Export Credit Agency
An Export Credit Agency (ECA) is a financial institution that provides support to domestic companies engaged in international trade. ECAs help businesses by offering loans, guarantees, and insurance to mitigate risks associated with exporting goods and services. This support encourages companies to enter foreign markets and compete globally.
ECAs play a crucial role in promoting economic growth by facilitating exports, especially for small and medium-sized enterprises. They often collaborate with other financial institutions and government agencies to ensure that exporters have access to the necessary funding and resources. Examples of ECAs include the Export-Import Bank of the United States and UK Export Finance.