Export Credit Guarantee Company of Egypt
Last updated on 04 Dec 2024
Key facts
A private entity majority-owned by the Export Development Bank of Egypt. ECGE is the country's ECA supporting exporters with trade finance solutions.
PRIVATE
1992
Credit rating (sovereign) (Fitch)
B-
B-
Foreign currency
Local currency
Country trade data
2022 top export sectors
Mineral fuels, mineral oils and products
29%
Fertilizers
8%
Clothing accessories
7%
Plastics & articles thereof
5%
Iron & steel
3%
2022 export destinations
Products
- Insures Egyptian exporters and foreign exporters with Egyptian ownership against non-payment as well as lenders
- Also may be used to insure intra-company sales, local sales, and imports of strategic and capital goods for industrialization
- Cover: Commercial and political risks
- Political risk-only coverage only available post-shipment
- Bank guarantees in respect of exports with Egyptian origin, exports of Egyptian owned entities abroad, and imports of strategic and capital goods for industrialization
- Cover: Commercial and political risks
- Export factoring: Finance, protection, and collection through the purchase of export sales invoices without recourse to exporter
- Import factoring: Issue guarantees on Egyptian importers to facilitate importation through open account transactions without cash collateral or bank guarantees
- ECGE monitors and recovers overdue accounts for Egyptian exporters through a network of overseas debt collector partners
- Political risk insurance for Egyptian owned companies investing abroad and foreign companies investing in Egypt
- Contract frustration guarantee insures receivables in respect of offf-take agreements with the public and private entities, equipment finance, project finance, and unfair calling of bonds
- Other products include microfinance guarantee, leasing guarantee, consumer finance guarantee, LC guarantee, fair calling of bonding guarantee, and SME guarantee
Policies
- Factors Chain International member
- Aman Union member
News
- 2023: The Egyptian parliament approved the launch of the Egyptian Export and Investment Guarantee Agency (EEIGA), a new ECA