Hungarian Export Credit Insurance Ltd and Hungarian Export-Import Bank plc (EXIM) | Export Credit Agency (ECA) in Hungary |
The objective of the Hungarian Export-Import Bank Plc. (Eximbank) and the Hungarian Export Credit Insurance Plc. (MEHIB) is to serve Hungarian exporters through the provision of effective financing and insurance facilities. Acting as a tool for providing economic-policy incentive, the mission of Eximbank and MEHIB is to support Hungarian exporting enterprises in facilitating the retention of jobs, growth in employment and an expansion of Hungary’s export capacities. The state-owned Eximbank and MEHIB perform the tasks of Hungary’s export credit agency, which are regulated by the legislative frameworks of the OECD and the EU, with the basic objective of facilitating the sale of Hungarian goods and services in foreign markets. The Bank and the Insurer, which operate within an integrated framework, carry out their duties with a shared organisation and corporate identity, under the name of EXIM.
A summary of Hungarian Export Credit Insurance Ltd and Hungarian Export-Import Bank plc (EXIM)
Summary video of Hungarian Export Credit Insurance Ltd and Hungarian Export-Import Bank plc (EXIM) and how it operates in Hungary. EXIM – Pureco Kft. sikersztori.
Hungarian Export Credit Insurance Ltd and Hungarian Export-Import Bank plc (EXIM) – Benefits of using an ECA in Hungary
- Credit facilities
- Protection from loses
Here is a list of the products that EXIM offers for its members. It is all summarised.
- Buyer Credit Facilities
- Export Promoting Credit Program
- Discounting facilities
- Guarantee commitments
- Direct Export Pre-financing
- Capital Assets Investments
The National Assembly approved a law in 1994 establishing the Hungarian Export-Import Bank (Magyar Export-Import Bank, or Eximbank) in order to provide financing for the foreign-trade activities of companies operating in Hungary. Eximbank operates under the direct authority of the Ministry of External Economy and Foreign Affairs (source in Hungarian)
Eximbank is based in Budapest and operates offices in eight other towns and cities in Hungary (source in Hungarian).
In September 2014, National Assembly representatives from the Fidesz–Christian Democratic People’s Party alliance and the nationalist party Jobbik voted to amend the law governing the operations of Eximbank in order to make it possible for party officials to serve as the CEO of the bank and to sit on its board of directors and supervisory board (source A, B and C in Hungarian).
These amendments also permitted Eximbank to grant loans to support the investments of companies based in Hungary aimed at “improving their international competitiveness” (source in Hungarian)
Cars and Vehicles – One of the biggest exports globally, we’re experts in trading automobiles, working with car dealerships and fleet management services
Finished Goods – Our innovative structuring capabilities allow us to put together complex finance structures, even if the end goods are finished
Soft Commodities / Grains – We’ll work with traders and producers to help them increase their trade flows in the jurisdications they’re operating in
Metals – From scrap metal to alloys, we help traders and distributors access trade, receivable or PO finance for iron, steel and non-ferrous metals