On the occasion of the holy month of Ramadan, and in honor of a number of Jordanian Exporters, the Jordan Loan Guarantee Corporation (JLGC) with the support of the Jordan Enterprise Development Corporation (JEDCO) organized an Iftar on Wednesday, 8 August 2012 (the twentieth of Ramadan) in the Kempinski Hotel - Amman, to acquaint the Jordanian Exporters with the Export Credit Guarantee Programme, run by (JLGC).
The Export Credit Guarantee Programme is designed to provide guarantees for the Jordanian exports against commercial and political risks of non-payment by foreign importers or local buyers for the prices of their exports or domestic sales. The guarantee covers up to 90% of the value of the shipment.
The company offers its service to encourage Jordanian Exporters to reach new global markets, following an inquiry about the risks of these markets and the risk ratings of overseas buyers. This guarantee also covers exports made through open accounts in favor of the importers, which still constitute a significant portion of Jordan's national exports. These kinds of exports face higher risk, compared with what is exported through banks' letters of credit.
The Export Credit Guarantees also help Jordanian exporters to obtain better access to finance exports covered by the company.
