Improving the Role of Eximbanks/ECAs in the OIC Member States
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companies (local and their global subsidiaries) in expanding their exports by providing risk
coverage from non-payment of buyers.
ECIE is directly funded by the government and is governed by the UAE Insurance Authority.
ECIE offers a comprehensive Short Term Policy providing credit insurance coverage against non-
payment of their customers for products or services sold on credit terms of up to 180 days.
Payment terms of up to 360 days may also be considered, as well as a Single Risk policy. ECIE
also provides debt collection and business information services.
DEDC complements the company’s insurance offerings providing a) Partner Export Services, in
which exporters receive support and guidance when establishing or expanding their export
businesses including market intelligence and concessions on-the-ground assistance in overseas
markets; b) Dubai Export Academy which was established to enhance the skills and success of
UAE businesses looking to expand or enter into foreign markets by providing essential
information on foreign markets, export management, trade data and policy analysis; c) Export
Assistance Program (EAP) providing financing to SMEs for export operations in international
markets and to enhance the capacity of manufacturers and service providers in key industry
sectors and d) Export Resource Centre which assistance to businesses launching or expanding
their export operations.
ECIE is part of the COFACE global network.
Analysis:
ECIE is essentially a provincial ECA with ambitions to become a national agency. Efforts to bring
in Abu Dhabi to increase the capital of ECIE and to create a national ECA have been undertaken
but no progress has yet been made.
ECIE, as part of Dubai’s export promotion agency, has an unusual business model for an ECA.
However, this arrangement has significant merit for exporters, given that ECIE’s approach is
driven by government policy on export promotion and SME development and is directly related
to DEDC’s mandate.
Another unusual feature of ECIE is that it is licensed by the insurance authority of the UAE which
requires it to meet certain solvency requirements, come under the supervision of the authority
and to undertake external audits.
3.5 Country Summaries: Asian Group
3.5.1 Albania
Export Credit Guarantee Fund (ECGF)
Description:
In October 2007, an Export Credit Guarantee Fund scheme was launched by Albinvest with an
initial capital of ALL 200 million (USD 1.9 million) from the Government to run for 6 years. The