ECA Issues Its First Guarantee: New Opportunities for Kazakhstani Export
JSC «Export Credit Agency of Kazakhstan» (a subsidiary of «Baiterek» NMH» JSC) has issued its first guarantee to JSC «Bank CenterCredit» for the obligations of ZTOWN Development LLP, which participated in an international tender in Uzbekistan.
«This is an important step in supporting and diversifying exports. Our guarantees reduce financial risks, enhance the competitiveness of domestic enterprises, and open doors for our producers in international procurement» said Madina Erzhanova, Deputy Chairman of the Management Board of the Agency.
ECA offers guarantees that minimize the risk of exporters failing to meet their contractual obligations in international tenders and competitions. These include tender guarantees, performance guarantees, advance payment refund guarantees, and exporter obligation performance guarantees, which help build trust among partners and expand export opportunities worldwide.
Background Information:
- JSC «Export Credit Agency of Kazakhstan» (ECA) is the national institution for the development and promotion of non-resource-based exports. As part of its core activities, the agency provides insurance protection against non-payment risks in foreign trade transactions for exporters in the manufacturing sector and second-tier banks, ensuring security at all stages of the export cycle.
- ZTOWN Development LLP is a Kazakhstani manufacturing company specializing in high-value-added production. The company has a strong track record and significant potential for exporting finished products.
