{"id":7715,"date":"2020-12-08T12:42:25","date_gmt":"2020-12-08T09:42:25","guid":{"rendered":"http:\/\/www.eximbank.ro\/en\/?p=2881"},"modified":"2020-12-08T12:42:25","modified_gmt":"2020-12-08T09:42:25","slug":"eximbank-continues-to-cover-risks-for-romanian-exporters-for-another-6-months-in-eu-and-ocde-countries","status":"publish","type":"post","link":"https:\/\/www.eximbank.ro\/en\/2020\/12\/08\/eximbank-continues-to-cover-risks-for-romanian-exporters-for-another-6-months-in-eu-and-ocde-countries\/","title":{"rendered":"EximBank continues to cover risks for Romanian exporters for another 6 months in EU and OCDE countries"},"content":{"rendered":"\n<p><strong>Bucharest, December 08, 2020<\/strong> \u2013 Romanian\ncompanies continue to benefit from the coverage of their commercial transactions\nwith foreign partners as European Commission has authorized the extension of\nthe insurance short term scheme for non-marketable and temporary non-marketable\nrisks offered by EximBank in the name and on the account of the Romanian state\nup to June 30<sup>th<\/sup>, 2021. <\/p>\n\n\n\n<p>This\ninsurance product has been launched in the first part of this year due to the\nCOVID-19 pandemic in order to support the business continuity for the Romanian\nexporters and maintaining the workplaces by covering the commercial and political\nrisks associated to debtors from European Union and OCDE countries, valid until\nDecember 31<sup>st<\/sup>, 2020.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"690\" height=\"338\" src=\"http:\/\/www.eximbank.ro\/en\/wp-content\/uploads\/2020\/04\/asiguram-1-690x338.jpg\" alt=\"\" class=\"wp-image-2809\" srcset=\"\/wp-content\/uploads\/2020\/04\/asiguram-1-690x338.jpg 690w, \/wp-content\/uploads\/2020\/04\/asiguram-1-300x147.jpg 300w, \/wp-content\/uploads\/2020\/04\/asiguram-1-768x376.jpg 768w, \/wp-content\/uploads\/2020\/04\/asiguram-1-1536x751.jpg 1536w, \/wp-content\/uploads\/2020\/04\/asiguram-1-2048x1002.jpg 2048w\" sizes=\"auto, (max-width: 690px) 100vw, 690px\" \/><figcaption>Close up of sailboat rigging<\/figcaption><\/figure>\n\n\n\n<p>The\nfacility targets all exporters \u2013 SMEs, medium and large for which EximBank may\ncover up to 85% of the losses incurred by commercial and political risks\nconnected with commercial partners from the European Union and OCDE countries. <\/p>\n\n\n\n<p>\u201dFollowing the\nre-evaluation of the economic environment impacted by the COVID-19 pandemic,\nthe European Commission has extended the validity of this insurance scheme thus\ncreating the framework for EximBank to offer to Romanian exporters a high\nprotection level in business dealings with foreign partners. It is an\nadditional support measure that EximBank implements in this new economic local\nand global context, offering to Romanian companies a similar level of support\nas provided for European companies.\u201d, said Traian Halalai, Executive President\nof EximBank.<\/p>\n\n\n\n<p>Through\nthis insurance scheme EximBank covers short term risks that small, medium and\nlarge companies face, regardless of the export turnover and the number of\ninsured foreign debtors for a term up to two years (including manufacturing and\nreimbursement).<\/p>\n\n\n\n<p>In\norder to benefit from this facility, exporters must have a favorable commercial\nexperience and\/or payment history (when the business relationship is not new)\nand the buyers must have a positive background in terms of indemnification,\nacceptable potential payments default and internal and\/or external financial\nrating. The waiting period, namely the timing between the risks\u2019 occurrence and\nthe date when the exporters are entitled to demand indemnification is 90 days. <\/p>\n\n\n\n<p>As Export Credit Agency (ECA) in Romania, &nbsp;EximBank has developed insurance\nproducts offered in the name and on the account of Romanian state that are protecting the cash-ins of the\nexporters against the risks associated with foreign partners or the export\ntarget country thus facilitating access to financing lines&nbsp; as the policies may be assigned to lending\nbanks as part of the guarantee mix. The bank may cover risks on all\ninternational markets both in European Union and in the extra-community countries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bucharest, December 08, 2020 \u2013 Romanian companies continue to benefit from the coverage of their commercial transactions with foreign partners as European Commission has authorized the extension of the insurance short term scheme for non-marketable and temporary non-marketable risks offered by EximBank in the name and on the account of the Romanian state up to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-7715","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EximBank continues to cover risks for Romanian exporters for another 6 months in EU and OCDE countries - 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