G/AG/W/125/Rev.6/Add.2  
 
10 May 2017 
(17-2506) Page: 1/61 
Committee on Agriculture    
 
EXPORT SUBSIDIES, EX PORT CREDITS, EXPORT  CREDIT GUARANTEES  
OR INSURANCE PROGRAM MES, INTERNATIONAL F OOD AID  AND 
AGRICULTURAL EXPORTI NG STATE TRADING ENT ERPRISES  
BACKGROUND DOCUMENT BY THE SECRETARIAT1 
Export Credits, Export Credit Guarantees or Insurance Pr ogrammes  
Addendum  
This addendum refers to and must be read in conjunction with document G/AG/W/125 /Rev. 6. 
It provides information on the use of export credits, export credit guarantees and insurance 
programmes (hereinafter referred to as "export financing support") provided by Members for the 
export of agricultural products , as described in part B  of document G/AG/W/125 /Rev. 6. 
 
_______________  
 
 
                                                
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 pr ovide 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.6/Add.2  
 
- 2 - 
 
  TABLE OF CONTENT S 
Australia  ................................ ................................ ................................ ............................  3 
Brazil  ................................ ................................ ................................ ................................ . 7 
Canada  ................................ ................................ ................................ ..............................  9 
Colombia  ................................ ................................ ................................ .......................... 16 
European Union  ................................ ................................ ................................ ................. 18 
Iceland  ................................ ................................ ................................ ............................. 35 
Jamaica  ................................ ................................ ................................ ............................ 36 
Japan  ................................ ................................ ................................ ............................... 37 
Malaysia  ................................ ................................ ................................ ........................... 42 
New Zealand  ................................ ................................ ................................ ..................... 43 
Russian Federation  ................................ ................................ ................................ ............. 45 
Switzerland  ................................ ................................ ................................ ....................... 47 
Thailand  ................................ ................................ ................................ ........................... 48 
Trinidad and Tobago  ................................ ................................ ................................ ........... 48 
Turkey  ................................ ................................ ................................ .............................. 51 
United States of America  ................................ ................................ ................................ ....57 
Viet Nam  ................................ ................................ ................................ .......................... 60 
 
  
  G/AG/W/125/Rev.6/Add.2  
 
- 3 - Australia  
The Export Finance and Insurance Corporation ( Efic) is the only government entity that provides export finance in Australia.  This is a self -funded organisation 
that operates in accordance with commercial principles. E fic was established in it s current form on 1 November 1991 under the Export Finance and Insurance 
Corporation Act 1991 as a statutory corporation wholly owned by the Commonwealth of Australia. E fic has no agriculture specific export financing program mes. 
The Efic website is locate d at http://www.efic.gov.au . 
Export Credit, Export Credit Guarantees or Insurance Programme s (Export financing)  
Program me 
Title Category of 
Support  Description of Program me Annual average 
premium rates/fees 
per progra mme Maximum 
repayment 
terms per 
program me Annual average 
repayment 
periods per 
program me Export destination 
or group of 
destinations per 
program me 
(2016)  Programme use by 
product or product 
group (2016)  
Export 
Contract Loan  Direct Financing 
Support  Efic provides a loan to an Australian exporter 
or company in an export -related supply 
chain. The loan allows the Australian 
company to deliver on a contract with an 
overseas buyer. Loans may be AUD  100,000 
or more with a 12 month s draw down period.  4.5% p.a.  12 months  280 days  USA, Japan, China, 
Viet Nam, 
Chinese  Taipei, 
Singapore  Vegetable oils, hay, 
wheat and grains, 
seafood, pigmeat  
Small Business 
Export Loan  Direct Financing 
Support  Efic provides a loan to an Australian exporter 
or company in an export -related supply 
chain. The loan allows the Australian 
company to deliver on a contract with an 
overseas buyer. Loans are between 
AUD 50,000 and AUD  250,000.  13.15% p.a.  12 months  10 months  Canada, China, UK, 
Northern Ireland  Wine 
Export 
Working 
Capital 
Guarant ee  Risk cover  A guarantee to an exporter's bank for the 
exporter's payment obligations under a 
working capital loan facility. The Export 
Working Capital Guarantee can support a 
single export contract or multiple contracts 
with different buyers.  Premiums a re based on 
factors including 
exporter credit -
worthiness, payment 
terms of the export 
contract and tenor 
length  12 months  90 days  USA; Korea, Rep. of; 
UK; Indonesia; 
Australia (integral to 
the export supply 
chain); UK; Italy; 
India; New Zealand; 
Czech Repu blic; 
Various (e.g. UAE; 
Kuwait; Qatar; Saudi 
Arabia, Kingdom of ; 
Singapore; Oman; 
Korea, Rep. of; Hong 
Kong, China ; 
Bahrain, Kingdom 
of) Meat and meat 
products, wine, grains 
and pulses, wool, wood, 
vegetable oils  
Bond  Risk cover  A guarantee on bond(s) is sued by banks and 
other financial institutions to overseas buyers 
of Australian goods and/or servic es. Efic  may 
also issue the bond(s) directly. Types of 
bonds issued or guaranteed are: 
performance bonds, advance payment bonds 
and warranty bonds. These bon ds may be 
on-demand or conditional. The Efic  
guarantee on the bond remains in force until Risk fees take into 
consideration the value 
of the security offered 
and the assessed 
technical and financial 
strength of the exporter 
to deliver on the 
contract.  n/a n/a Nil in 2016  Nil in 2016   
  G/AG/W/125/Rev.6/Add.2  
 
- 4 - Program me 
Title Category of 
Support  Description of Program me Annual average 
premium rates/fees 
per progra mme Maximum 
repayment 
terms per 
program me Annual average 
repayment 
periods per 
program me Export destination 
or group of 
destinations per 
program me 
(2016)  Programme use by 
product or product 
group (2016)  
the term required under the export contract.  
Risk 
Participation 
Agreements  Risk cover  Risk-sharing arrangement with the Asian 
Development Bank (ADB) under ADB's Trade 
Facilitation Program (TFP) where E fic 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  48 days  Pakistan, 
Bangladesh  Carbonised wool, lentils  
Export Finance 
Guarantee  Risk cover/ 
government to 
government 
credit agreement  Guarantee i ssued by E fic in favour of 
banks/financial institutions on loans provided 
to assist overseas buyers to purchase capital 
goods and/or services. The guarantee is 
generally limited to 85% of the contract 
value.  2.5% p.a.*  
 
Risk fee is calculated 
based on the assessed 
creditworthiness of the 
borrower, the tenor and 
frequency of repayments 
and assessed credit 
enhancement, including 
loan collaterals, if any.  5 to 10 years  Greater than 180 
days Sri Lanka  Dairy cattle ** 
Documentary 
Credit 
Guarantee  Risk cover  Efic 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 is calculated 
based on the assessed 
creditworthiness of the 
issuing bank, the tenor 
and frequenc y of 
repayments.  Under 180 days  60 days  Argentina  Seeds  
Foreign 
Exchange 
Facility 
Guarantee  Note: Efic no longer offers this product.  
* The indicated rate is the OECD Arrangement minimum premium rate for an unconditional guarantee.  In addition to risk pr emium, Efic also charges Establishment and 
Commitment Fees.  
** Australia notifies dairy cattle support under the EFG as an existing contract for the purposes of the Ministerial Decision on  Export Competition (Paragraph 15 (Australia 
notifies dairy cattle s upport to Sri Lanka under the EFG as an existing contract for the purposes of the Ministerial Decision on Export Competition (Paragraph 15 (a)). The 
cover for this project to Sri Lanka started in 2011.  There are three tranches of export credit guarantee.  The repayment term for each tranche is longer than 
18 months.  The first two tranches of the finance for this project were disclosed in previous responses to the Export Competition Questio nnaire in 2011 and 2014. This is 
the final tranche of the finance for this project.  The finance for this project is an existing contract pursuant to Paragraph 15(a) of the Ministerial Decision on Export 
Competition .  
  G/AG/W/125/Rev.6/Add.2  
 
- 5 - Total value of export of agricultural products covered by export credits, export credit guarantees or insuranc e programmes  and use 
per programme (Million  AUD)  
Efic Programme  2009  2010  2011  2012  2013  2014  2015  2016  
Export Contract Loan  Nil Nil Nil Nil Nil Nil 5.73m  47.67m  
Small Business Export Loan  Nil Nil Nil Nil Nil Nil Nil 1.13m  
Export Working Capital Guarant ee  17.38  27.6 47.7 100.82m  24.7m  16.49m  16.27m  44.67m  
Bond Nil Nil 24.2 17.26m   Nil Nil Nil Nil 
Risk Participation Agreements  Nil Nil 0.72 4.71m  5.38m  7.72m  11.24m  3.83m  
Export Finance Guarantee  Nil Nil 54 56.2m  16.14m  21.44m  Nil 99.17m  
Documentary C redit Guarantee   Nil 22.4  Nil Nil  Nil Nil Nil 0.17m  
Foreign Exchange Facility Guarantee   Nil 44.3 131.4  13.8m  1.15m  1.43m  1.33m  n/a 
Totals  17.38  94.3 258.02  192.79m  47.37m  47.08m  34.57m  196.64m  
  
  G/AG/W/125/Rev.6/Add.2  
 
- 6 - Export values by programme and destination for 2015 (M illion AUD)  
 Efic Program me Destination  Value  
Export Contract Loan  United States of America  $0.85m  
 Japan  $2.84m  
 China  $23.65m  
 Viet Nam, Chinese Taipei  $0.5m  
 Viet Nam  $3.5m  
 Singapore  $16.33m  
 Total  $47.67m  
   
Small Business Export Loan  Canada  $0.56m  
 China  $0.39m  
 UK, Northern Ireland  $0.18m  
 Total  $1.13m  
   
Export Working Capital Guarantee  United States of America  $4.19m  
Various (e.g. United Arab Emirates; Kuwait; Qatar; United States of America; Saudi Arabia, Kingdom of ; Singapore; 
Oman ; Korea, Rep ublic of; Hong Kong, China; Bahrain, Kingdom of )  $10.8m  
 Korea, Rep ublic of $10.04m  
 United Kingdom  $1.84m  
 Indonesia  $5.704m  
 Australia (integral to the export supply chain)  $9.5m  
 United Kingdom , Italy, India, N ew Zealand , Czech Republ ic $2m 
 China  $0.6m  
 Total  $44.67m  
   
Risk Participation Agreements  Bangladesh   $3.23m  
 Pakistan   $0.6m  
 Total   $3.83m   
   
Export Finance Guarantee  Sri Lanka  $99.17m  
 Total  $99.17m  
   
Documentary Credit Guarantee  Argentina  $0.17m  
Total  $0.17m  
   
 Grand Total  $196.64m  G/AG/W/125/Rev.6/Add.2  
 
- 7 - 
 
  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  
 
"Proex Financiamento", Brazil 's Export Financing Program, provides direct financing to exporters. 
Brazilian PROEX is divided into two categories:  
 
a) PROEX Direct Financing  
 
Purpose of the program me: Government provides direct f inancing for exporters (supplier 's credit) 
and buyers (buyer 's credit) of Brazilian services and goods. How official support is provided – 
PROEX covers several sectors, including machinery and equipment. Repayment period is up to ten 
years. The program me applies international market interest rates with respect to the funding 
currency and its maturity.  
 
b) PROEX Interest Rate Support  
 
Purpose of the program me: The interest rate support aims to reduce the export finance interest 
rate charged by financial in stitutions in order to support Brazilian exports of goods and services.  
 
How official support is provided : Export credit is granted by financ ial institutions and 
government  (PROEX) assumes part of the financial burden, allowing interest rates to be 
compat ible with those practiced in international markets.  
 
Both categories, PROEX Direct Financing and PROEX Interest Rate Support, are regulated by the 
Federal Law 10.184 of 12 February 2001, by the Resolutions o f the National Monetary 
Council  (CMN) N o. 2.575, 17 December 1998, and N o. 4.063, 12 April 2012. PROEX Interest Rate 
Support is also disciplined by the Federal Decree 7.710, 3 April 2012.  
 
2. Description of Export Financing Entity  
 
Brazilian Export Financing Program (PROEX) relies on National Treasury r esources and has specific 
allocation in the federal budget, in order to provide official support to Brazilian exports in two 
modalities – direct financing and interest rate support. The operational procedures are undertaken 
exclusively by Banco do Brasil S .A.  
 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance program mes and use per program me 
 
The total value of agricultural exports supported by the PROEX  Direct Financing, in  2015, 
was USD 99,224,816.32.  
 
4. Annual average premium rates/fees per programme  
 
The PROEX Direct Financing applies international market interest rates with respect to the funding 
currency and its maturity.  
 
5. Maximum repayment terms per programme  
 
According to the curre nt regulation, the maximum repayment term for agricultural products in the 
PROEX Direct Financing is 12 months. For exports to Cuba, the maximum repayment term may be 
of 36 months.  
 
6. Annual average repayment periods per programme  
 
In 2015, the annual ave rage repayment term for agricultural products in the PROEX Direct 
Financing, excluding exports to Cuba, was 4.7  months. For exports to Cuba, the average 
repayment period was 32 months.  
 G/AG/W/125/Rev.6/Add.2  
 
- 8 - 
 
  7. Export destination or group of destinations per programme  
 
Please s ee the list below, which shows the d estinations of Brazil 's exports of agricultural products 
supported by the PROEX Direct Financing program me in 2015:  
 
Country  2015  
(USD ) 
Cuba 90,491,315.28  
Italy 3,679,011.62  
China  1,560,554.23  
Japan  1,038,674.00  
Panama  879,717.44  
Egypt  633,040.08  
France  639,906.87  
Mexico  189,540.98  
Ecuador  113,055.83  
Total  99,224,816.32  
 
8. Programme use by product or product group  
 
Please see the data below, which contains the t otal value of Brazil 's exports of agricul tural 
products supported by the PROEX Direct Financing in 2015:  
 
Product Group – Food/Agricultural Goods HS Chapters Included – 02, 09, 10, 12, 15, 16, 23 : 
USD 99,224,816.32 . 
  G/AG/W/125/Rev.6/Add.2  
 
- 9 - Canada  
1. Description of Programme and Export Financing Entity  
 
Data submitted w ithout prejudice to any future data on export credit and credit insurance program mes that Canada might submit.  
 
