International Trade Financce

A to Z list of country or territory cover policies and indicators

Afghanistan

Albania

Algeria

American Samoa

Andorra

Angola

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

Anguilla

For medium or long term cover we can only consider providing support for exports to private sector buyers.

Antigua and Barbuda

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Argentina

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Armenia

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to Care on Location.

For medium/long term business, we are willing to consider Local Currency Financing.

Aruba

Australia

For medium/long term business Local Currency Financing is available.

Austria

Azerbaijan

Subject to Care on Location.

Bahamas

Bahrain

For medium/long term business, we are willing to consider Local Currency Financing.

Bangladesh

Subject to sustainable lending criteria.

Barbados

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Belarus

Belgium

Belize

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Benin

For medium/long term business, we are willing to consider Local Currency Financing.

Subject to sustainable lending criteria.

Subject to Care on Location.

Bermuda

Bhutan

For medium or long term cover we can only consider providing support for exports to private sector buyers.

Subject to sustainable lending criteria.

Bolivia

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Bosnia and Herzegovina

For medium or long term cover we can only consider providing support for exports to private sector buyers.

Botswana

For medium/long term business, Local Currency Financing is available.

Brazil

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

British Virgin Islands

Brunei Darussalam

Bulgaria

For medium/long term business, Local Currency Financing is available.

Burkino Faso

For medium/long term business, we are willing to consider Local Currency Financing.

Subject to Care on Location.

Subject to sustainable lending criteria.

Burundi

Cambodia

For cash or short term cover we would expect payments to be secured by an irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Cameroon

For medium/long term business, we are willing to consider Local Currency Financing.

Subject to sustainable lending criteria.

Canada

For medium/long term business, Local Currency Financing is available.

Cape Verde

Subject to sustainable lending criteria.

Cayman Islands

Central African Republic

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

Chad

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Chile

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

China

For medium/long term business, Local Currency Financing is available.

Colombia

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

Subject to Care on Location.

Comoros

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Congo

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Congo DR (formerly Zaire)

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Subject to Care on Location.

Cook Islands

Costa Rica

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Cote D’Ivoire

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium/long term business, we are willing to consider Local Currency Financing.

Subject to sustainable lending criteria.

Subject to Care on Location.

Croatia

For medium/long term business, Local Currency Financing is available.

Cuba

For medium or long term cover, we can only consider providing support for foreign exchange-earning projects.

Curacao

Cyprus

Our cover policy applies only to the area under control of the Government of the Republic of Cyprus.

Czech Republic

For medium/long term business, Local Currency Financing is available.

Denmark

For medium/long term business, Local Currency Financing is available.

Djibouti

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can consider foreign exchange-earning projects only.

Subject to sustainable lending criteria.

Dominica

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For medium or long term cover we can consider foreign exchange-earning projects only.

Subject to sustainable lending criteria.

Dominican Republic

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Dubai

For medium/long term business, we are willing to consider Local Currency Financing.

Ecuador

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Egypt

For medium and long-term business, Local Currency Financing is available.

El Salvador

We can also consider business where the CABEI acts as borrower or guarantor.

Equatorial Guinea

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Eritrea

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Estonia

Eswatini (formerly Swaziland)

Ethiopia

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

weIn view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Falkland Islands

Faroe Islands

Fiji

Finland

France

French Polynesia

Gabon

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Gambia

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Georgia

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

Subject to Care on Location.

Germany

Ghana

There is significant exposure on Ghana, and our capacity for new business is limited. Please contact our Underwriters for the latest position.

Subject to sustainable lending criteria.

For medium/long term business, Local Currency Financing is available.

Gibraltar

Greece

Greenland

Grenada

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Guatamala

We can also consider business where the CABEI acts as borrower or guarantor.

Guinea

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Guinea-Bissau

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Guyana

Subject to sustainable lending criteria.

Subject to Care on Location.

Haiti

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

WeIn view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Honduras

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We can also consider business where the CABEI acts as borrower or guarantor.

Subject to sustainable lending criteria.

