Background

Public export credit agencies play a key role for companies operating at international level. In the event of market failure, governments fill liquidity gaps for exporters and mitigate risks associated with conducting foreign business. Public export financing and guarantees are important tools used in promoting the export economy and are usually provided on a subsidiarity basis. The products of Swiss Export Risk Insurance SERV, for example, are often essential for enabling access to new markets in the first place, as they protect exporters against bad debt, especially in emerging and developing countries.