EGFI’s export coverage up 43% in 10 months

TEHRAN, Feb. 13 (MNA) –Export Guarantee Fund of Iran (EGFI) offered $3.06 billion worth of export coverages in first 10 months of current year (from Mar. 21, 2010 to Jan. 19, 2021), showing a 43 percent growth as compared to same period of last year.

EGFI put the export coverage of the Fund at $2.645 billion in first 10 months of previous Iranian calendar year (from Mar. 21, 2019 to Jan. 19, 2020).

In this period, Export Guarantee Fund of Iran issued $2.575 billion worth of different types of export credit insurance policies, registering a 51 percent growth as compared to the last year’s corresponding period.

The coefficient of export coverage (share of coverage of the Fund from export of non-oil commodities) hit 6.4 percent last year (ended March 20, 2020), the rate of which reached 10 percent in the current year.

This is while the average rate of this coefficient in peer funds in the developed countries stood at two percent.

As the only export credit insurance institute, Export Guarantee Fund of Iran has tried to remove gaps of Iranian banks and foreign trade to a great extent at the tough conditions caused by sanctions, economic pressure and coronavirus disease that has created adverse effect on the country's trade relations with foreign markets.


News Code 169863


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