Hong Kong

For medium/long term business, Local Currency Financing is available.

Hungary

For medium/long term business, Local Currency Financing is available.

Iceland

For medium/long term business, Local Currency Financing is available.

India

For medium/long term business, Local Currency Financing is available.

Indonesia

For medium/long term business, Local Currency Financing is available.

Iran

In 2016, UKEF reintroduced cover for Iran in Pounds Sterling and Euros. This is on a case-by-case basis, and allows for contracts of material size (hundreds of millions). We will also consider applications for direct lending.

Iraq

Capacity is limited and it is up to the Government of Iraq to decide which are the priority projects for financing within the cover available.

Subject to Care on Location.

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Ireland

Israel

For medium/long term business, Local Currency Financing is available.

Italy

Jamaica

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Japan

Jordan

For medium/long term business, Local Currency Financing is available.

Kazakhstan

For medium/long term business, Local Currency Financing is available.

Kenya

Subject to sustainable lending criteria.

Kiribati

Subject to sustainable lending criteria.

we areIn view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Kosovo

Kuwait

For medium/long term business, Local Currency Financing is available.

Kyrgyzstan

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Laos

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Latvia

Lebanon

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to Care on Location.

Lesotho

Subject to sustainable lending criteria.

Liberia

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term business we would consider private sector only.

Subject to sustainable lending criteria.

Libya

Liechtenstein

Lithuania

Luxembourg

Macao

Madagascar

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Malawi

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Malaysia

For medium/long term business, Local Currency Financing is available.

Maldives

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Mali

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Malta

Marshall Islands

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Mauritania

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Mauritius

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Mexico

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Micronesia

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Moldova

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Monaco

Mongolia

Montenegro

Montserrat

Morocco

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Mozambique

For medium or long term cover we can only consider foreign exchange-earning projects.

Subject to sustainable lending criteria.

Myanmar

For cash or short term cover we would expect payments to be secured by an irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Namibia

Nauru

Nepal

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Subject to Care on Location.

Netherlands

New Zealand

Nicaragua

Subject to sustainable lending criteria.

We can also consider business where the CABEI acts as borrower or guarantor.

Niger

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Nigeria

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Subject to Care on Location.

Niue

North Korea

North Macedonia

North Mariana Islands

Norway

For medium/long term business, Local Currency Financing is available.

Oman

For medium/long term business, Local Currency Financing is available.

Pakistan

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Palau

Palestinian Authority

Panama

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

Papua New Guinea

Subject to sustainable lending criteria.

Paraguay

For medium/long term business, we are willing to consider Local Currency Financing.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Peru

We can also consider business in Peru where the CAF acts as borrower or guarantor.

For medium/long term business, Local Currency Financing is available.

Philippines

For medium/long term business, Local Currency Financing is available.

Poland

For medium/long term business, Local Currency Financing is available.

Portugal

Puerto Rico

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Qatar

For medium/long term business, Local Currency Financing is available.

Romania

For medium/long term business, Local Currency Financing is available.

Russian Federation

For medium/long term business, Local Currency Financing is available.

Rwanda

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Samoa

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

San Marino

Sao Tome and Principe

For cash or short term cover we would expect payments to be secured by Confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Saudi Arabia

For medium/long term business, Local Currency Financing is available.

Senegal

For cash or short term cover we would expect payments to be secured by Confirmed irrevocable letter of credit or equivalent security.

For medium/long term business, we are willing to consider Local Currency Financing.

Subject to sustainable lending criteria.

Serbia

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Seychelles

Sierra Leone

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Singapore

For medium/long term business, Local Currency Financing is available.

Sint Maarten

Slovakia

Slovenia

Solomon Islands

Subject to sustainable lending criteria.

Somalia

South Africa

For medium/long term business, Local Currency Financing is available.

South Korea

For medium/long term business, Local Currency Financing is available.

South Sudan

Spain

Sri Lanka

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

St Helena

St Kitts and Nevis

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

St Lucia

Subject to sustainable lending criteria.

