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Product

Export credit insurance

The Government of Mongolia and Mongolian Re partnered with International Development Association, the World Bank to support SMEs in Mongolia’s non-mining sectors by strengthening their export capabilities and expand their access to export markets. The Project will provide training, and access to export credit insurance products for the SMEs. 

Working capital insurance
Working capital cover insures a bank against the risk of not being paid by the exporter by providing security for the loan and thus taking over the main part of the risk faced by the financial institution.

Insurance coverage:  

  • Exporter fails to make payment of loan or interest,
  • Exporter becomes insolvent,


Export credit insurance

Export credit cover insures an exporter against the risk of not being paid under an export contract or of not being able to recover the costs of performing that contract because of events which prevent its performance or lead to its termination.

Insurance coverage:

  • Commercial risk – foreign buyer fails to make payment of amount receivable within due date, foreign buyer becomes insolvent,
  • Political risk - Local currency amounts are not converted or transferred, export, import embargo, Adverse measures are taken by foreign governments or warlike events arise, Contract performance becomes impossible due to political circumstances,