Reference is made to the Export Credit Guarantee Insurance Scheme for Manufacturing Companies, which is funded by the Ministry of Finance, Economic Planning and Development since 2018. The scheme provides for EDB to pay 50% of the Credit Insurance Premium subject to a ceiling equivalent to the maximum of 0.2% of the insurable declared turnover.
In the last budget 2020-2021, the Export Credit Insurance Scheme has been renewed and extended to all countries effective for exports worldwide from 1st July 2020 to 30th June 2023.
We are hereby pleased to inform you that companies having an export credit insurance under MEXA Master Policy with COFACE will also be entitled to the above refund as provided by the Government.
Kindly note that the refund will be effective for all insurance premium payment effected as from 18th January 2021.