Description of export financing entity: Export Development Canada (EDC)  
The EDC is Canada's official Export Credit agency. Its mandate is to sup port and develop Canada's export trade by helping Canadian companies respond to 
international business opportunities. The EDC is self -financing and a Crown corporation that ope rates at arm's length from the G overnment. For further 
information: http://www.edc.ca  
Programme 
Category  Programme 
Name  Category of 
Support  Description of Programme  Maximum 
Repayment 
Term  
2016  Annual Average 
Repayment Term  
2016  Annual Average 
Premium 
Rates/Fees  
2016  
Short Term 
Insurance (STI)  Accoun ts 
Receivable 
Insurance (ARI)  (b) Risk Cover  Credit insurance product that protect policyholders against commercial 
credit risks such as non -payment by their buyers driven by the following 
insured risks:  
- insolvency  
- default  
- repudiation of goods  
- termination of contracts  
- political risks such as difficulty in converting or transferring currency, 
cancellation of export or import permits  
- war-related risks of losses  
 
Other notable features include:  
- 90% co -insurance ratio  
- ability to provide coverag e for Canadian companies, including their 
foreign affiliates (subject to legal opinion)  
- Coverage options vary and can include global coverage (whole book) or 
coverage of select payment terms or markets.  ≤ 180 days 
(payment 
terms)  N/A 2014: 0.24%  
2015: 0.26%  
2016: 0.22%  
Short Term 
Insurance (STI)  Single Buyer 
Insurance (SBP)  (b) Risk Cover  Single Buyer Insurance is a credit insurance product that can cover export 
sales to a specific customer for a 180 day  period on shipments or 
services. The policy carries a co -insurance ratio of up to 90% of losses if a 
customer does not pay after accepting the goods for reasons that may 
include:  
- bankruptcy or insolvency;  
- currency conversion and transfer; and  
- war, revolution, or insurrection.  ≤ 180 days  
(payment 
terms)  N/A 2014: 1.30%  
2015: 1.40%  
2016: 1.40%  
Short Term 
Insurance (STI)  Trade Protect 
(TP) (b) Risk Cover  Trade Protect insures up to 90% against non -payment for goods and 
services that have been shipped and accepted by the foreign b uyer; it 
covers for losses associated with default of payment and insolvency. This 
is credit insurance for Canadian exporters that have a small number of 
customers outside of Canada.  
 
Other features include:  
- the goods or services that are directly exported  from Canada;  
- insurable volume up to USD  500,000 per buyer.  ≤ 180 days  
(payment 
terms)  N/A 2014: 1.11%  
2015: 0.66%  
2016: 0.55%  
  
  G/AG/W/125/Rev.6/Add.2  
 
- 10 - Programme 
Category  Programme 
Name  Category of 
Support  Description of Programme  Maximum 
Repayment 
Term  
2016  Annual Average 
Repayment Term  
2016  Annual Average 
Premium 
Rates/Fees  
2016  
Insurance  Contract 
Frustration 
Insurance (CFI)  (b) Risk Cover  Insurance covering Canadian companies for up to 90% of costs incurred 
or receivables lost in association with a specific expo rt contract for 
services, capital goods, or projects. It protects the exporter against a 
range of commercial and political risks, including:  
 Buyer insolvency  
 Cancellation of export or import licenses and permits  
 Host government's moratorium on debt  
 Non-conversion of currency or inability to transfer funds  
 Non-payment or default by your customer  
 Termination or cancellation of the contract by your customer  
 War, revolution, insurrection or other political disturbances.  
 
Tenors can be up to 2 years, howeve r for agri -foods it is normally up to 
180 days.  ≤ 180 days  
(maximum 
tenor)  N/A 2014: 0.36%  
2015: N/A  
2016: 0.58%  
Insurance  Political Risk 
Insurance (PRI)  (b) Risk Cover  Insurance product that protects Canadian companies with investments in 
foreign countri es and/or lenders financing investments by Canadian 
companies abroad. The policy protects overseas assets, such as 
equipment and manufacturing facilities, for up to 90% of losses against 
political risks such as:  
 Breach of contract risk by a foreign governm ent or state -owned entity  
 Non-payment by a sovereign obligor  
 Expropriation risk (including gradual or creeping expropriation)  
 Political violence risk  
 Conversion risk  
 Repossession risk  
 
Coverage can be offered on a number of assets and investments including  
equity, debt, mobile assets & equipment among others. This product 
provides peace of mind to companies and their financial intermediaries 
that, when faced with such risks, their assets will be protected overseas, 
enabling them to take advantage of export and investment opportunities 
in emerging markets.  
 
Tenors typically greater than 2 years.  
 
PRI was not used in support of agriculture exports in 2016.  ˃ 2 years  
(minimum 
tenor)  N/A 2014: 1.35%  
2015: 0.81%  
2016: N/A  
Bonding & 
Guarantees  (Account) 
Performance 
Security 
Guarantee (PSG)  (d) other form of 
governmental export 
credit support  A performance security guarantee frees up an exporter's working capita l 
by having their bank forego the collateral required when they post a 
contractual guarantee on the exporter's behalf. EDC provides a 100% 
guarantee to the exporter's bank in exchange for providing working 
capital relief to the exporter.  
 
Tenors can be up to 3 years, however for ag ri-foods it is normally up to 
1 year. ≤ 365 days  
(maximum 
tenor)  N/A 2014: 0.36%  
2015: 1.36%  
2016: 1.45%  
Bonding & 
Guarantees  Surety Bonding 
Insurance (SBI)  (d) other form of 
governmental export 
credit support  A Surety Bond Insurance compensates the Canadian exporter's surety 
company in the e vent of a call, encouraging them to provide the exporter 
with the bonding capacity needed to sell internationally.  N/A N/A 2014: 2.00%  
2015: 2.00%  
2016: 2.00%   
  G/AG/W/125/Rev.6/Add.2  
 
- 11 - Programme 
Category  Programme 
Name  Category of 
Support  Description of Programme  Maximum 
Repayment 
Term  
2016  Annual Average 
Repayment Term  
2016  Annual Average 
Premium 
Rates/Fees  
2016  
Bonding & 
Guarantees  Financial 
Security 
Guarantee (FSG)  (d) other form of 
governmental export 
credit support  The Financial Security Guarantee is an indemnity -based financial 
instrument used to support an obligation undertaken by a Canadian 
exporter. Exporters gain additional financial capacity in their bank facilities 
and ultimately balance sheet. Th e risk covered will be essentially exporter 
default risk. The FSG supports financial guarantees, non -contractual 
(payment) guarantees. It indemnifies the Bank for 100% of letter of credit 
issued in support of security requirements.  
The FSG was not used in support of agriculture exports in 2015 or 2016, 
however was used as recent as 2014.  N/A N/A 2014: 3.92%  
2015: N/A  
2016: N/A  
Bonding & 
Guarantees  Foreign 
Exchange 
Guarantee (FXG)  (d) other form of 
governmental export 
credit support  A foreign exchange guara ntee is a guarantee provided to a financial 
institution (FI), on behalf of a Canadian exporter, for 100% of the 
collateral required by the FI relating to the exporter's forward contracts 
facility, in the event the exporter does not close the forward contra ct on 
the "settlement date".  
 
Tenors can be up to 3 years, however for agri -foods it is normally up to 1 
year. ≤ 365 days  
(maximum 
tenor)  N/A 2014: 1.05%  
2015: 1.38%  
2016: 1.28%  
Financing  Guarantee  (d) other form of 
governmental export 
credit support  Includes Export Guarantee Program and Commercial Guarantee Program.  
The Export Guarantee Program is a risk sharing  programme wherein EDC 
can look at providing guarantees of up to 75% to Canadian financial 
institutions in support of credit facilities the FI makes available to support 
Canadian exporter's working capital requirements. Potential structures 
include but are  not limited to:  
 
 Operating facilities  
 Export contract specific facilities  
 Purchase of equipment  
 Federal & Provincial Tax Credits  
 Investments outside of Canada and working capital support for foreign 
subsidiaries  
 Foreign -domiciled inventory of finished goo ds 
 Export A/R margined operating facilities  
 
Tenors vary depending on the purpose of the EGP. If it is working capital 
related, typically 1 year is the maximum; whereas for contract specific, 
equipment, or CAPEX purposes, the tenors will be based on the un derlying 
contract/equipment to be purchased and therefore could extend beyond 
1 year. 
 
The Commercial Guarantee Program (CGP) is very similar to EDC's 
Exporter Guarantee Program (EGP) and is focused on larger sized 
commercial clients where a guarantee abov e the EGP's USD  10 million 
programme limit is required.  1 year or more  2014: 1.38 years  
2015: 1.08 years  
2016: 1.30 years  2014: 2.62%  
2015: 2.63%  
2016: 2.23%  
Financing  Loan (a) direct financing 
support  Provide financing either for an export, for a future expo rt, or for an 
exporter/investor or for domestic support.  
This category includes domestic capacity, new domestic - export trade, 
export capacity, export support - export contracts, Canadian direct 
investment abroad and export capacity.  Various  2014: 3.33 ye ars 
2015: 3.13 years  
2016: 2.90 years  2014: 3.32%  
2015: 4.09%  
2016: 4.37%   
  G/AG/W/125/Rev.6/Add.2  
 
- 12 - Description of export financing entity: Canadian Wheat Board (CWB)  
On 30 July 2015, pursuant to the Marketing Freedom for Grain Farmers Act , the CWB was commercialized. At that ti me, it became  G3 Canada Limited under the Canada Business 
Corporations Act. The Canadian Wheat Board (Interim Operations) Act was repealed. G3 Canada Limited operates in the competitive Canadian grain marketplace, with no ties to 
the Government of Canada.  
Programme Name and Description of Programme  Category of support  Entities  Term  
Credit Grain Sales Program (CGSP)  
The CGSP is no longer in use.  
 
Description:  The Government of Canada guaranteed the repayment of the principal and interest of all receivables  
resulting from sales made under the CGSP to sovereign buyers. The CWB and the G overnment arranged with the debtor 
countries for the recovery of outstanding debts.  There has been no new CGSP activity since 2001 -02.  (a) Direct financing support  (a) Governm ent departments and  
(c) agricultural export state 
trading enterprises  > 180 days  
Agri-Food Credit Facility (ACF)  
The ACF is no longer in use.  
 
Description:  Under the ACF, the government of Canada guaranteed a declining percentage, based on repayment term s 
of the credit, of all receivables resulting from sales to non -sovereign buyers. The terms vary depending on the customer 
and are usually between 90 and 360 days. The CWB was responsible for the remaining balance. ACF was established in 
1995 and first use d in 1997 -98.  (a) Direct financing support  (a) Government departments and  
(c) agricultural export state 
trading enterprises  > 90days  
< 360days  G/AG/W/125/Rev.6/Add.2  
 
- 13 - 
 
  2. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insur ance programmes and use per programme  
Canadian Wheat Board (CWB): Credit Grain Sales Program (CGSP)  and Agri -Food Credit 
Facility (ACF) sales  
Crop Year  Credit Facility  Canadian Dollar  
August 1/94 - July 31/95  Exports under CGSP Credit  266,171,628  
August 1/95 - July 31/96  Exports under CGSP Credit  220,524,480  
August 1/96 - July 31/97  Exports under CGSP Credit  179,422,717  
August 1/97 - July 31/98  Exports under ACF Credit  21,763,895  
 Exports under CGSP Credit  384,780,723  
Total   406,544,618  
August 1/98 - July 31/99  Exports under ACF Credit  91,989,915  
 Exports under CGSP Credit  95,073,657  
Total   187,063,572  
August 1/99 - July 31/00  Exports under ACF Credit  145,868,005  
 Exports under CGSP Credit  371,670,601  
Total   517,538,606  
August 1/00 - July 31/01  Exports under ACF Credit  159,431,130  
 Exports under CGSP Credit  222,462,540  
Total   381,893,670  
August 1/01 - July 31/02  Exports under ACF Credit  115,781,065  
 Exports under CGSP Credit  133,539,957  
Total   249,321,023  
August 1/02 - July 31/03  Exports un der ACF Credit  87,865,865  
August 1/03 - July 31/04  Exports under ACF Credit  151,358,678  
August 1/04 - July 31/05  Exports under ACF Credit  113,627,275  
August 1/05 - July 31/06  Exports under ACF Credit  152,641,251  
August 1/06 - July 31/07  Exports under A CF Credit  170,602,882  
August 1/07 - July 31/08  Exports under ACF Credit  151,781,835  
August 1/08 - July 31/09  Exports under ACF Credit  95,687,668  
August 1/09 - July 31/10  Exports under ACF Credit  91,171,090  
August 1/10 - July 31/11  Exports under ACF Cre dit 144,792,791  
August 1/11 - July 31/12  Exports under ACF Credit  133,691,715  
August 1/12 - July 31/13  Exports under ACF Credit  52,642,620  
August 1/13 - July 31/14  Exports under ACF Credit  12,395,821  
Note:  The CGSP and ACF are no longer in use.  
Export Development Canada Data  
Agricultural Product Exports Canadian dollar  
Year Contract Insurance 
and Bonding  (CIB)  Financing  (FIN)  Political Risk 
Insurance  (PRI)  Short term 
insurance  
1995  266,422  0 0 131,803,875  
1996  17,085,695  177,266  2,166,000  259,103,895  
1997  0 0 2,166,000  432,897,985  
1998  0 1,132,762  2,166,000  545,429,640  
1999  0 0 0 653,830,146  
2000  0 0 0 729,068,503  
2001  10,137,308  0 0 864,418,676  
2002  6,938,246  0 0 854,903,434  
2003  17,844,580  712,500  0 608,467,878  
2004  11,802,094  608,092  0 498,931,919  
2005  68,602,685  1,697,441  0 559,710,602  
2006  127,002,052  2,334,400  0 543,583,221  
2007  172,176,845  18,177,881  0 574,795,682  
2008  298,552,212  29,357,308  0 1,043,615,677  
2009  360,745,072  46,356,397  0 1,122,905,347  
2010  96,421,153  102,871,375  407,520 1,297,749,164  
2011  128,389,260  153,279,700  0 1,894,007,360  
2012  85,865,222  133,965,817  0 2,148,453,156  
2013  99,600,460  161,210,452  308,265  2,477,837,958  
2014  99,604,086  466,855,563  327,075  3,730,989,079  
2015  91,325,466  267,272,703  10,557,465  3,730,989,079  
2016  114,634,534  275,238,174  0 4,702,449,093  G/AG/W/125/Rev.6/Add.2  
 