St Pierre and Miquelon

St Vincent and the Grenadines

Subject to sustainable lending criteria.

Sudan

Suriname

Subject to Care on Location.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Sweden

For medium/long term business, Local Currency Financing is available.

Switzerland

For medium/long term business, Local Currency Financing is available.

Syria

Taiwan

For medium/long term business, Local Currency Financing is available.

Tajikistan

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We would prefer asset based finance or foreign exchange earning projects.

Subject to sustainable lending criteria.

we areIn view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Tanzania

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Subject to Care on Location.

Thailand

For medium/long term business, Local Currency Financing is available.

Timor l’Este

Subject to sustainable lending criteria.

Togo

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For medium or long term cover we can consider foreign exchange-earning projects only.

Subject to sustainable lending criteria

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Tonga

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Trinidad and Tobago

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

Tunisia

For medium/long term business, we are willing to consider Local Currency Financing.

Turkey

For medium/long term business, Local Currency Financing is available.

Turkmenistan

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Turks and Caicos Islands

Tuvalu

We would need to conduct a country review to consider any cover.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Uganda

Subject to sustainable lending criteria.

For medium/long term business, Local Currency Financing is available.

Ukraine

United Arab Emirates (UAE)

Our market risk appetite for United Arab Emirates is shared with Abu Dhabi but not Dubai, which has its own country limit.

For medium/long term business, Local Currency Financing is available.

United States (USA)

Uruguay

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

Uzbekistan

Subject to sustainable lending criteria.

Vanuatu

Subject to sustainable lending criteria.

Vatican City

Venezuela

We are willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Vietnam

For medium/long term business, Local Currency Financing is available.

Virgin Islands (US)

Yemen

Zambia

For cash or short term cover we would expect payments to be secured by an irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Zimbabwe

Definitions

Cash or short term cover

The EU State Aid temporary framework is supporting economies in the context of the coronavirus (COVID-19) outbreak. In addition to our usual market criteria, we can now also support credit insurance business with a horizon of risk of less than 24 months in all EU member states, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the USA. This applies during the transition period.

Care on location

Those countries where there may be regional, ethnic or religious tensions, border disputes/conflict with neighbouring countries which may give rise to additional risks depending on where projects are located. We will need to take into account the location of the project in deciding whether or not support can be provided.

Consensus category (used in the cover indicator table)

Countries are classified under the Organisation for Economic Co-operation and Development (OECD) Arrangement on Officially Supported Export Credits which determines the maximum repayment terms.

Category One – maximum credit period is normally 8.5 years

Category Two – maximum credit period is normally 10 years

However, longer maximum repayment terms may be considered for large civil aircraft, nuclear and non-nuclear power stations, ships, renewable energies and water projects and projects where the cashflows generated will be used to repay the export credit loans.

Foreign exchange-earning projects

Projects which earn foreign exchange income. In certain circumstances it may be possible to provide support for such projects in countries where UKEF cover is not normally available.

Horizon of risk

The total length of time an ECA could be at risk for a contract. This is usually the total period from date of contract to final payment under that contract.

Letters of credit

A letter of credit is an undertaking by a bank to make a payment to a named beneficiary within a specified time, against the presentation of documents which comply strictly with the terms of the letter of credit. There are different types of letter of credit including irrevocable letter of credit (ILC) and confirmed irrevocable letter of credit (CILC).

Market risk appetite

The total amount of risk exposure we would be willing to support for new business in a particular country or territory. For foreign exchange earning projects with robust financing structures and strong risk mitigants, We may be able to exceed the market risk appetite specified. ECA’s make these decisions on a case by case basis.

Medium or long term cover

Where the credit terms are longer than 2 years.

Public or private sector

The status of an entity. Public sector entities are usually government departments, or organisations owned by the State. Private sector entities are businesses owned by private individuals or organisations.

Sustainable lending

For certain poor countries we can only support exports and investments which meet sustainable lending criteria. The export or investment must be expected to assist in the social and economic development of the country or territory, without adversely affecting its underlying debt sustainability position.