Press releases

Export Credit Agency of Kazakhstan, a subsidiary of Baiterek Holding, is introducing new financing programs for Kazakhstani manufacturers and exporters.

The organization's mandate and capabilities have significantly expanded following its recent transformation from Export Insurance Company into Export Credit Agency. Alongside its existing services – such as insurance, reinsurance, and pre-export and export trade financing – the agency is now introducing additional financial products. These include guarantees for export transactions and subsidies on interest rates for export loans.

The new guarantee services include:

• Fulfillment guarantee for obligations under an export contract
• Advance payment return guarantee under an export contract
• Tender guarantee
• Bank guarantees to secure the exporter's obligations

The new guarantee services will empower Kazakhstani manufacturers to participate in international tenders and expand their presence in key foreign markets.

These services will also help attract advance payments from importers by providing a guarantee from the Export Credit Agency of Kazakhstan, ensuring payment obligations under export transactions. For export transaction guarantees, the base tariff is set at 4.6%.

The Agency now offers 22 programs designed to meet the diverse needs of entrepreneurs at various stages of the export cycle. Beyond traditional financing, the Agency provides specialized programs that support Kazakhstani businesses in exporting services to foreign markets. A key advantage of these programs over typical banking products is their flexibility in processing applications.

“We are expanding the service offerings to boost exports to international markets. Additionally, the guarantee services address challenges related to issuing bank guarantees and ensuring the fulfillment of obligations to foreign partners. By advancing non-resource exports, we are reinforcing the foundation of state support, which makes the economy more diversified and resilient. Our potential in the global market is vast, particularly with our innovative products and services,” said Allen Chaizhunusov, Chairman of the Board of Export Credit Agency of Kazakhstan.

Currently, the most popular programs offered by Export Credit Agency of Kazakhstan include:

• Export credit insurance: Protects exporters from the risk of non-payment by foreign buyers when shipments are made with deferred payment terms.
• Loan insurance: Safeguards financial institutions against the risk of exporter default under a loan agreement, while also enabling exporters to secure financing even without sufficient collateral.
• Export letter of credit insurance: Offers foreign buyers of Kazakhstani products and services trade financing on favorable terms.

Through these programs, Export Credit Agency supports Kazakhstani manufacturing companies in expanding their market reach, scaling or modernizing production, opening new production facilities with advanced processing capabilities, broadening their product range, and enhancing product quality. This, in turn, fosters the development of high technologies and increases the added value of their offerings.

In the first half of 2024, the Agency financed domestic exporters with 142.1 billion tenge. By the end of this period, the insurance portfolio had reached 476 billion tenge, yielding an economic impact of 650 billion tenge.