- 14 - 
 
  Program me use by product or product group, and export destination or group of 
destinations per programme  
EDC Sub -Sector Description  Product/Group of Products  
Commodities - Grain, Specialty Crops  Wheat and wheat flour  
Coarse grains  
Processor, Elevator -Grain, Specialty Crops  Oilseeds  
Vegetable oils  
Oilcakes  
Commodities - Meat  Bovine meat  
Pigmeat  
Poultry meat  
Sheep meat  
Breeding/Genetics/Animal Health & Nutrition  Live animals (beef, dai ry, swine)  
Commodities - Horticulture, Organic Horticulture  Fruit 
Vegetables  
 
Programme  
Category  Destination by region  
Agricultural Product Exports (Canadian Dollar ) 2015  2016  
Short Term 
Insurance  Africa, Europe & Middle -East 1,030,438,189  1,542,147,3 66 
Asia 1,127,173,346  1,576,108,751  
Mexico, Central America & Caribbean  237,288,915  297,852,835  
North America  1,046,943,688  1,001,854,902  
South America  289,144,941  284,485,239  
Political Risk 
Insurance (PRI)  Mexico, Central America & Caribbean  10,165,200  0 
South America  392,265  0 
Contract Insurance 
and Bonding (CIB)  Various countries  5,068,040  5,220,200  
Africa, Europe & Middle -East 800,772  5,032,000  
Asia 8,364,833  7,063,587  
North America  72,898,625  84,034,413  
South America  4,193,196  13,28 4,334  
Financing (FIN)  Africa, Europe & Middle -East 375,000  7,785,000  
Asia 13,830,000  5,675,000  
Mexico, Central America & Caribbean  1,500,000  0 
North America  250,907,703  261,703,174  
South America  660,000  75,000  
 G/AG/W/125/Rev.6/Add.2  
 
- 15 - 
 
  Programme  Category  EDC Subsector D escription  
Export s Canadian Dollar  2015  2016  
Short Term Insurance  Breeding/Genetics/Animal Health& Nutrition  225,431,273  219,299,428  
Commodities -Grain, Specialty Crops  1,862,456,601  2,633,616,351  
Commodities -Meat 940,196,316  1,054,816,734  
Commoditi es-Horticulture, Organic  233,543,359  184,070,172  
Processor/Elevator -Grain, Specialty Crops  469,361,530  610,646,407  
Political Risk Insurance 
(PRI)  Commodities - Horticulture  10,165,200  0 
Commodities - Meat 392,265  0 
Contract Insurance and 
Bonding (CIB ) Animal Breeding, Genetics & Production  1,674,910  1,970,900  
Animal Health, Nutrition & Related Services  576,000  575,862  
Commodities - Grain  45,985,506  43,088,515  
Commodities - Horticulture  1,850,000  3,800,220  
Commodities - Meat 21,424,796  28,220,8 18 
Commodities – Organic Horticulture  0 90,000  
Commodities - Specialty Crops  1,600,000  1,850,000  
Processor / Elevator - Grain  8,064,254  7,900,574  
Processor / Elevator - Specialty Crops  10,150,000  27,137,645  
Financing (FIN)  Breeding/Genetics/Animal  Health& Nutrition  45,966,500  29,395,973  
Commodities -Grain, Specialty Crops  120,368,913  149,127,340  
Commodities - Meat 49,944,393  50,338,217  
Commodities -Horticulture, Organic  15,660,500  7,137,500  
Processor/Elevator -Grain, Specialty Crops  35,332,397  39,239,144  
 
 G/AG/W/125/Rev.6/Add.2  
 
- 16 - 
 
  Colombia  
1. Description of the programme: risk cover  
 
The Exchange Coverage Programme for the Agricultural Sector was implemented in 2010 by the 
Ministry of Agriculture and Rural Development through Resolution No.  000393, the idea being 
to encourage export -oriented producers to acquire exchange rate coverage in order to reduce 
uncertainty and mitigate the impact of the volatility of the dollar. The Government is essentially 
seeking to protect the formal employment generated by this activity as well as the stability of that 
employment by enhancing the sector's productivity and competitiveness.  
 
The beneficiaries of the Programme are the agricultural, livestock and aquaculture export 
subsectors as defined by the World Trade Organization (WTO) p lus fisheries, excluding the coffee 
subsector. Also included are the agro -industrial sectors that use products from the agricultural, 
livestock or aquaculture sectors as raw materials.  
 
For 2014, the participants in the Exchange Coverage Programme were cla ssified according to the 
following criteria:  
 
Type of producer  Value of assets at 31  December  2013  
(COP ) 
Small producers Less than or equal to 89,320,000  
Medium producers – type 1  More than 89,320 ,000 and less than or equal to 376,400,000  
Medium produce rs – type 2  More t han 376,400,000 and less than 3,300,000,000  
Large producers  More than or equal to 3,300,000,000  
 
Relevant legislation  
 
The Exchange Coverage Programme is based on Article  7 of Law  101 of 1993 – General Law on 
Agricultural and Fishery De velopment, and on Ministry  of Agriculture  and Rural Development 
Resolution  393 of 11  November  2010 establishing the programme and introducing other 
provisions.  
 
2. Description of export financing entity  
 
The Exchange Coverage Programme was developed by the  Ministry  of Agriculture and Rural 
Development, and is managed by the Fund for the Financing of the Agricultural and Livestock 
Sector  (FINAGRO), a semi -public national company set up as a credit establishment and linked to 
the Ministry of Agriculture and R ural Development.  
 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 
In 2014, the Exchange Coverage Programme covered total export sales worth  
approximately  USD 297,681,638.  
 G/AG/W/125/Rev.6/Add.2  
 
- 17 - 
 
  4. Annual average premium rates/fees per programme  
 
Producers participating in the Programme are provided direct financial support covering 
between  90% and 50% of the acquisition value of the coverage premium, depending on the type  
of producer and the date of expiry of the coverage. The table below sets out the 
Ministry  of Agriculture and Rural Development's financial support scheme for the exchange 
coverage premium in 2014.  
 
Type of 
producer  Percen tage 
support  Ceilings  
Expiry ≤ 
6 months  Expiry > 
6 months  Minimum 
sales to 
be 
covered  
(USD) Maximum sales to be covered 
(USD) 
Daily  Monthly  Annual  
Small 
producers  90% Up to 
80 COP 
per dollar  Up to 
90 COP 
per dollar  1,000  2,000,000  
Medium 
producers 
– type 1  
Medium 
producers 
– type 2  50% Up to 
50 COP 
per dollar  Up to 
60 COP 
per dollar  500,000  2,000,000  10,000,000  
Large 
producers  
 
5. Maximum repayment terms per programme  
 
Not applicable to the Exchange Coverage Programme.  
 
6. Annual average repayment periods  per programme  
 
Not applicable to the Exchange Coverage Programme.  
 
7. Export destination or group of destinations per programme  
 
The Export Coverage Programme does not take account of the destination of exports.  
 
8. Programme use by product or product gro up 
 
The table below sets out the distribution by subsector of the sales covered by the Exchange 
Coverage Programme for 2014.  
 
Product  Ministry of Agriculture and 
Rural Development Support  
in COP Sales covered in US dollar  
Flowers  11,834,732,223  231,757,50 0 
Sugars and sugar confectionary  1,509,431,762  30,285,000  
Fruit trees  445,976,800  8,500,000  
Live animals  373,919,720  7,500,000  
Bananas  313,178,744  5,997,305  
Meat and edible meat offal  179,484,829  3,587,395  
Hides and skins  177,078,968  3,532,638  
Fish and crustaceans, molluscs  90,245,996  2,010,000  
Shrimp  82,111,515  2,000,000  
Vegetables  39,499,719  1,000,000  
Cocoa  78,535,485  998,250  
Tilapia  20,080,000  400,000  
Aromatic herbs  9,120,336  113,550  
Grand total  15,153,396,097  297,681,638  
Source:   FINAGRO.  G/AG/W/125/Rev.6/Add.2  
 
- 18 - 
 
  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 can be found below:  
 
Austria  
 
1. Name/descripti on of the programme  
 
General programme s (non -agriculture specific) for export credit insurance. An extremely limited 
volume of agricultural products is covered under the general programme . 
 
2. Legal basis  
 
http://www.oekb.at/en/export -services/framework/legal -framework/pages/default.aspx.  
 
3. Name/description of Export Financing Entity  
 
Oesterreichische Kontrollbank AG (OeKB ). 
 
4. Total value of export of agric ultural products covered by the programme : 
 
This information is not held.  
 
5. Annual average premium rate/fee per programme  
 
This information is not held.  
 
6. Maximum repayment term per programme  
 
This information is not held.  
 
7. Annual average repayment period per programme  
 
This information is not held.  
 
8. Export destination or group of destinations per programme  
 
This information is not held.  
 
9. Programme  use by product or product group  
 
This information is not held.  
 G/AG/W/125/Rev.6/Add.2  
 
- 19 - 
 
  Bulgaria  
 
1. Name/description of  the programme  
 
Risk cover programme  against non -marketable short -term and medium -term commercial and 
non-commercial risks.  
 
2. Legal basis  
 
Bulgarian Export Insurance Act, Order No.  101 of the Council of Ministers of the 
Republic  of Bulgaria dated 18 Dece mber 1997 . 
 
3. Name/description of Export Financing Entity  
 
"Bulgarian Export Insurance Agency " (BAEZ) : http:// www.baez.bg . 
 
4. Total value of export of agricultural products covered by the programme  
 
Total value of expor ts covered by non -marketable short -term commercial risk (in million  EUR):  
 
2014: 2.296  
2015: 2.930  
2016: 17.434 . 
 
5. Annual avera ge premium rate/fee per programme  
 
Annual average premium rated for non -marketable short -term commercial risk (%) : 
 
2014: 0.85  
2015: 0.81  
2016: 0.54 . 
 
6. Maximum repayment term per programme  
 
24 months for short -term commercial and political risk and 60 months for medium -term 
commercial and political risk.  
 
7. Annual average repayment period per programme  
 
Annual average repayment  period of cover against non -marketable short -term commercial 
risk (days):  
 
2014: 79  
2015: 76  
2016: 76 . 
 
8. Export destination or group of destinations per programme  
 
Azerbaijan, China, Greece, Israel, Kenya, Kosovo, Lebanese Republic , The former Yugoslav 
Republic of Macedonia , Nigeria, Russian Federation , Serbia, Syria, Tunisia , Turkey . 
 
9. Programme  use by product or product group  
 
Crops, fruits, nuts, vegetables, coffee, tea, spices, animals, beverages, dairy, chocolate, 
confectioner y, alcoholic and othe r beverages, tobacco.  G/AG/W/125/Rev.6/Add.2  
 
- 20 - 
 
  Croatia  
 
1. Name/description of the programme  
 
General program mes (non -agriculture specific) for supplier credit, buyer credit and export 
guarantees, short term insurance and reinsurance.  
 
2. Legal basis  
 
Act on the Croatian Bank for  Reconstruction and Development (NN  138/06,  NN 25/13).  
 
Regulation on Export Credit Insurance (NN 61/07, NN 92/08, NN 79/10).  
 
3. Name/description of Export Financing Entity  
 
"Hrvatska banka za obnovu i razvitak " (HBOR) is the development and export bank o f the 
Republic  of Croatia and provides export credit insurance operations on behalf and for account 
of the Republic of Croatia.  
 
4. Total value of export of agricultural products covered by the programme  
 
Amount of insured turnover:  
 
1,210,616 EUR in 2016  
189,000 EUR in 2015  
50,000 EUR in 2014 . 
 
5. Annual average premium rate/fee per programme  
 
This information is not held / N/A.  
 
6. Maximum repayment term per programme  
 
This information is not held / N/A.  
 
7. Annual average repayment period per programme  
 
This information is not held / N/A.  
 
8. Export destination or group of destinations per programme  
 
Bosnia and Herzegovina, China, Germany, Hungary, Montenegro, Poland, Serbia, Slovenia.  
 
9. Programme  use by product or product group  
 
Fish, hazelnut, j am. 
 G/AG/W/125/Rev.6/Add.2  
 
- 21 - 
 
  Czech Republic  
 
1. Name/description of the program me 
 
EGAP - short-term export credit insurance (Insurance of a Short Term Export Supplier Credit, resp. 
Insurance of a Short Term Export Supplier Credit Financed by a Bank).  
 
2. 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 . 
 
3. Name/description of Export Financing Entity  
 
EGAP (Exportní garanční a pojišťovací společnost, a.s./ Export Guarantee and Insurance 
Corporation) is an insurance company having a legal form of a joint -stock company fully owned by 
the Czech state (four shareholding ministries: Ministry of Finance, Mini stry of Industry and Trade, 
Ministry of Foreign Affairs and Ministry of Agriculture).  
 
http://www.egap.cz/index -en.php  
 
4. Total value of export of agricultural products covered by the program me 
 
2014: CZK 33.2 mil . 
2015: CZK 291.3 mil.  
2016: CZK 602.4 mil.  
 
5. Annual average premium rate/fee per program me 
 
2014: 4.0%  
2015: 3.4%  
2016: 3.6% . 
 
