Leanne Ma, Senior Administrative Officer (Industries Support) from the Trade and Industry Department of the Hong Kong Special Administrative Region (HKSAR), introduced enhancement measures for the Dedicated Fund on Branding, Upgrading and Domestics Sales (BUD Fund), while Band Yeung, Assistant General Manager at the Hong Kong Export Credit Insurance Corporation
, briefed participants on the special enhanced measures to help local exporters cope with rising credit risks amid the current uncertainties.
State-owned development finance institutions such as Export Credit Insurance Corporation
of South Africa and the Industrial Development Corporation, and export councils such as the South African Electrotechnical Export Council (SAEEC), South African Capital Equipment Export Council, and the Steel Tube Export Association of South Africa will form part of the delegation.
It will be underwritten by the Mandated Lead Arrangers and includes formal approval of export credit support from the Export Credit Insurance Corporation
of South Africa SOC Limited (ECIC).
Etihad Credit Insurance (ECI), the UAE Federal Credit Insurance Company has partnered with Export Credit Insurance Corporation
(ECIC), the South African Export Credit Agency to enhance bilateral trade relations between the two countries.
In addition to these were the Berne Union, Export Credit Insurance Corporation
of South Africa, Export Guarantee Company of Egypt, Finnvera plc, and Guarantco, among others.
There are two African members of the Berne Union: African Trade Insurance Agency (ATI) and Export Credit Insurance Corporation
of South Africa (ECIC SA).
The Kazakh delegation includes representatives of the Ministry of Industry and New Technologies, the Export Credit Insurance Corporation
(KazExportGarant) and more than 20 Kazakh exporters engaged in engineering, building, food, metallurgy and chemistry.
"Such measures, including waiving business registration fees, halving the charges for import and export declarations, reducing profit tax, offeringa new loan-guarantee product with a higher ratio of 80 per cent, and supporting the Hong Kong Export Credit Insurance Corporation
in offering special concessions for SMEs, will tide local SMEs over difficult times by enhancing their competitiveness and easing their financial pressure," she said.
Then, with the guarantee of the Central Government of Nigeria and Offtake Agreements in place, the Company expects to raise the needed US$10 billion to fund the project through a combination of debt and equity through a network of Development Finance Institutions (DFI) with a mandate to fund projects in developing countries (examples of DFIs include Industrial Development Corporation of South Africa Limited, Development Bank of Southern Africa Limited, IFC and African Development Bank, as well as certain export credit agencies like the Export Credit Insurance Corporation
of South Africa (Pty) Ltd (ECIC) and export facilitation banks like the Export-Import Bank of China and other commercial banks.
The Government (June 21) announced the appointment of Dr Dennis Ng Wang-pun to succeed Professor Eric Yim Chi-ming as Chairman of the Hong Kong Export Credit Insurance Corporation
(HKECIC) Advisory Board for a term of two years from July 1, 2019 until June 30, 2021.
The Korean Export Credit Insurance Corporation
itself frankly states the plans to increase insurance coverage volumes for Ukrainian customers as well as for buyers from the CIS region.
In addition, the Hong Kong Export Credit Insurance Corporation
has launched special measures to strengthen protection for Hong Kong exporters affected by US tariffs.