EximBank ensures Romanian exports in EU and OECD countries until 2026

Romanian exporters will benefit from extended protection in carrying out commercial relations with partners from EU and OECD countries until December 31, 2026, together with extending the short term insurance scheme of temporary non-market risks which EximBank offers on behalf of and in the account of the Romanian state, according to a press release sent to AGERPRES.

"Apart from extending the application period, the European Commission authorized to widen the area of addressability of this short-term export loan scheme in the SME area, by increasing turnover cap. Thus, the maximum annual turnover for SMEs that are about to be eligible has been increased to up to 2.5 million euros, which represents a 0.5 million euros increase from the initial scheme. We consider that in the current context it is important for Romanian exporters to benefit from as many forms of protection in carrying out international transactions and we encourage Romanian companies to exploit this resource through which EximBank takes on the commercial and political risks, by offering exporters the possibility to conclude new contracts or extend existing ones, under conditions of increased security," said Traian Halalai, the executive chairman of EximBank.

This feature is addressed to all categories of exporters, small, medium and large enterprises, for which EximBank can cover up to 85% of registered losses as a result of commercial and political risks related to commercial partners from EU and OECD countries.

Through this aid scheme, EximBank ensures, on behalf of the Romanian state, for a period of risk taking that is smaller than two years (which includes manufacturing and reimbursing period), liabilities resulted from transactions of exported goods and services against non-market temporary risks.

As Export Credit Agency (ECA) in Romania, EximBank has developed and offers on behalf of, as well as in the account of the Romanian state, insurance products that protects revenue of exporters against risks associated with foreign partners and risks associated to destination countries and facilitates access to financing products, which can be assigned in the favor of the financing banks by filling the guarantee mix.