6. Maximum repayment term per program me 
 
12 months is the maximum repayment term from the realized transactions. Maximum  available 
repayment term of this program is two years.  
 
7. Annual average repayment period per program me 
 
2014: 3.5 months  
2015: 9.3 months  
2016: 10.4 months . 
 
8. Export destination or group of destinations per program me 
 
Armenia, Belarus, Cuba, Iran, Kaz akhstan , Mexico, Russian Federation, Ukraine.  
 
9. Program me use by product or product group  
 
Foodstuff and animal products, among others powdered milk, food supplements, beer, malt, etc.  
 
 G/AG/W/125/Rev.6/Add.2  
 
- 22 - 
 
  Denmark  
 
1. Name/description of the programme  
 
General export cred it 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 of 
agricultural products are not permitted within these markets.  
 
2. Legal basis  
 
Act No. 104 of 3 February 2016.  
 
3. Name/description of Export Financing Entity  
 
Denmark 's Export Credit Agency (EKF) is an official export credit agency, 100% owned by the 
Danish Government.  
 
4. Total value  of export of agricultural products covered by the programme  
 
Danish general export credit program me covers some agricultural products (mainly breeding 
animals). During 2016, EKF has issued export credit guarantees covering export of agricultural 
products worth approximately DKK 29 million.  
 
EKF is reinsuring exports of all type of products insured by the private agencies. Separate value of 
agricultural products is not available.  
 
5. Annual average premium rate/fee per programme  
 
Depend ing on  the credit rat ing of the individual destination countries . 
 
6. Maximum repayment term per programme  
 
General export credit programme covering breeding animals: three years.  
Other agricultural products: one year or less.  
Reinsurance programme: 180 days . 
 
7. Annual averag e repayment period per programme  
 
As above . 
 
8. Export destination or group of destinations per programme  
 
Countries outside EU/OECD . 
 
9. Programme  use by product or product group  
 
General export credit program me: primarily capital goods, breeding animals.  
Reinsurance program me: all types of goods, but typically consumer goods.  
 G/AG/W/125/Rev.6/Add.2  
 
- 23 - 
 
  Estonia  
 
1. Name/description of the programme  
 
Non-agriculture specific short -term credit insurance, long -term buyer's credit insurance and 
supplier's credit insurance (used for ca pital goods exports) . 
 
2. Legal basis  
 
Estonian Law - State Export Guarantees Act:  
https://www.riigiteataja.ee/en/eli/506012014002/consolide  
 
3. Name/description of Export Financing  Entity  
 
KredEx Krediidikindlustus AS is a state -owned insurance company.  
http://www.kredex.ee/credit -insurance  
 
4. Total value of export of agricultural products covered by the programme  
 
At end of 2016 , approx. 5. 6 million euros was covered by short -term credit insurance with state 
support for food industry exports.  
 
5. Annual avera ge premium rate/fee per programme  
 
Agreed short -term credit insurance premiums are provided in the insurance contracts and are 
negotiated with each exporter according to insurance cover provided. Premium rates range 
between 0.3% and 2% of insured credit turnover  across all industries . 
 
For buyer 's credit and supplier 's credit insurance, prem ium rates are regulated by 
OECD  Arrangement.  
 
6. Maximum repayment term per programme  
 
Short -term credit insurance : up to 24 months . 
Buyer's credit insurance : up to 120 months . 
Supplier's credit insurance : up to 120 months . 
 
7. Annual average repayment period per programme  
 
Short -term credit  insurance two months, other programmes five years .  
 
8. Export destination or group of destinations per programme  
 
Global coverage for short -term credit insurance (only non -OECD countries with State support).  
Global coverage for buyer's credit insurance a nd supplier's credit insurance.  
 
9. Programme  use by product or product group  
 
All industries, including food processing industry (without specification), fisheries, milk processing 
industry, wholesale food products (without specification).  
 
 G/AG/W/125/Rev.6/Add.2  
 
- 24 - 
 
  Finland  
 
1. Name/description of the programme  
 
General programme  (non-agriculture specific) for risk cover and credit insurance.  
 
2. Legal basis  
 
No. 422/2001 Act on State 's Export Credit Guarantees . 
 
3. Name/description of Export Financing Entity  
 
Finnvera plc, state -specialised financing company . 
 
4. Total value of export of agricultural products covered by the programme  
 
Total covered exports for agricultural products were EUR  13 million in 2014, EUR  12 million 
in 2015 and EUR  6 million in 2016.  
 
5. Annual avera ge premium rate/fee per programme  
 
2.0 p.a. on the volume of covered exports . 
 
6. Maximum repayment term per programme  
 
180 days . 
 
7. Annual average repayment period per programme  
 
Typical credit terms are 30 -90 days . 
 
8. Export destination or group of destina tions per programme  
 
Animal feed and barley malt destination the Russian Federation.  
 
9. Programme  use by product or product group  
 
Feed for animals and barley malt account for majority of exports.  
 G/AG/W/125/Rev.6/Add.2  
 
- 25 - 
 
  France  
 
1. Name/description of the programme  
 
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 in case of failure of the market in Egypt, Lebanese Republic , Algeria.  
 
2. Legal basis  
 
Insurance Code (L. 432 -2 and next).  
 
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 (last modification: July 2017).  
 
Nairobi Ministerial Decision on Export Competition (maximum repayment term).  
 
3. Name/description of Export Financing Entity  
 
Bpifrance Assurance Export.  
 
A financial company under public control, duly empowered by French l aw to manage and grant 
export guarantees on behalf of the French State.  
 
4. Total value of export of agricultural products covered by the programme  
 
As of 31/01/2017, less than EUR  50 million of which:  
- around EUR  5 million was export to Greece;  
- around EUR  0.7 million was short term export to Lebanese Republic, Egypt and Algeria;  
- around EUR  44 million was export to Cuba.  
 
5. Annual average premium rate/fee per programme  
 
Ad hoc based on the OECD Arrangements for exports to Cuba.  
 
6.5% for exports to Greece . 
 
Ad hoc based on OECD country risk classification for exports to Lebanese Republic, Algeria and 
Egypt.  
 
6. Maximum repayment term per programme  
 
One year for exports to Cuba.  
Two years for exports to Greece (non -agriculture specific).  
18 months for Egypt , Lebanese Republic and Algeria.  
 
7. Annual average repayment period per programme  
 
One year for exports to Cuba.  
180 days for exports to Greece, Algeria, Egypt and Lebanese Republic.  
 
8. Export destination or group of destinations per programme  
 
Cuba, Gre ece, Egypt, Lebanese Republic, Algeria.  
 
9. Programme  use by product or product group  
 
This information is not held.  G/AG/W/125/Rev.6/Add.2  
 
- 26 - 
 
  Germany  
 
1. Name/description of the programme  
 
Pure cover only (no specific agriculture programme).  
 
2. Legal basis  
 
Annual Budget law 20 16: http://www.gesetze -im-internet.de/hg_2016/__3.html  Guidelines on the 
grant of Export Guarantees, as last amended on 4 June 2014 (only German version):   
http://www.agaportal.de/_Resources/Persistent/96b0c9134641dc271eca508691b22bc0e5dae012/
RL%20EKG.pdf  
 
3. Name/description of Export Financing Entity  
 
The Federal Government o f Germany has entrusted the management of the Official Export Credit 
Scheme to a consortium of two private companies. This mandatory consortium which consists of 
Euler Hermes Aktiengesellschaft, the leading partner in the consortium, and 
PricewaterhouseCoo pers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft is authorised to 
provide and manage the scheme in the name and for account of the state.  
 
4. Total value of export of agricultural products covered by the programme  
 
2014 EUR 0.0 
2015 EUR 0.0 
2016 EUR 0.0 
 
Valid data only available for single transaction cover.  
 
5. Annual average premium rate/fee per programme  
 
Not applicable.  
 
6. Maximum repayment term per programme  
 
Not applicable.  
 
7. Annual average repayment period per programme  
 
Not applicable.  
 
8. Export destination or group of destinations per programme  
 
Not applicable.  
 
9. Programme  use by product or product group  
 
Not applicable.  
 G/AG/W/125/Rev.6/Add.2  
 
- 27 - 
 
  Hungary  
 
1. Name/description of the programme  
 
Hungarian Export Credit Insurance Ltd. provides export credit in surance 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 
conduct s the tied aid facilities to developing countries.  
 
2. Legal basis  
 
Acts: 
 
 Act XLII of 1994 on the Hungarian Export -Import Bank Private Limited Company and the 
Hungarian Export Credit Insurance Private Limited Company;  
 Act CCXXXVII of 2013 on Credit Instit utions 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 the National Bank of Hungary on 
Payment Services Activities . 
 
3. Name/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.  
 
4. Total value of export of agricultural products covered by the programme2 
 
 Export cre dit insurance covered EUR 0.141 million in 2013, EUR 0.4 million in  2014, 
EUR 5.395  million in 2015 and EUR 3.019 million in 2016.  
 Official guarantees were issued for export value of EUR 4.98 million in 2013, EUR 3.7 million 
in 2014, EUR 20.3 million in 20 15, and EUR 17.3 million in 2016.  
 The value of outstanding officially supported export credits was EUR 105.04 million in 2013, 
EUR 392.2 million in 2014, EUR 495.9 million in 2015, and EUR 412.4 million in 2016.  
 
5. Annual average premium rate/fee per programme  
 
 For short term export credit insurance the annual average premium rate was 1.78% in 2013, 
1.3% in 2014, 1.68% in 2015 and 2.08% in 2016. For medium and long term insurance: N/A.  
 The annual average weighted guarantee fee was 2.675% in 2013, 2.77% in 2014, 0.60% 
in 2015, and 0.58% in 2016.  
 The annual average weighted interest rate for the credit s was 2.445% in 2013, 
2.133%  in 2014, 2.56% in 2015, and 2.57 % in 2016.  
 
6. Maximum repayment term per programme  
 
The maximum repayment term of export credits and export  credit insurance is 102 or 120  months, 
depending on the destination country category.  
 
                                                
2 The figure s include exports to EU and non -EU countries as well . G/AG/W/125/Rev.6/Add.2  
 
- 28 - 
 
  7. Annual average repayment period per programme  
 
 The average repayment period under ST credit insurance was approx. 4 months for year 2016. 
For MLT insurance : N/A.  
 The average repayment term of the credits was:  
 
 10 months with lump sum, 20 months  with monthly, 42 months with 3  months and 
18 months with semi -annual repayment frequency as of 31.12.2013;  
 18 months with lump sum, 22 months with monthly, 48 months  with 3 months and 
49 months with semi -annual repayment frequency as of 31.12.2014;  
 42 months with lump sum, 105 months  with monthly, 83 months with 3  months and 
54 months with semi -annual repayment frequency as of 31.12.2015;  
 27 months with lump sum, 19 m onths  with monthly, 26 months with 3  months and 
37 months with semi -annual repayment frequency as of 31.12.2016.  
8. Export destination or group of destinations per programme  
 
As far as non -EU countries are concerned, the following destinations prevailed in  2016:  
Insurance cover: Russian Federation, Ukraine, Uzbekistan, Serbia, Sri Lanka, Kazakhstan and 
Indonesia.  
Guarantees and credits: Belarus; Moldova, Republic of; Russian Federation; Ukraine; Azerbaijan; 
Algeria; China; Croatia; Switzerland; South Africa ; Egypt; Turkey and The former Yugoslav  
Republic  of Macedonia . 
 
9. Programme  use by product or product group  
 
Poultry farming,  grain, seeds, tobacco, processed fruits and vegetables, processed meat, milk 
products, wine, soft drinks and mineral water, growi ng of cereals (except rice), leguminous crops 
and oil seeds, production of animal fodder and logging.  G/AG/W/125/Rev.6/Add.2  
 
- 29 - 
 
  Latvia  
 
1. Name/description of the programme  
 
Short -term export credit guarantees –risk cover for export transactions with deferred payment up 
to two year s. 
 
2. Legal basis  
 
Regulation by the Cabinet of Ministers of Republic of Latvia:  
 
https://likumi.lv/doc.php?id=287648  
 
3. Name/description of Export Financing Entity  
 
Guarantees are provided by Developme nt finance institution Altum.  
 
4. Total value of export of agricultural products covered by the programme  
 
2014: 2  929 209 EUR  
2015: 3  870 710 EUR  
2016: 4  462 283 EUR . 
 
5. Annual average premium rate/fee per programme  
 
2014: 0.96%  
2015: 1.02%  
2016: 0.87%  
 
6. Maximum repayment term per programme  
 
24 months . 
 
7. Annual average repayment period per programme  
 
2014: 41 days  
2015: 42 days  
2016: 42 days  
 
8. Export destination or group of destinations per programme  
 
United Arab Emirates , Belarus, Russian Federatio n, Ukraine, Kazakhstan, etc. (non -marketable risk 
countries).  
 
9. Programme  use by product or product group  
 
Latvian export credit guarantee programme is not limited to specific products or sectors. Latvian 
export credit guarantee programme is intended for  undertakings that carry out an export of goods 
of origin of Latvia. The following food -related sectors (C.10 by NACE 2 Classification) have been 
subject to the programme:  
 
1.4 - Animal production,  
10.2 - Processing and preserving of fish, crustaceans and molluscs,  
10.3 - Processing and preserving of fruit and vegetables,  
10.5 - Manufacture of dairy products,  
10.6 - Manufacture of grain mill products, starches and starch products,  
10.7 - Manufacture of bakery and farinaceous products,  
10.8 - Manufacture of other food products,  
10.9 - Manufacture of prepared animal feeds,  
11.0 - Manufacture of beverages.  
 G/AG/W/125/Rev.6/Add.2  
 
- 30 - 
 
  The Netherlands  
 
1. Name/description of the programme  
 
a.   Export Credit Insurance and Export Credit Guarantee  (insurance against non -payment, 
exchange risks, political risks, natural disaster, etc). The actual financing of the export 
transactions is done by private banks while the executing agency (see below) serves as the 
guarantor of the various export credit insurance and guarantee schemes.  
b.   Dutch Good Growth  Fund: Similar to the Export Credit Insurance scheme aimed at export 
transaction with developing countries targetting SME 's both in the Netherlands as well as 
developing countries.  
Both export credit insurance as well as export financing schemes.  
c.   Dutch T rade and Investment Fund : DTIF is similar to DGGF, the difference is that it is open 
to all countries other than DGGF countries and also other companies than only SME's. The 
scheme is provided on the basis of additionality to the private sector.  
2. Legal B asis 
 
Private Company serving as the executing agency for the Netherlands Ministry of Finance.  
 
