EximBank launches a new short-term insurance product for the Romanian exporters on behalf of the Romanian state, which allows the continuation of business and the preservation of jobs by taking over the commercial and political risks related to the debtors from the European Union and OECD countries.

“The new facility is aimed at all categories of exporters – small, medium and large enterprises – for which EximBank can cover up to 85% of the losses recorded as a result of commercial and political risks related to trading partners from the countries of the European Union and the Organization for Cooperation and Economic Development (OECD). It is an additional support measure that EximBank implements in the new local and global economic context, meant to provide Romanian exporters with a high degree of protection when doing business with external partners,” said Traian Halalai, Executive Chairman at EximBank.

Through the new insurance scheme, which is valid until December 31, 2020, EximBank can take over the short-term risks to which small, medium and large enterprises are exposed, regardless of the volume of export turnover, the number of external partners they want to insure, for a period of risk, which includes the manufacturing period and the repayment period, of up to two years.

According to the bank, the waiting period, respectively the period between the date of production of the insured risk and the date on which the exporter is entitled to request payment of the compensation is of 90 days.