Export Finance and Insurance Corporation
- Export Finance and Insurance Corporation
Infobox Government agency
agency_name = Export Finance and Insurance Corporation
logo =
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formed = 1 November 1991
preceding1 =
dissolved =
superseding =
jurisdiction = Commonwealth of Australia
employees = 70
budget = $38.6 m AUD (2006)
chief1_name = Angus Armour
chief1_position = Managing Director
chief2_name = Stuart Neilson
chief2_position = Chief Financial Officer
parent_agency = Department of Foreign Affairs and Trade
website = [http://www.efic.gov.au/ www.efic.gov.au]
footnotes =The Export Finance and Insurance Corporation (EFIC) is Australia’s Export Credit Agency (ECA) and has carried out its role within various statutoryframeworks since 1957. EFIC was established in its current form on 1 November 1991 under theExport Finance and Insurance Corporation Act 1991 (Cth) (the EFIC Act) as a statutory corporation wholly owned by the Commonwealth of Australia.
The EFIC Act charges EFIC with undertaking four key functions:
* to facilitate and encourage Australian export trade by providing insurance and fi nancial services and products to persons involved directly or indirectly in export trade;
* to encourage banks and other financial institutions in Australia to finance or assist in financing exports;
* to manage the Australian Government’s aid supported mixed credit program (a facility which has now been discontinued, although loans are still outstanding under it); and
* to provide information and advice regarding insurance and financial arrangements to supportAustralian exports.
EFIC reports to The Hon Simon Crean MP, Minister for Trade and forms part of the Department of Foreign Affairs and Trade.
External links
* [http://www.efic.gov.au/ Export Finance and Insurance Corporation] official website
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