3. Name/description of Export Financing Entity  
 
Atradius Dutch State Business, integral part of the Atradius Group (private) . 
 
4. Total value of export of agric ultural products covered by the programme  
 
In 2016 export credit insurance for one transaction of agricultural goods was provided under the 
Dutch Good Growth Fund. The contract value is EUR 1 ,125,000. 
 
5. Annual average premium rate/fee per programme  
 
The premium rate is 2. 684 % on the contract value. The maximum clai ms amount was topped at 
EUR 742, 500. 
 
6. Maximum repayment term per programme  
 
180 days.  
 
7. Annual average repayment period per programme  
 
180 days.  
 
8. Export destination or group of destinat ions per programme  
 
The destination of the goods/country of the buyer is Afghanistan.  
 
9. Programme  use by product or product group  
 
Not applicable . 
 G/AG/W/125/Rev.6/Add.2  
 
- 31 - 
 
  Poland  
 
1. Name/description of the programme  
 
Risk Cover -Insurance of short -term export receivables again st non -marketable risk backed by the 
State Treasury.  
 
2. Legal basis  
 
 The Act of 7 July 1994 on Export Insurance Guaranteed by the State Treasury . 
 Regulation of the Minister of Economy of 19 December 2014 : concerning the maximum 
percentage share of foreign -origin components in the net revenues from performance of an 
export contract and the types of evidence to serve as the basis for determining the origin of 
a product or service . 
3. Name/description of Export Financing Entity  
 
KUKE S.A.: a joint stock compa ny 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 gu arantees.  
 
http://www.kuke.com.pl  
 
4. Total value of export of agricultural products covered by the programme  
 
2016: 62,687,551. 82 USD (preliminary data).  
 
5. Annual avera ge premium rate/fee per programme  
 
2016: 0.874. 
 
6. Maximum repayment term per programme  
 
KUKE  S.A. under the above -mentioned programme  provides insurance of export contracts wit h 
repayment terms shorter than two  years . 
 
7. Annual average repayment period per programme  
 
This information is not held . 
 
8. Export destination or group of destinations per programme  
 
Geographic distribution of supported by KUKE export is dominated by Ukraine, Russian Federation, 
Belarus, Serbia, Armenia and Kazakhstan (2016).  
 
9. Programme  use by product or product group  
 
Agricultural products, dairy products, soft drinks, fruits and vegetables, cereals, meat and other 
food products (2016).  G/AG/W/125/Rev.6/Add.2  
 
- 32 - 
 
  Slovak Republic  
 
1. Name/description of the programme  
 
General official export credit program me for Slovak exporters  
 
2. Legal basis  
 
Act No. 80/1997 Coll. on the Export -Import bank Slovak Republic, as amended.  
 
3. Name/description of Export Financing Entity  
 
Export -Import bank of the Slovak Republic (EXIMBANKA SR) . 
 
EXIMBANKA SR provides a wide range of officially supported export credi ts instruments : financial 
products related to exports, especially credit insurance, financing and guarantees. It is the sole 
institution in the Slovak Republic authorized to provide pre -export financing and pure cover backed 
by the government.  
 
Official we bsite: www.eximbanka.sk  
 
4. Total value of export of agricultural products covered by the programme  
 
Total value of exports (in million EUR):  
 
2014:  30.7 
2015:  33.9 
2016: 19. 1 (three  quarters) . 
 
5. Annual average pre mium rate/fee per program me 
 
Premium rates up to 1% depending on the country of export and payment term . 
 
6. Maximum repayment term per program me 
 
Export buyer´s credit used for the purchase of goods/services or investment units and shall be 
divided into s hort-term (max. up to two  years) and long term (max up to eight  years  and a half ). 
 
7. Annual average repayment period per program me 
 
2014: 17 months  
2015: 16 months  
2016: 18 months . 
 
8. Export destination or group of destinations per program me 
 
 Pre export  financing: Czech Republic, Poland, Hungary, Russian Federation, Sweden, Latvia, 
Romania, United Kingdom ; 
 Insurance cover: Belarus, Egypt, Ukraine, Russian Federation . 
9. Program me use by product or product group  
 
Meat and meat products, dairy products, ce reals and cereal products, animal feed.  
 G/AG/W/125/Rev.6/Add.2  
 
- 33 - 
 
  Sweden  
 
1. Name/description of the programme  
 
Risk Cover (Guarantee for Trade Receivables and Letter of Credit Guarantee) . 
 
2. Legal basis  
 
The Swedish Export Credits Guarantee Board (EKN) operates in accordance w ith the regulations in 
force and  special instructions from the G overnment which are specified in an annual letter of 
appropriation.  
 
3. Name/description of Export Financing Entity  
 
EKN is a state agency operating under The Ministry for Foreign Affairs.  http:// www.ekn.se  
 
4. Total value of export of agricultural products covered by the programme  
 
SEK 87.8 million in 2014  
SEK 66.4 million in 2015  
SEK 109.6 million in 2016 . 
 
5. Annual average premium rate/fee per programme  
 
Approximately 3.7 % in 2016.  
 
6. Maximum repayment term per programme  
 
360 days . 
 
7. Annual average repayment period per programme  
 
Approximately 96 days in 2016.  
 
8. Export destination or group of destinations per programme  
 
Kazakhstan ; China ; The former Yugoslav Republic of Macedonia ; Pakistan ; Russian Federation ; 
Serbia ; Singapore ; Tanzania ; Thailand ; Trinidad and Tobago ; Brazil ; Ukraine ; Nigeria;  and 
Venezuela,  Bolivarian Republic of.  
 
9. Programme  use by product or product group  
 
Vegetable fats, flavou ring, frozen herring, lingonberry jam, mineral water, soft drinks, coffee, tea, 
beer, wine, malt, frozen bilberry, potato starch, powdered eggs, ginger snaps, salted meat 
products, skins, hides and leather.  G/AG/W/125/Rev.6/Add.2  
 
- 34 - 
 
  United Kingdom  
 
1. Name/description of the progr amme  
 
 Export Insurance Policy (EXIP) . 
 An EXIP insures an exporter against the risk of not being paid under an export contract or of 
not being able to recover the costs of performing that contract because of certain events which 
prevent its performance or l ead to its termination.  
2. Legal basis  
 
 UK Export Finance 's powers are set out in the Export and Investment Guarantees Act  1991 as 
amended by the Industry and Exports (Financial Support) Act 2009.  
 https://www.ukef.gov.uk  
3. Name/description of Export Finan cing 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 responsibility for the operatio n of UKEF.  
 
4. Total value of export of agricultural products covered by the programme  
 
2013: GBP 481,000  [EUR 567]  
2014: GBP 1.38 million [EUR  1.624 million]  
2015: GBP 624,000 [EUR  736,000 ]  
2016: GBP  768,000 [EUR  906,000 ] 
 
Euro rate for 2016 year calcu lated (recalculated in respect of previous years) on 26 January 2016, 
with an exchange rate of EUR  1.18:  GBP 1. 
 
5. Annual average premium rate/fee per programme  
 
This information is not held . 
 
6. Maximum repayment term per programme  
 
18 months . 
 
7. Annual  average repayment period per programme  
 
This information is not held . 
 
8. Export destination or group of destinations per programme  
 
Greece, U nited Arab Emirates , Ukraine, Russian Federation.  
 
9. Programme  use by product or product group  
 
Cheese, frozen f ish, scotch/whisky, food seasoning, animal feed.  
 G/AG/W/125/Rev.6/Add.2  
 
- 35 - 
 
  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 e xport 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 8 years. The role of the Icelandic 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 abro ad and 
participation in large construction projects 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 export ing of  Icelandic products 
or services;  
b.   undertaking to guarantee or provide guarantees for contracts between exporters and 
purchasers, made in respect of Icelandi c exports of goods and services;  
c.   undertaking to guarantee or ensure accountability for the perf ormance 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 oblig ated 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 o f 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 in suranc e programs and use per programme  
 
Not applicable.  
 
4. Annual average premium rates/fees per programme  
 
Not applicable.  
 
5. Maxim um repayment terms per programme  
 
Not applicable.  
 
6. Annual average  repayment periods per programme  
 
Not applicable . 
 
7. Export desti nation or gr oup of destinations per programme  
 
Not applicable . 
 
8. Program u se by product or product group  
 
Not applicable . G/AG/W/125/Rev.6/Add.2  
 
- 36 - 
 
  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  productive sector, including exporters, 
potential exporte rs 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 Service Industry, Communication and Technology and 
the Creative Industry.  
 
EXIM's suite of trade financing facilities include  Lines of Credit , short and medium term loans, 
denominated in both US and Jamaica dollars, Discounting Facilities and Trade Credit Insurance.   
 
1. Description of the programmes (cla ssification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
 
Direct Financing Support : The EXIM Bank offers trade financing through its Insurance Policy 
Discounting Facility (IPDF). Policyholders under the Trade Credit Insurance scheme can access 
80% financing on goods insured, by assigning the insurance policy as collateral support. Funds are 
available for a pe riod 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. Description of Export Financing Entity:  
 
The Na tional 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:  
 Insurance JMD  36.0 million.  
 Financing JMD  16.0 mi llion. 
 
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.6/Add.2  
 
- 37 - 
 
  Japan  
1. Descriptio n of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export credit support) and relevant legislation  
 
Export Bill Insurance  http://nexi.go.jp/en/products/typ es/bill.html  
Export Credit Insurance for SMEs  http://nexi.go.jp/en/products/types/smes .html 
Export Cred it 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  
 
Incorporated Administrative Agency, Nippon Export and Investment Insurance (NEXI) . 
  
  G/AG/W/125/Rev.6/Add.2  
 
- 38 - 3. Total value of export of agricultural products covered by export credits, export credit guarantees or insurance programmes an d use 
per program me 
Underwritten amount by export of agricultu ral products (FY1995 - Dec. 2015 ) (in 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  (yen)  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 export of agricultural products ( yen) - - - - - - - 
Export Credit Insurance  Number of underwritten  212 232 228 227 240 262 278 
Value of export of agricultural products  (yen)  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 underwr itten 533 540 590 670 688 708 784 
Total/Value of export of agricultural products  (yen)  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  (yen)  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  (yen)  - - - 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 agric ultural products  (yen)  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 export of agricultural products (yen)  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 export of agricultural products (yen)  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 export of agricultural produc ts (yen)  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 export of agricultural products (yen)  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 export of agricultural products (yen)  8,745,225,246  9,170,293,222  13,234,954,179  11,145,639,530  9,121,976,213  6,789,617,193  8,218,933,633  
  
  G/AG/W/125/Rev.6/Add.2  
 
- 39 - Type of Insurance  Fiscal Year (April -March)  2016  
(Apr. -Dec.)  Total  Average  
（1995 -2015） 
Export Bill Insurance  Number of underwritten  212 7,084    
Value of export of agricultural products (yen)  1,219,827,922  30,137,509,534  1,377,032,458  
Export Credit Insurance for 
SMEs  Number of underwritten  178 757   
Value of export o f agricultural products (yen)  753,142,827  3,126,512,400  113,017,599  
Export Credit Insurance  Number of underwritten  1,045  22,409    
Value of export of agricultural products (yen)  4,693,131,463  97,015,068,218  4,396,282,703  
Total / Number of underwritten  1,435 30,250   
Total/Value of export of agricultural products (yen)  6,666,102,212  130,279,090,152  5,886,332.759  
Note:   The total export value of agricultural products subject to the programs is not available.  
 
