Country trade data

• Armenian exporters receive short-term bank financing, without collateral, under EIA’s insurance of export contracts
• Eligibility:
• Armenian companies must have at least 1 year of production experience
• Eligible exports include raw materials, packaging costs, product-appearance demands costs, transportation costs, and customs expenses
• Tenor: Up to 2 years
• Insurance cover of 90%
• Insurance tariff between 0.9% and 2.7%

• Used by Armenian exporters to secure transactions in international markets, protecting exporters from the risk of non-payment by a foreign buyer
• May be used for acquisition of machinery and equipment, capital construction, and realization of other capital expenditures
• Tenor: Up to 2 years
• Insurance cover of 75%-95%
• Insurance tariff between 0.55% and 1.9%

• Used by Armenian exporters to obtain unsecured, low-cost financing for fixed assets
• Financial institutions are insured against losses due to non-payment by the foreign buyer or its bank
• Used by Armenian exporters to factor exports to financial institutions
• Insurance cover of 50%-90%
• Tenor: Up to 5 years
• Insurance tariff between 1.5% and 4.7%

• Factoring product for Armenian exporters

• Premium is calculated based on credit periods (tenor), country risk classification, and foreign buyer credit worthiness

• Insured currencies: AMD, USD, EUR, RUB

• Required application documents:
• Export contract and confirmation of payment documents by the foreign buyer
• Other documents on a deal-by-deal basis

• Applications processed and offers made within 10 business days; when the exporter accepts the quote, EIA issues the policy within 2 business days

• Claims can be made within 1 month of non-payment, after a waiting period of 1 to 6 months (at discretion of EIA); EIA makes indemnification decision within 1 month of end of waiting period, and payment is then made within 5 business days

• EIA reinsures its risks with Swiss Reinsurance Company Ltd.

• 2024: EIA signed a memorandum of cooperations with the Greek ECA

• 2024: New cargo insurance program for agricultural exporters from Armenia is launched