Guarantees for export credit insurance

On 7 December 2011, the European Commission approved Lithuanian short-term export credit insurance scheme on the basis of which a private limited liability company Investment and Business Guarantees (INVEGA) may temporarily (till 31 December 2012) provide state guarantees for temporarily non-marketable risks related with private and/or public buyers from France, Italy, Poland, Spain, Estonia and the United Kingdom (and from all so called non-marketable risks countries).

The purpose of the Lithuanian scheme is to provide short-term export credit insurance coverage to exporters established in Lithuania who are temporarily confronted with unavailability of cover in the private market for financially sound transactions with buyers in countries mentioned before.

The scheme is based on a “top-up” mechanism. This mechanism ensures that the State supported insurance must only cover export credit risks for which private cover is unavailable.

For more information, visit http://invega.lt/en/ .