4. Annual average premium rates/fees per progr amme  
 
Annual average premium fees in FY1995 to FY2015  are: 
10,713 thousand yen ( Export Bill Insurance ) 
851 thousand  yen (Export Credit Insurance for SMEs  and AFF Sector ) 
7,953  thousand  yen (Export Credit Insurance ) 
 
Average premium rates are not available.  
Annual Average Premium fees by export of agricultural pr oducts (FY1995 -Dec.2015 ) (in 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 Insuran ce 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 S MEs Number of underwritten  － － － 3 11 19 25 
Premium fees  － － － 20,512  228,403  314,271  427,644  
Export Credit Insurance  Number of underwritten  399 859 894 979 1,390  1,679  1,796  
Premium fees  1,180,647  3,239,402  4,650,414  5,359,218  8,633,804  11,992,148  13,186,454  
Total/ Number of underwritten  911 1,128  1,169  1,287  1,704  2,014  2,107  
Total/Premium fees  15,704,318  11,306,334  12,407,809  15,029,299  18,604,087  22,844,145  23,780,819   
  G/AG/W/125/Rev.6/Add.2  
 
- 40 -  
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 fe es 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/N umber of underwritten  1,946  1,973  2,439  2,114  2,200  1,564  1,452  
Total/Premium fees   22,185,616  27,726,108  41,613,760  30,040,692  26,715,631  23,677,698  25,487,422  
 
Type of Insurance  Fiscal Year (April -March)  2016  
(Apr. -Dec.)  Total  Average  
（1995 -2015) 
Export Bill Insurance  Number of underwritten  212 7,084    
Premium fees  7,599,115  232,586,346  10,713,678  
Export Credit Insurance for SMEs  Number of underwritten  178 757   
Premium fees  5,503,814  23,391,441  851,792  
Export Credit Insu rance  Number of underwritten  1,045  22,115    
Premium fees  9,524,973  176,540,696  7,953,130  
Total/Number of underwritten  1,435  29,956   
Total/Premium fees   22,627,902  432,518,483  19,518,599  
 
 
 
 
 
 G/AG/W/125/Rev.6/Add.2  
 
- 41 - 
 
  5. Maximum repayment terms per programme  
 
Regarding target ed transactions, the relevant policy will be amended by the end of 2017 pursuant 
to 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 programme  
 
Type of Insurance  Export destination or group of destinations (FY1995 - Dec. 2016)  
Export Bill Insurance  Australia ; Belgium ; Brazil ; Canada ; Chile; China ; Colombia ; 
Commonwealth of the Northern Mariana Islands(USA) ; Croatia ; Denmark ; 
Egypt ; Finland ; France ; Germany ; Greece ; Guam (USA) ; Hong Kong, 
China;  India; Indonesia ; Ireland ; Israel ; Italy; Korea, Republic of;  
Malaysia ; Marshall Islands ; Mexico ; Monaco ; Netherlands ; New Zealand ; 
Pakistan ; Palau ; Philippines ; Poland ; Saudi Arabia, Kingdom of;  Singapore ; 
South  Africa ; Spain ; Sweden ; Switzerland ; Chinese Taipei ; Thailand ; 
United Kingdom;  United States of America.   
Export Credit Insurance for SMEs  Australia ; Brazil ; Canada ; China ; French P olynesia ; Hong Kong , China ; 
India; Israel ; Italy; Korea, Republic of ; Latvia ; Lebanese Republic ; Macao, 
China ; Malaysia ; Netherlands ; Russia n Federation ; Singapore ; Sri Lanka ; 
Switzerland ; Chinese Taipei ; Thailand ; United Arab Emirates ; 
United  States  of America ; New Ze aland ; France ; Viet Nam.  
Export Credit Insurance  Argentin a; Australia ; Azerbaijan ; Bahrain, Kingdom of ; Belgium ; Brazil ; 
Cambodia ; Canada ; Ceuta  (Spain) ; China ; 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 ; Lebanese Republic ; Macao, China ; Malaysia ; 
Mauritius ; Mexico ; Morocco ; Nepal ; Netherlands ; New Caledonia (French) ; 
New Zealand ; Nigeria ; Norway ; 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 ; United Arab Emirates ; United Kingdom ; 
United States of America ; Viet Nam.  
 
8. Programme use by product or product group  
 
Type of Insurance  HS codes of Products or Product groups (FY1995 - Dec. 2016)  
Export Bill Insurance  0408, 0506, 0509, 0510, 0602, 0709, 0710, 0711, 0712, 0811, 0902, 
0910, 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, 3052, 3504, 3505, 5202  
Export Credit Insurance for SMEs  0401, 0602, 0704, 0714, 0806, 0808, 0809, 0810, 1006, 1209, 1602, 
1604, 1605, 1701, 1702, 1806, 1902, 1904, 2001, 2007, 2008, 210 1, 
2103, 2106, 2202, 2203, 2206, 2208, 2209, 2309  
Export Credit Insurance  0201, 0202, 0203, 0207, 0400, 0401, 0402, 0403, 0404, 0405, 0406, 
0407, 0408, 0409, 0505, 0508, 0706, 0708, 0709, 0710, 0712, 0714, 
0805, 0806, 0807, 0808, 0809, 0810, 0811, 0813, 0 901, 0902, 0904, 
0909, 0910, 1001, 1006, 1008, 1101, 1102, 1104, 1106, 1108, 1109, 
1201, 1202, 1207, 1208, 1209, 1212, 1213, 1301, 1302, 1404, 1502, 
1503, 1504, 1505, 1506, 1507, 1509, 1515, 1516, 1517, 1518, 1519, 
1520, 1521, 1603, 1604, 1605, 1702, 1704,  1806, 1901, 1902, 1904, 
1905, 2001, 2004, 2005, 2006, 2007, 2008, 2009, 2101, 2102, 2103, 
2104, 2105, 2106, 2201, 2202, 2203, 2204, 2206, 2207, 2208, 2209, 
2301, 2302, 2304, 2309, 2905, 3301, 3501, 3502, 3503, 3504, 3505, 
3809, 5001, 5203, 5301  
 G/AG/W/125/Rev.6/Add.2  
 
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  Malaysi a 
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  
 
Facilitie s offered by EXIM Malaysia for Agriculture:  
 
a.   Direct Financial Loans:  
i. Cross Border Financing : (The facility provides financial loans to Malaysian 
investors/contractors undertaking project overseas). The bank provides financing based on 
commercial basis (e.g . lending terms based on market rate).  
ii. Trade Finance : (The facility offers Pre -and Post -Shipment Financing at commercial basis).  
b.   Risk Cover/Credit Insurance: export credit insurance is offered as a product to industries. The 
bank provides risk cover/credi t insurance based on commercial basis).  
 
2. Description of Export Financing Entity  
 
Export -Import Bank of Malaysia Berhad is a development financial institution wholly owned by 
Government (through Minister of Finance Inc. and under the Central Bank supervi sion 
(Development Financial Institution Act).  
 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 
For 2015, EXIM Bank has an exposure of RM  147 million in dir ect financing of export from 
agriculture related industries. Data is on aggregated basis rather than by programme.  
 
4. Annual average premium rates/fees per programme  
 
Credit insurance is risk priced based and according to commercial rate.  
 
5. Maximum repa yment 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).  
 
6. Annual average repayment periods per programme  
 
Monthly  repayment applies for Export credit, Export credit guarantee and credit insurance.  
 
7. Export destination or group of destinations per programme  
 
No specification in relation to destinations per programme.  
 
8. Programme use by product or product group  
 
No program me by product or product group.  G/AG/W/125/Rev.6/Add.2  
 
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  New Zealand  
1. Description of the programme (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any other 
form of governmental export  credit support) and relevant legislation  
 
Pursuant to New Zealand 's Public Finance Act 1989, the New Zealand Export Credit Office (NZECO) 
was established to provide trade credit insurance and financial guarantee products to New Zealand 
exporting firms or banks. NZECO is New Zealand 's export credit agency. It does not provide direct 
financing.  
 
NZECO 's Short Term Trade Credit Insurance  covers the risk of a foreign buyer defaulting on their 
short term repayments due to specific commercial or political events . NZECO can only provide this 
product for non -marketable risks and/or where private insurers lack the capacity. NZECO also 
provides co -insurance (top -up cover) policies to support the private insurers ' capacity.  
 
NZECO 's Loan Guarantee is provided to an e xporter 's bank to enable  it to provide additional 
short-term or seasonal funding to support an SME exporter 's working capital needs.  
 
The vast majority of NZECO 's export credit insurance policies in the last 7 years were for 80% 
commercial and political r isk coverage. The maximum was 100 % coverage  (for letter of credits 
cover)  and the lowest was 50% coverage.  
 
2. Description of Export Financing Entity  
 
NZECO is New Zealand 's export credit agency. It is currently located in the New Zealand Treasury 
and oblig ations to third parties are guaranteed by the New Zealand government t hrough the 
Minister of Finance.  The provision of NZECO 's program mes is intended to extend and develop the 
capacity and risk appetite of private providers (insurers and banks).  NZECO is r equired to cover all 
operating costs (including claims) and break -even over the long -term. To meet this requirement, 
NZEC O charges assessment fees and risk -weighted premiums.  
 
See http://www.nzeco.govt.nz/  for mor e information on NZECO.  
 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 
 2010  2011  2012  2013  2014  2015  2016  
Total annual value  of Agricultural Exports 
supported by NZECO  
(in NZD million)  209.3  150.5  169.9  76.4 115.2  30.7 44.5 
Average Policy Exposure (in  NZD million)  1.25 1.36 1.19 1.40 1.35 3.24 4.3 
Average Percentage of cover  80% 80% 80% 80% 85% 90% 92% 
 
4. Annual average premium rates/fees per progra mme  
 
NZECO charges risk -weighted premiums sufficient to cover all operating costs (in cluding expected 
losses) only. NZECO does not report on average premium rates given that premium rates  can vary 
significantly as they are set using several variables inclu ding the buyer 's country risk classifications 
(as set between the Participants to the Arrangement on Officially Supported Export Credits), the 
credit rating of the debtor, the tenor of the credit term, the terms of the repayment and any risk 
mitigations (i .e. using a letter of credit guarantee).  
 
However NZECO does monitor and measure the adequacy of its premium rates through Loss ratio 
calculations (Total Claims Paid & Reserved/ Total Premium Earned).  Since 2009, NZECO 's loss ratio 
on its policies issued in  support of a gricultural transactions is 4.3 %. This means that for every 
USD 1 received in premium, less than five cents has been paid in claims.  NZECO has also been 
monitoring the overall cost -recovery performance of all of its short -term trade credit pol icies 
(agricultural and non -agricultural related) si nce its implementation in 2009.  This has included 
applying an administrative cost in operating this policy (including a pr oportion of general G/AG/W/125/Rev.6/Add.2  
 
- 44 - 
 
  overheads).  Since  2009, NZECO has operated its short -term trad e credit  product with net returns 
(e.g. Revenue > operating costs – Claims & Provisions).  
5. Maximum repayment terms per programme  
 
These vary depending on the program me. The maximum repayment term allowable under the 
Short Term Trade Credit insurance is l ess than one year, however  the average term is 75  days.  
 
The maximum repayment term that has been provided under the Loan Guarantee product  for 
agricultural products was nine  months, to support the working capital cycle of a wine exporter.  
 
For the purpos es of the Nairobi Ministerial Decision on Export Competition (Paragraph 15 (a)) 
New Zealand notifies that NZECO provided support via a committed offer to reinsure Australia 's 
export credit office, Efic, under an existing contract for the export of dairy ca ttle. On 
13 October  2015, NZECO issued a binding commitment to Efic to reinsure New Zealand sourced 
dairy cattle for breeding purposes under an Efic -issued export finance guarantee for a dairy cattle 
project to Sri Lanka.  The repayment term is longer than 18 months.  The shipments and 
NZECO 's reinsurance are scheduled to begin in 2017.  
 
6. Annual average repayment periods per programme  
 
 2010  2011  2012  2013  2014  2015  2016  
Annual average 
repayment periods  Two 
months  Two 
months  Two 
months  Three 
months  Three 
months  Three 
months  Two months 
and a half  
 
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 Europe, Asia, North America, M iddle East and North Africa.  
 
8. Programme use by product or product group  
 
The agricultural products NZECO supported during the period 2010 –2016 included: frozen fruit, 
wine, butter, fruit paste, fruit juice, seeds, milk powder, pelts, hides, peas and woo l. 
 
 
 G/AG/W/125/Rev.6/Add.2  
 
- 45 - 
 
  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 relevan t legislation  
 
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 21 March 2016) . 
 
Eximbank of Russia (REB) provides lending support towards exports. REB was founded by the 
Government Decree № 633 "On the Establishment of the Import -Export Bank of Russia" of 
7 July 1993 and the Government Decree No.  16 "On the Import -Export Bank of Russi a" of 
11 January 1994.  
 
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 finan cial support.  
 
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 
In 2016 total value of export of agricultural products covered by:  
 
EXIAR: USD 185 .36 ml . 
REB: USD 45 .82 ml.  
 
4. Annual average premium rates/fees per programme  
 
In 2016 annual average premium rates were:  
 
EXIAR: 2.3%.  
REB: 11.5%.  
 
5. Maximum repayment terms per programme  
 
In 2016 maximum repayment terms were:  
 
EXIAR: up to 15 months.  
REB: up to 12 months.  
 
6. Annual average repayment periods per programme  
 
EXIAR: 3 months.  
REB: 5 months.  
 
7. Export destination or group of destinations per programme  
 
In 2016 agricultural products were supplied to Belarus, Brazil, Denmark, Estonia, Germany, 
Jordan,  Kazakhstan, Latvia, Republic of Moldova, Romania, Singapore, Switzerland, Turkmenistan, 
Uzbekistan.  
 G/AG/W/125/Rev.6/Add.2  
 
- 46 - 
 
  8. Programme use by product or product group  
Export Credit Insurance, USD million  
EXIAR  2016 
Animal and vegetable fats and oils  96.28  
Confectionery  6.83 
Dairy products  1.00 
Preparations  40.01  
Straches  0.96 
Wheat, pasta, cereal groats  12.83  
Other agricultural products  27.45  
Total 185.36  
 
REB 2016 
Animal and vegetable fats and oils  4.05 
Confectionery  5.18 
Dairy products  1.65 
Preparations  26.71  
Wheat, pasta, cereal groats  8.23 
Total 45.82  
 
 
 G/AG/W/125/Rev.6/Add.2  
 
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  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 governmen tal export credit support) and relevant legislation  
 
The Swiss Export Risk Insurance (SERV) is an export credit agency that does not grant export 
credits but provides pure cover within the above -mentioned risk cover category. The relevant 
legislation for S ERV is the Federal Law on  Swiss  Insurance against Export Risks of 
16 December  2005.3 
 
2. Description of Export Financing Entity  
 
SERV covers political and commercial risks in connection with the exportation of goods and 
services. The insurance and guarante es 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 2016 were non -agricultural goods. No  instruments specific to agricultural goods are available.  
 
3. Total value of export of agricultural products  covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 
Negligible owing to very low demand. See also the reply to question 2 above.  
 
4. Annual average premium rates/fees per programme  
 
5. Maximum repayment terms  per programme  
 
The maximum repayment term has not currently exceeded 180 days.  
 
6. Annual average repayment periods per programme  
 
7. Export destination or group of destinations per programme  
 
8. Programme use by product or product group  
 
Practically only  non-agricultural goods.  
 
