Today, Export Guarantee and Insurance Corporation (EGAP) signed with the Czech Export Bank an agreement on co-operation in insurance of pre-export credits and bank guarantees for small and medium-sized enterprises.
In contrast to usual procedures, the agreement enables EGAP to assume evaluation and rating of clients made by the bank and simplify thus decision process on extension of insurance as well as to shorten it substantially. In practice, it means a much easier access to financing and insurance of exports with state support for small and medium-sized enterprises.
EGAP has been offering an option of concluding such agreement to banks financing Czech exports since beginning of 2006. Česká spořitelna, Bawag Bank, Commerzbank and Komerční banka have already accepted the option of concluding such agreement.
Insurance of pre-export credits and bank guarantees in a simplified regime is a factual fulfilment of the "Export Strategy of the Czech Republic for the period 2006 - 2010"; support of export activities and competitiveness of small and medium-sized enterprise on international markets belongs among its priorities.