Improving the Role of Eximbanks/ECAs in the OIC Member States
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Annex C: Export Credit Health Assessments
The following two Export Credit Health Assessments are based on interviews with the ECAs of
Turkey and Malaysia, as well as secondary research. They are not reflective of broader
stakeholder input which would normally be required to conduct a complete Health Assessment
due to the limitations in the Scope of this study. The scores are relative to other OIC ECAs.
Government Control/Oversight
Summary Assessment:
In Turkey, the government’s Treasury is involved in guaranteeing certain country risks in respect
of export transactions and, therefore, these risks are borne by the government. Any loss
incurred under these credit, guarantee and insurance programs due to political risks are covered
by the Turkish Treasury and compensated appropriately.
Türk Eximbank operates as an autonomous agency of Government, although two senior public
officials sit on its Board of Directors. Underwriting decisions are taken at the level of the Board.
Individual country credits are granted with the approval of the Board of Directors and the
approval of the Minister. The Board of Directors has authority to approve transactions with
credit periods of 2-year or longer for up to USD 20 million.
Occasionally, for foreign policy reasons, Türk Eximbank will set up lines of credit with certain
governments. The Turkish government considers Türk Eximbank to be an important economic
policy tool as part of its sustainable export strategy. The limits of foreign country loans are set by
the Annual Programs within the foreign economic policy of the Turkish Republic by the Supreme
Advisory and Credit Guidance Committee (SCLGC) and approved by Council of Ministers. Türk
Eximbank is audited by the bank supervisor.
The changing dynamics of the Turkish economy and needs of exporters are addressed at the
product level for Türk Eximbank, but there is no systemic assessments undertaken by the
Government to review the entity’s activities to ensure they are still in line with the market needs
and gaps.
Key Dimension Ratings: (1 – lowest, 10 – highest)
Fiscal costs are measured and minimized 9
The government has sufficient control relative to its involvement 8
Government sets clear and attainable objectives 8
The system is regularly reviewed to reflect changes in the private sector 8
Exporter Focus/Service
Summary Assessment:
Given the arrangement Türk Eximbank has with the Treasury and the fact that it is a direct
lender, the Turkish ECA offers good coverage to Turkish exporters. Türk Eximbank develops new
products to reflect the changing needs of exporters and banks. Although it does not
systematically conduct annual surveys to determine the needs of exporters, the Bank collects
data from the Turkish Exporters’ Association and set up a Customer Relationship Department