                                                
3 See Sw iss Confederation web page:  
http://www.admin.ch/opc/fr/classified -compilation/20041349/index.html . G/AG/W/125/Rev.6/Add.2  
 
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  Thailand  
For Export Credit and Export Credit Guarantees, conditions and interest rate are determined by 
market mechanism.  
Trinidad and Tobago  
1. Description of the program me, classification: direct financing support, risk cover, 
government to government credit agreements or any other form of government 
export credit support) and relevant legislation  
 
The Export Import Bank of Trinidad and Tobago Limited (EXIMBANK) is the only official Export 
Credit Agency in the country.  The four (4)  products offe red by EXIMBANK are  as follows:  
 
Direct Financing Support  
 
1) Revolving Pre -shipment Facility : This facility is similar to a Working Capital credit line or 
Bank Overdraft. It is used to pay foreign and local suppliers of goods and services along  with 
most operating expenses which may be needed in the everyday operations of a business. 
Repayment terms are flexible between 0 -180 days.  
 
2) Demand Loan:  This facility is used to facilitate the purchase or upgrade of any machinery, 
equipment or any other related capital investments that may be needed by a business.  
Repayments terms range from one to five  years.  
 
3) Revolving Post Shipment Discounting Facility : This facility is used for acquiring cash 
up-front for local and foreign sales on credit.  Repayment t erms are flexible 
between  0-180 days.  
 
Risk Cover  
 
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 funds without the hassle of qu euing. 
Some of the facilities are revolving and only require the necessary instruction to be sent in order 
for the transaction to be facilitated.   
 
2. Description of the Export Financing Entity  
 
The EXIMBANK pursues its mission to facilitate the growth and ex pansion of the non-energy 
export and manufacturing sectors  in order to enhance the foreign exchange earnings of 
Trinidad and Tobago, and to create and sustain employment through the provision of short term 
pre and post shipment financing, term loans, guara ntees 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 Institution (Amendment to the Third 
Schedu le) Order 1997 ". This Amendment to the Financial Institutions Act,  allows EXIMBANK to 
conduct "the business of a Confirming House, Acceptance House, Finance House or Finance 
Company ... (and) ...Financial Services" . 
 G/AG/W/125/Rev.6/Add.2  
 
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  3. Total Value of Export of Agricultural Products covered by export credits, export credit 
guarantees or ins urance 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 d etermine 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 exp orter. 
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 ter ms 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 t he 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 Stat es and CARICOM 
States.  
 G/AG/W/125/Rev.6/Add.2  
 
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  8. Program use by product or product group  
 
The following product groups  make use of the major program mes offered by the EXIMBANK  
 
Agro Processing Sector  
Seasonings  
Non Alcoholic Beverages  
Chocolates  
Meats  
Rice and Grain  
 
Other Information  
 
In addition to these services, the EXIMBANK recently launched a trade website http://made -in-
tnt.com/ . This site offers free registration and acts as a hub for lo cal exporters.  G/AG/W/125/Rev.6/Add.2  
 
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  Turkey  
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 l egislation  
 
Turk Eximbank does not have sector specific program mes. However, agricultural products 
exporters can benefit from the export credit, export credit insurance and international loans 
program mes of Turk Eximbank. Brief information about Turk Eximb ak's program mes, the Bank 
itsel and export insurance and finance facilities of the Bank related to agricultural products is as 
follows:   
 
A. Export Credits  
 
a. Short -term Export Credits  
 
Pre-shipment Export Credit Program  is extended to "Sectoral Foreign Trade Companies"  (SFTC), 
manufacturers, manufacturer -exporters and exporters for a maximum of 720 days limited with 
several amounts based on the company profiles. The credit is extended via intermediary Turkish 
commercial banks and participation banks, whi ch are allocated credit lines following an evaluation 
process. These banks are responsible for the default risk of the borrowers. Turk Eximbank 
assumes bank risk rather than that of the exporter or manufacturer. The interest/dividend rate is 
determined by Turk Eximbank according to money market rates, loan repayment periods and cost 
of funding.  
 
Foreign Trade Companies Short -term Export Credit Program  is extended to "Foreign Trade 
Corporate Companies" (FTCC) and "Sectoral Foreign Trade Companies" (SFTC) wi th a repayment 
period of up to 720 days. Applicants must be entitled to FTCC and SFTC status by the Ministry of 
Economy. The interest rate is determined by Turk Eximbank according to money market rates, 
loan repayment periods and cost of funding.  
 
Pre-export Credit Program  is extended to manufacturer -exporters, exporters and export oriented 
manufacturers except FTCC and SFTC for a maximum of 72 0 days for both TL and FX credits . The 
interest rate for FX option is the same as that of PSEC FX and the rate for TL option is the same as 
that of PSEC TL.  
 
Pre-export Credit Program for SMEs  is extended to only small and medium scale enterprises 
directly by Turk Eximbank for a maximum of 720 days for FX and 540 days for TL credits.  The 
interest rate is lower than ot her short -term credits.   
 
Post-Shipment Rediscount Credit Program  covers deferred export receivables of Turkish exporters, 
manufacturer -exporters and manufacturers subject to bankers' acceptances provided by domestic 
commercial banks or irrevocable letters  of credit which is added a payment confirmation by a 
domestic commercial bank; deferred export receivables arisen out of cash against goods, cash 
against documents, irrevocable letter or credit which were insured by Turk Eximbank Short –Term 
Export Credit Insurance policy are discounted by Turk Eximbank. Export receivables with a 
maturity of up to 360 days are discounted on LIBOR  + spread, where spread is determined by 
Turk Eximbank.  
 
Rediscount Credit Program is a pre-shipment financing facility executed w ithin the framework of an 
additional limit to the post -shipment discount limit extended to Turk Eximbank by the Central Bank 
of Turkey . The program me, which requires an export commitment, aims at providin g support to 
Turkish manufacturers, exporters and manufacturer -exporters with maturity up to 360 days in the 
pre-shipment base. Promissory notes issued by exporters on behalf of Turk Eximbank, which have 
the aval of banks possessing a short -term letter of guarantee limit with Turk Eximbank are 
discounted under this limit. Since 2013, letter of guarantees issued by banks possessing 
short-term letter of guarantee limit with Turk Eximbank, including promissory notes without aval 
have also been accepted as guar antee under this program me. Export receivables with a maturity 
of up to 240 days discounted by the Central Bank of Turkey  and up to 360 days are discounted 
from Turk Eximbank's own sources on LIBOR+spread , where spread is determined by Turk 
Eximbank.  
 G/AG/W/125/Rev.6/Add.2  
 
- 52 - 
 
  b. Medium -Long Term Export Credits  
 
The Export Oriented Working Capital Credit Program : Manufacturers and manufacturer -exporter 
firms which are established in Turkey and which produce export oriented Turkish  products are 
eligible to apply for this credit program me in which purchasing of raw materials and intermediate 
goods are financed based on the related expense bills within 180 days before the application date, 
at latest. Th e maturity for this program me is five years with one year grace period. The company 
limit is USD 50 million. The interest rates for foreign currency loans are based on LIBOR/EURIBOR 
plus a spread, while TL loans have a fixed interest rate or TRLIBOR plus a spread that is 
determined by Tu rk Eximbank according to money market rates, loan repayment periods and cost 
of funding.  
 
The Export Oriented Investment Credit Program : It aims to provide finance to the manufacturers 
and manufacturer -exporter firms, producing export oriented goods. The c apital goods such as 
machinery, equipment and other investment materials are financed in return for the related 
expense bills within the 180 days prior to the application date, at latest. The maximum company 
limit is USD 50 million. The loans have a maximu m maturity of seven years with a grace period of 
one or two years. The interest rates for foreign currency loans are based on LIBOR/EURIBOR plus 
a spread while TRL loans have either a fixed interest rate or TRLIBOR plus a spread  that is 
determined by Turk Eximbank according to money market rates, loan repayment periods and cost 
of funding.  
 
Overseas Chain Stores Investment Credit Program : It is extended to Turkish entrepreneurs who 
invest abroad for the establishment of shopping malls and chain stores and t o those who invest 
abroad for the establishment of stores to sell their own brand.  Entrepreneurs who benefit from this 
program may also benefit from the short -term export credit programme s for the export of Turkish 
goods to be sold in these stores. Credits  under this program me are granted for up to seven years. 
The interest rate is determined by Turk Eximbank according to money market rates, loan 
repaymen t periods and cost of funding.  
 
Specific Export Credit Program : It aims to provide finance to Turkish ma nufacturers, exporters and 
manufacturer -exporters having financial needs that cannot be met by other credit program mes of 
Turk Eximbank. Terms and interest rates of the loans provided under this program me are 
determined by Turk Eximbank according to money market rates, loan repayment periods and cost 
of funding on project basis.   
 
Trademark Credit Program : Under this program me, the maturity of the loans are seven  years with 
a grace period of two years or ten years with a grace period of three  years which ar e granted on a 
project basis with a floating interest rate, based on LIBOR/ EURIBOR plus a spread that is 
determined by Turk Eximbank according to money market rates, loan repayment periods and cost 
of funding.   
 
B. Export Credit Insurance Program  
 
a. Short-term Credit Insurance  
 
Short -term Export Credit Insurance Program : All Turkish exporters, manufacturer -exporters, 
FTCCs and SFTCs are eligible for this program me. Cover is available up to 90 % of losses incurred 
as a result of commercial and political ris k. 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).  
 
Short -term Domestic Credit Insurance Program : The policyholders of Short -term Export Credit 
Insuranc e or the companies who are in the same group with these policyholders are eligible for 
this program me. Cover is available up to 90 % of losses incurred as a result of commercial risks. 
Premium is charged according to the risk classification of the buyer and  credit length.  
 
b. Medium and Long -Term Export Credit Insurance  
 
Specific Export Credit Insurance Post -Shipment Risk Program:  This program me provides extended 
cover against commercial and political risks in post -shipment period for the export receivables  
emerging from the sales on credit terms. Goods and services of Turkish origin are eligible and G/AG/W/125/Rev.6/Add.2  
 
- 53 - 
 
  goods and services originating from third countries are off cover. 15% of the contract value is 
expected to be paid in advance, and maximum liability will be up  to 90% of the sum insured.  
 
C. International Loans Programs (Buyer/Supplier Credits and Guarantees Program)  
 
International Loans Programs aims to increase the competitiveness of Turkish exporters and 
contractors in international markets and to provide the m with a risk -free environment for their 
activities in markets that have high political and commercial risks. It also provides support for 
transactions that have strategic importance for foreign. Terms and conditions of the support are 
determined in accord ance with the OECD Arrangement on Officially Supported Export Credits 
(OECD Arrangement). Thus, all applications are evaluated in accordance with the 
OECD  Arrangement and Turk Eximbank appraisal criteria. Exports from third countries cannot be 
subject to t he financing support of Turk Eximbank. Nonetheless, Turk Eximbank can provide 
medium/long term financial support for the cost of goods and services to be supplied from Turkey 
in the amount not exceeding 85% of the export contract value.  
 
International Loan s Programs have actually two main divisions: International Project Loans 
Program (providing credits for the projects held abroad by Turkish Contractors) and International 
Trade Finance Programs (providing buyer/supplier credits for the consumer and capital  goods to be 
exported from Turkey). Provision of financing for the consumer goods, including the agricultural 
products subject to the WT/MIN(15)/DEC Ministerial Decision of World Trade Organization dated 
19 December 2015, are covered through International Trade Finance Programs  which include three 
main Programs mentioned below. Through these three Programs, currently, maturity of any export 
facility provided for all kinds of consumer goods (including agricultural products) cannot be longer 
than 2 years. The  maximum maturity of the said credits shall be limited in the forthcoming years 
in line with the mentioned Ministerial Decision of World Trade Organization dated 
19 December  2015. These three Programs can be summarized as follow:  
 
Foreign States or Banks B uyers' Credit Program aims to meet the financing needs of the foreign 
buyers who are making purchases of goods and services from Turkey. The borrowers are 
sovereigns or those foreign banks that meet the eligibility criteria. The support type is in the form  
of a direct loan; however, providing a guarantee may also be an option.  
 
Export Receivables Discounting Program aims t o provide financing at the post -shipment stage in 
the form of supplier's credit.  Export Receivables arising from export transactions whi ch have been 
covered by "Turk Eximbank Specific Export Credit Insurance Policies" are discounted.  
 
Domestic Banks Buyer Credit Program aims t o meet financing needs of Turkish exporters and their 
foreign buyers. Within the scope of the product, domestic ban ks 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 cor respondent banks operating overseas.  
2. Description of Export Financing Entity  
 
a. Turk Eximbank in Brief  
Turk Eximbank, which was established in 1987, is the sole official export credit agency in Turkey. 
As a wholly state -owned bank, acting as the governm ent's major export incentive instrument in 
Turkey's sustainable export strategy, the Bank maintains close co -operation with the related 
entities of the government. Turk Eximbank's policies and operations have been formulated to work 
within the framework of  the export -led growth strategies since 1980. The Bank operates in the 
framework of the Banking Law  and regulations of the Banking Regulation and Supervision Agency 
of Turkey.  
Turk Eximbank is affiliated by the Prime Ministry or such other Ministry which the Bank will be 
associated. Legislation of Turk Eximbank had been changed in line with the new Turkish 
Commercial Code and the General Assembly of the Bank was established. Thereon, the 
Undersecretariat of Treasury represents the General Assembly.  G/AG/W/125/Rev.6/Add.2  
 
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  Turk Ex imbank was chartered by the Cabinet on August 1987 by Decree no.87/11914, following 
the order of Law No. 3332 (March 1987) by maintaining the juridical and legal personality of State 
Investment Bank.  
 
