Philippine Export-Import Credit Agency

Mission and Vision We are a sovereign guarantor extending credit, export insurance and related services to business entities in order to develop the Nation's export industry and facilitate investment in strategic sectors of the economy. By 2018, PhilEXIM shall be the preferred credit guarantee institution facilitating international trade and investments responsive to the developmental needs of the country. Mandate and Historical Background 2002 Executive Order No. 85 (March 18) Designating TIDCORP as the Philippine Export-Import Credit Agency (PhilEXIM) to strengthen its role in the development and expansion of international trade as well as to effectively respond to the economic requirements of the country. 1998 Republic Act No. 8494 (February 12) An act reorganizing and renaming PHILGUARANTEE as the Trade and Investment Development Corporation of the Philippines (TIDCORP) and expanded its functions and client base. Under the Act, TIDCORP can grant export and domestic credit insurance as well as investment insurance. TIDCORP can now provide financing services to any entity organized or licensed to do business in the Philippines. 1977 Presidential Decree No. 1080 (January 31) Amended Presidential Decree No. 550 creating the Philippine Foreign Loan Guarantee Corporation, which created Philippine Export and Foreign Loan Guarantee Corporation (PHILGUARANTEE) to guarantee not only approved foreign loans for developmental purposes but also loans granted by domestic and foreign financial institutions to exporters and manufacturers of export products as well as contractors with approved service contracts abroad. Corporate Objectives and Functions Pursuant to Presidential Decree No. 1080 as amended by Republic Act No. 8494, PhilEXIM’s expanded functions are the following: To promote and facilitate the entry of foreign loans into the country for development purposes having special regard to the needs of export-oriented industries, industries registered with the Board of Investments, public utilities, and industries the promotion of which is encouraged by government policy; To guarantee loans granted by Philippine banking and financial institutions to qualified exporters, producers of export products, and contractors with approved service contracts abroad; To facilitate and assist in the implementation of approved service contracts abroad entered into by Philippine entities, enterprises, or corporations with foreign exchange earning potentials, by providing counter-guarantees to Philippine banks and financial institutions issuing stand-by Letters of Credit or of Letters of Guarantee for the performance of said service contracts; To meet requests from domestic entities, enterprises, and corporations to assist them in the coordination of their development and expansion plans with a view to achieving better utilization of their resources; To provide insurance cover, credit and appropriate services to facilitate the export of Philippine goods or services by any entity, enterprise or corporation organized or licensed to engage in business in the Philippines; To provide direct credits and loans to exporters of Philippine goods and services; To provide technical assistance in the preparation, financing, execution of development or expansion programs, including the formulation of specific project proposals. To undertake such actions that are consistent with the primary purposes of the corporation.