Launch of export insurance to Algeria, Lebanon and Egypt

Agricultural exporters can now benefit from insurance for their transactions with Algeria, Lebanon and Egypt, Michel Sapin and Stéphane Le Foll announced on 22 November. “A new short-term credit insurance offer specifically intended for agricultural exporters to Algeria, Lebanon and Egypt” is managed by Coface, according to a press release from the Ministries of the Economy and Agriculture. The maximum coverage period is 18 months, for a guaranteed share of 90%, “whatever the amount of the guaranteed operation”. The rate applied depends on the duration of the operation and the country risk classification, the press release states. Manuel Valls announced on 4 October, as part of the Pact for the consolidation and refinancing of agricultural holdings, the implementation before mid-November of a system specifically dedicated to the agricultural and agri-food sectors to meet the challenges of exporting to certain destinations not covered by credit insurance. The aim is to “support (these sectors) in their exports to countries with market failures”, the two ministries state.

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