exporthitelügynökségek

Exporthitelügynökségek, often translated as export credit agencies (ECAs), are financial institutions, typically government-owned or backed, that support the international trade of their home countries. Their primary role is to facilitate and promote exports by mitigating the risks associated with international transactions. This is achieved through various financial instruments, including export credit insurance, loan guarantees, and direct lending.

Export credit insurance protects exporters against non-payment by foreign buyers due to commercial risks like insolvency or protracted default, or political risks such as war, expropriation, or currency inconvertibility. Loan guarantees allow exporters or their foreign buyers to obtain financing from commercial banks at more favorable terms than they might otherwise receive, as the ECA assumes a portion of the repayment risk. Direct lending involves the ECA providing financing directly to foreign buyers for the purchase of goods and services from the ECA's home country.

ECAs play a crucial role in leveling the playing field for domestic exporters, especially when competing against companies from countries with strong ECA support. They can enable businesses to enter new or challenging markets, undertake larger projects, and offer competitive payment terms. While their primary objective is to support national exports, they often operate with the aim of also fostering sustainable development, particularly when financing projects in developing countries. The specific mandates and operations of ECAs can vary significantly from country to country.