on terms up to 360  days and qualify for 98 % coverage for any commercial 
or political losses. The export items must meet ExIm's U.S. content requirements as outlined at 
http://exim.gov/generalbankpolicies/content/short -term-content -policy.cfm . 
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 entity 
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 federal ag ency 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 gu arantees, export -credit insurance and 
financing to help foreign buyers purchase U.S. goods and services.  G/AG/W/125/Rev.13/Add.2  
 
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  - 83 - 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 for 
U.S. Fiscal Year6 2019 was US D 2,024,006,715 . 
b.   ExIm: In U.S. Fiscal Year 2019, the U.S. Export -Import Bank insured shipments of agricultural 
products with an estimated export value of USD  381,878,987.   
4. Annual average premium rates/fees per programme  
a.   USDA: For U.S. Fiscal Year 201 9, the average fee for the GSM -102 programme  was USD  0.47 
per USD 100 of guarantee  coverage.  
b.   ExIm: For U.S. Fiscal Year 201 9, weigh ted average premium (by shipment value insured) 
charged on short term insurance of agricultural products was USD  0.5358  per USD 100 of 
coverage.  
5. Maximum repayment terms per programme  
a.   USDA: For U.S. Fiscal Year 201 9, the maximum repayment term for the GSM -102 programme  
was 18  months.  
b.   ExIm: For U.S. Fiscal Year 201 9, 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 201 9, the average repayment period for the GSM -102 programme  
was 12. 2 months.  
b.   ExIm: For U.S. Fiscal Year 201 9, the typical repayment period for the agricultur al products under 
the Export Credit Insurance Program is 31-60 days; the average repayment period was 48 days.7 
7. Export destination or group of destinations per programme  
a. USDA: GSM -102 programme  for US  Fiscal Year 201 9 
Export Destinations  
Africa and Middle East  
Asia 
Caribbean  
Central America  
Mexico  
South America  
South Korea  
Turkey  
 
6 The U.S. Fiscal Year runs from 1 October – 30 September.  
7 The average repayment  period value for U.S. Fiscal Year 2019 was lower when compared to 2018 due 
to a change in how the value is reported, not as a result of any programmatic changes or market conditions. 
For 2019, ExIm took a weighted average of deals based on their shipment payment term to give a more 
accurate assessment of the average repayment period.  G/AG/W/125/Rev.13/Add.2  
 
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  - 84 - b. ExIm: Export Credit Insurance programme  for US  Fiscal Year  2019 
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 201 9 
Commodities  Value of Exports  for FY 2019  
(in USD)  
Corn 774,074,378  
Corn Gluten Feed   947,375   
Corn Gluten Meal   9,278,528  
Cotton  22,870,078   
Dairy Cattle  4,662,500  
Distiller Dry Grains   19,070,298   
Rice  9,890,641   
Soybean Meal   321,865,329   
Soybean Oil   64,777,713   
Soybeans   478,299,122   
Wheat/Flour   317,445,232   
Wine  825,521  
b. ExIm: Export Credit Insurance programme  shipments of agricultural commodities for 
US Fiscal Year 201 9 
Product Description  Shipment Amount for FY 
2019 
(in USD)  
Alcoholic Beverages  15,267,570.50  
Animal feed and supplements  34,383,033.82  
Confectionery  7,566,669.38  
Corn 3,597,966.16  
Cotton  61,282,035.07  
Dairy and dairy products  1,463,333.00  
Eggs  19,664,966.36  
Flour  6,042,167.37  
Grains and Beans  16,133,368.00  
Honey  19,310.26  
Live Trees, Plants, Cut Flowers  2,706,604.43  
Miscellaneous food product  151,164,572.68  
Oilseeds and vegetable oil   11,370,193.53  
Other farm product raw material  43,170,332.96  
Processed foods including canned and frozen  8,046,863.47  
 G/AG/W/125/Rev.13/Add.2  
 
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  - 85 - 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 p rogramme  
4. Annual average premium rates/fees per programme  
5. Maximum repayment terms per programme  
6. Annual average repayment periods per programme  
7. Export destination or group of destinations per programme  
8. Programme use by product or product group  
1. Investment credit and export credit of the State: Following the Decree 75/2011/ND -CP and 
Decree 54/2013/ND -CP dated 30/8/2011 of investment credit and export credit of the State:  
The exporters have export contracts and foreign importers importing goods  contracts under the list 
of commodities for export credit loans are the loans for the contract (Ministry of Finance, the State 
Bank) . 
Scope and adjusting object  
Scope of the Decree, including:  
a.   Investment credit, including: investment loans and investment support 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 (hereina fter 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 an d individuals 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 funds 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 loans used for the right purpose; repayment 
of principal and interest in full and on time according to the signed credit agreement; 
full implementation of the commitments in the contract and the provisions of this Decree.  G/AG/W/125/Rev.13/Add.2  
 
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  - 86 - 4. The list of pr ojects eligible for investment credit and catalog ue items of export credit loans by 
government regulations.  
Loan Conditions:   
The business must  have the following conditions:  
- There are plans for aquaculture for export is effectively the Viet Nam Developmen t 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 lawfull y operating 
in Viet  Nam for the property formed from loans subject to compulsory insurance during the 
term of the loan;  
- Enterprises have to perform accounting, financial reporting in accordance with law; annual 
financial statements must be audited by an ag ency, an independent audit.  
Loan rates:  
Maximum lending rates by 85% of the total demand for aquatic animal feed for export under the  plan 
was the Vietnam Development Bank appraisal and loan approval, and to ensure the loan level 
maximum for each object is  borrowed does not exceed 15% of actual charter capital of 
Vietnam  Development Bank.  
Loan term:  
The loan term is determined by the ability to withdraw funds in accordance with the characteristics 
of each loan plan to buy feed seafood export has been servin g the Vietnam Development Bank 
appraisal and approval loans, but the lending period for each loan not exceeding 12 months.  
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