In order to provide financial security to Iranian exporters and effectively boost non-oil exports in the country, the Export Guarantee Fund of Iran (EGFI), an affiliate of the Ministry of Industry, Mines and Trade, was established as an independent legal and financial entity in 1994.

It succeeded the first Export Credit Agency (ECA), established in 1973 to represent the Middle East and North Africa (MENA) regional interests.

Now a legally and financially independent entity that is 100% state-owned, the EGFI’s primary purpose is to provide exporters with:

• Export credit policies to cover the major political and commercial risks involved in their export operations
• Credit guarantees to help them meet their financial requirements

Relying on government support, this fund covers political and commercial risks of export in addition to issuing credit guarantees (surety) to provide the exporters with the necessary finance.

• Insurance policies and guarantees
• Local credit guarantee
• Forex credit guarantee
• Discounting of export bills insurance policy
• Sight L/Cs insurance policy
• Buyer’s credit guarantee
• Bank guarantee insurance policy