The Export-Import Bank of the United States (US EximBank) has raised the upper limit of its small business multi-buyer export credit insurance policy to allow more small businesses to export their goods and services more easily.

The move will make letter of credit (L/C) insurance more available for sales to some of the US' most export locations.

Major markets

US EximBank has raised the ceiling on its programme to insure US lenders' confirmation of Korean bank L/Cs.

The bank can now approve requests for up to US$2.9 billion in insurance cover involving L/Cs issued by 11 Korean financial institutions.

Eligibility

The bank says it now has the authority to similarly raise ceilings for its cover on exports to India, Nigeria and Angola, among others.

This particular programme is targeted at small businesses, which must have annual export credit sales of US$7.5 million or less in order to be eligible for support.

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