Turk Eximbank has two regional directorates, one branc h and nine liaison offices in addition to the 
general directorate with a total staff of 639 as of the end -2016.  
b. The Bank's Financial Structure and Support to the Export Sector  
The Bank's main sources of funds are direct funding from the Treasury through  capital injections 
as well as through borrowings from international and national capital and money markets.  
The Turkish Treasury makes capital contributions to Turk Eximbank as the sole shareholder of the 
Bank. These contributions are used to support Turk  Eximbank's activities and to maintain the 
Bank's capital adequacy. In addition, losses incurred by Turk Eximbank in its credit, insurance and 
guarantee transactions as a result of political risks are covered by Turkish Treasury, like in all the 
other offi cially supported Export Credit Agencies (ECAs).  
The nominal capital of Turk Eximbank is TL 3 .7 billion as of December 2016.  If requested, the 
Turkish Treasury supports Turk Eximbank in its funding efforts by guaranteeing the Bank's 
borrowings abroad. As o f end -2016, 7.6% of the Bank's assets are capital stock. This ratio 
indicates that Turk Eximbank, like all other ECAs in the world, funds her activities mainly from 
domestic and international sources rather than capital injections. Hence, the Bank always r eflects 
the cost of funding to the rates she charged in order to secure a sound financial structure.  
Turk Eximbank's identification of financial sustainability as a primary objective is driven mostly by 
its current and future international obligations to t he OECD, WTO and the EU, in which ECAs are 
expected to at least break -even over time and eliminate all trade subsidy programme s. 
Management believes that it is critical to operate within sound commercial guidelines. Additionally, 
as Turk Eximbank borrows f rom international financial markets regularly and its financial 
soundness affects its borrowing costs, a sound financial structure gains more importance. In this 
context, it is very important to implement effective strategies and procedures to control cred it risk, 
liquidity risk, and asset/liability risk. Besides, Turk Eximbank requests credit ratings from Standard  
& Poor's, Moody's and Fitch regularly each year in order to tap the international money and capital 
markets regularly on its own, without the gu arantee of the Treasury.  
Turk Eximbank provided a total export financing support of USD 33 billion in terms of financing 
support and insurance/guarantee, which accounted for 23.2% of Turkey's exports in 2016. 
c. Turk Eximbank's International Obligations  
While implementing its program mes and forming strategies, Turk Eximbank is committed to 
conforming to the internationally accepted rules and regul ations set by the WTO, the 
OECD  Consensus, the EU and the Berne Union. In 1994, Turk Eximbank became a full memb er of 
the Berne Union, an international association of export credit and investment  insurers, and has 
been representing Turkey in the Export Credits and Credit Guarantees Group (ECG) of the OECD 
Trade Committee since 1998, when Turkey became a full member of the Group. Turkey also 
became an observer member of the Participants' Group (PG) of the OECD at the end of 2006; Turk 
Eximbank has been representing Turkey in this Group since the n. Following the decision of 
PG taken in 2013, the status of Turkey and ot her "observer member "s have been renamed as 
"invited participant "s The Bank makes regular reporting and notifications to the Berne Union, the 
ECG, the PG and the WTO.  
As part of its obligations under the Customs Union Decision, Turkey has harmonized its le gislation 
with that of the EU with respect to officially supported export credits. Within this framework, the 
OECD Consensus principles on officially supported export credits with a repayment term of two or 
more years have been adopted on 23 January 1996; the Undersecretariat of Foreign Trade issued 
a Communiqué (Export 96/12) in th e Official Gazette (N o: 22532) and Turk Eximbank is in charge 
of the execution of this Communiqué whose guidelines are in parallel to the principles of the 
OECD  Consensus. Additi onally, since Turkey is a full member of the ECG and an observer member 
of the PG, she complies  with the Arrangement on Officially Supported Export Credits. Turk G/AG/W/125/Rev.6/Add.2  
 
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  Eximbank has been spending efforts to achieve a harmonization of conditions and thus a level 
playing field among ECAs at European and OECD level. Hence, the Bank joins regular meetings of 
the ECG and PG and closely monitors the developments in the Groups. Besides, she complies with 
the reporting requirements of the Creditor Reporting System (CRS) o f the ECG; also provides the 
details of the level of officially supported export credits activity on a six monthly basis. 
Additionally, the Bank completes the annual cash flow questionnaire regularly. Various reporting 
are made and questionnaires are fille d under such subjects as "environment" and "bribery in 
international transactions". After Turkey's observer membership to the PG, the Bank has also 
begun to carry out "payment experience reporting" and "premium feedback tools" as long as they 
were active.  
 
Turk Eximbank has to act in conformity with international rules and regulations as well as sound 
underwriting principles. As a full member of Berne Union since 1994, it has already adopted 
guiding principles set by the Union and sends periodic reports, re garding insurance and lending 
activities, non -payment situations, the terms of cover offered and commitments/offers available, 
to the Union.  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 
2016 – USD 787,210,099 (by export credit insurance program me) 
2016 – USD 1,789,520,874 (by export credit program me) 
2016 – EUR 825,000 [By International Loans Programs (Buyer/Supplier Credit and Guarantee 
Program)] . 
 
4. Annual average premium rates/fees per programme:  
 
2016 – 0.33% (for export credit insurance program me) 
2016 – N.A. (for export credit program me) 
2016 – N.A. [For International Loans dedicated to the consumer goods (including agricultural 
products)] . 
 
5. Maximum repayment terms per programme :  
 
2016 = 360 (for export credit insurance program mes) 
2016 = Credit program mes: maximum 720 days  
2016 = Currently, maturity of the any export facility provided for the export of consumer goods 
(including agricultural pr oducts) under International Loans Programs cannot be longer than two 
years. The maximum maturity of the said credits shall be limited in the forthcoming years in line 
with the WT/MIN(15)/DEC Ministerial Decision of World Trade Organization dated 
19 Decembe r 2015.  
 
6. Annual average repayment periods per programme :  
 
2016 = 31 – 120 days (for export credit insurance program me) 
2016 = 273 days (Short term credit program mes) 
2016 = 540 days (For International Loans dedicated to the  agricultural products in 201 6). 
 
7. Export destination or group of destinations per programme  
 
European Union  countries  
North and Central America  
Japan and Oceania  
Europe other than  European Union countries  
South America  
Africa  
Central and West Asia  
Middle East and North Africa  
Far East  
 G/AG/W/125/Rev.6/Add.2  
 
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  8. Programme use by product or product group  
 
Turk Eximbank does not have sector specific programmes, therefore same conditions (premium 
rates, repayment terms, and average annual repayment periods) apply for all sectors under the 
export credit pro grammes and export credit insurance program mes. Besides, a "product -country of 
destination " data is not kept.  
 G/AG/W/125/Rev.6/Add.2  
 
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  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 program me provides credit guarantees 
to assist in the financing of commercial exports of U.S. agricultural products. The GSM -102 
program me guarantees credit extended by the private banking sector in the United States (or, 
less commonly, by the U.S. exporter) to approved foreign banks using dollar -denominated, 
irrevocable letters of credit for purchases of U.S. food and agricultural products by foreign 
buyers. The terms of the commercial financing extended must be consistent with the credit 
guarantee but are not otherwise dictated under the program me. 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 t erms 
may be lower based on risk. CCC guarantees payments due from approved foreign banks to 
exporters or financial institutions in the United States. However, the financing must be obtained 
through normal commercial sources. Typically, 98% of principal and  a portion of interest are 
covered by a guarantee.  
Classification: The GSM -102 program me is a "risk cover" programme.  
Relevant legislation: The Agricultural Trade Act of 1978, as amended (7 U.S.C. 5622 and 
7 U.S.C.  5641).  
b.   Export -Import Bank: Export Credit  Insurance Program  
The Export -Import Bank (ExIm) of the United States export credit insurance program me allows 
applicants to increase their export sales by limiting international risk, offering credit to 
international buyers, and enabling access to working  capital funds.  The Export Credit Insurance 
Program offers four types of insurance policies that may be used to cover export of agricultural 
products: Short -Term Single Buyer Export Credit Insurance Policies for Exporters; Bank Letter 
of Credit policies;  Financial Institution Buyer Credits; and Multi -Buyer Policies.  No ExIm 
program me is designed to support agricultural products specifically, rather agricultural products 
are treated as general exports and receive no special preference or treatment.  Like othe r 
products, agricultural 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 " program me.  
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 
http://exim.gov/produc ts/exportcreditinsurance/   
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 th e official export credit agency  (ECA) of 
the United States. ExIm is an independent, self -sustaining federal agency that provides export 
credit support for U.S. exports. ExIm provides export credit support o n a non -discriminatory 
basis.  The Bank requires a reasonable assurance of repayment and provides a variety of 
financing mechanisms, including working -capital guarantees, export -credit insurance and 
financing to help forei gn buyers purchase U.S.  goods and s ervices.  
 G/AG/W/125/Rev.6/Add.2  
 
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  3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
 
a.   USDA: Total value of exports of agricultural products covered by the GSM -102 programme  for 
U.S. Fiscal Year4 2016 was US$ 2,192,520,689.  
b.   ExIm: In U.S. Fiscal Year 2016, the U.S. Export -Import Bank insured shipments of agricultural 
products with and estimated export value of US$ 384,735,115 .  
 
4. Annual average premium rates/fees per programme  
 
a.   USDA: F or U.S. Fiscal Year 2016, the average fee for the GSM -102 programme  was USD 0.52 
per USD 100 of guarantee coverage.  
b.   ExIm: For U.S. Fiscal Year 2016, weighted average premium (by shipment value insured) 
charged on short term insurance of agricultural produc ts was USD 0.3567 per USD  100 of 
coverage.  
 
5. Maximum repayment terms per programme  
 
a.   USDA: For U.S. Fiscal Year 2016, the maximum repayment term for the GSM -102 program me 
was 18 months.  
b.   ExIm: Under the Export Credit Insurance Program, on a case -by-case ba sis, bulk agricultural 
commodities 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 2016, the average repayment period for the GSM -102 programme  
was 12.5 months.  
b.   ExIm: For U.S. Fiscal Year 2016, the typical repayment period for the agricultural products 
under the Export Credit Insurance Program is 180 days.  
 
7. Export destination or group of destinations per programme  
a. USDA: GSM -102 programme  for U.S. Fiscal Year 201 6 
Export Destinations  
Africa Middle East Region  
Caribbean Region  
Central America Region  
China Region  
Korea, South  
Mexico  
South America Region  
Southeast Asia Region  
Turkey  
b. ExIm: Export Credit Insurance programme  for U.S. Fiscal Years 2016  
Expor t Destinations  
Africa and Middle East  
Asia 
Caribbean  
Central America  
Europe  
North America  
Eurasia  
Southeast Asia and Oceania  
South America  
 
                                                
4 The U.S. Fiscal Year runs from 1 October – 30 September.  G/AG/W/125/Rev.6/Add.2  
 
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  8. Programme use by product or product group  
a. USDA: The GSM -102 programme  usage by commodity for U.S. Fi scal Year 2016  
Commodity  Value of Exports  for FY 2016  
(in USD)  
Corn Gluten Meal  18,516,894  
Cotton  28,169,891  
Distiller Dry Grains  17,514,426  
Grain Sorghum  9,450,000  
Oranges  972,315  
Rice 108,116,997  
Soybean Hull Pellets  438,900  
Soybean Meal  344,492, 301 
Soybean Oil  99,029,966  
Soybeans  498,734,875  
Swine  143,990  
Wheat  230,399,535  
Wine 716,880  
Corn 835,823,719  
b. ExIm: Export Credit Insurance programme  shipments of agricultural products for 
U.S. Fiscal Year 2016.  
Commodity  Shipment Amount  
for FY 2 016 
(in USD)  
Animal Feed and Supplements  22,300,688  
Beverages (including alcoholic)  16,402,044  
Coffee Tea and Spices  7,644,667  
Confectionery, Various  46,120,508  
Dairy Products  18,319,460  
Flour 4,723,654  
Fruits, Vegetables, and Nuts, fresh, frozen, c anned, or dried  14,147,926  
Grains and Beans  7,458,744  
Live plants and cut flowers  2,341,761  
Meat (except Poultry)  19,060,710  
Miscellaneous Crops  15,392  
Miscellaneous Non -Processed foods fresh or frozen  3,360,036  
Oilseeds and Vegetable Oil  239,690  
Other Farm Product Raw Material  37,736,682  
Poultry  1,647,080  
Processed Foods including canned and frozen  44,255,119  
Tobacco and Tobacco Flavo uring 64,200  
Miscellaneous Agricultural Products  138,896,754  
 
 
 
 
 G/AG/W/125/Rev.6/Add.2  
 
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  Viet Nam  
1. Description of the program me (classification within the following categories: direct 
financing support, risk cover, government to government credit agreements or any  other 
form of governmental export credit support) and relevant legislation  
2. Description of Export Financing Entity  
3. Total value of export of agricultural products covered by export credits, export credit 
guarantees or insurance programmes and use per programme  
4. Annual average premium rates/fees per programme  
5. Maximum repayment terms per programme  
6. Annual average rep ayment 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 3 0/8/2011 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 (hereinafter referred to as the investor);  
b.   The enterprises, economic organizations in countries with export contracts or foreig n 
organizations to import goods from Viet  Nam on the list of export credit loans;  
c.   The Vietnam Development Bank and other organizations and 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 cre dit agreement; 
full implementation of the commitments in the contract and the provisions of this Decree.  
4. The list of projects eligible for investment credit and catalog ue items of export credit loans by 
government regulations.  
 
Loan Conditions:   
 
The bu siness must  have the following conditions:  
- There are plans for aquaculture for export is effectively the Viet Nam Development Bank 
appraisal and loan approval; Have the legal capacity and capacity for civil;  G/AG/W/125/Rev.6/Add.2  
 
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  - Enterprises must fully implement the provisions of the loan guarantee under the provisions 
of existing laws, to purchase property insurance in an insurance business lawfully 
operating in Viet  Nam for the property formed from loans subject to compulsory insurance 
during the term of the loan;  
 
- Enterprises  have to perform accounting, financial reporting in accordance with law; annual 
financial statements must be audited by an agency, an independent audit.  
 
Loan rates:  
 
Maximum lending rates by 85% of the total demand for aquatic animal feed for export under  
the plan was the Vietnam Development Bank appraisal and loan approval, and to ensure the loan 
level maximum for each object is borrowed does not exceed 15% of actual charter capital of 
Vietnam  Development Bank.  
 
Loan term:  
 
The loan term is determined by  the ability to withdraw funds in accordance with the characteristics 
of each loan plan to buy feed seafood export has been serving the Vietnam Development Bank 
appraisal and approval loans, but the lending period for each loan not exceeding 12 months.  
 
__________