Looking Forward To Export Risk Fund

ECGC is keen to see the formation of a special Export Risk Fund so that it can deal more effectively with the high risk exports to certain countries.

This fund would enable the corporation to give risk cover for exports to countries which politically and commercially pose higher risks than general destinations. Risk perception of CIS countries has also gone up.

Some of the states have actually been downgraded as the recovery rate against export orders placed is found to be below norms. Only Russia and Ukraine fall under C grade, while the rest of CIS are in the lowest rung of D category.

Though a debt of Rs 38 crore has recently been recovered from Nigeria, ECGC has still to recover Rs 400 crore from Iraq and Rs 32 crore from Sudan. ECGC has sent a team to Sudan to recover its dues.