THE ROLE OF THE EXPORT-CREDIT AGENCY IN SUPPORTING BANK CREDITING OF EXPORT-IMPORT OPERATIONS

The accumulated experience of enterprises shows that among the errors when entering foreign markets, the most common are errors related to miscalculations in the stable financial support of export-import operations. In view of this, consideration of the mechanism of bank lending for export-import operations and the possibility of its support by the Export Credit Agency is extremely important and relevant. The purpose of the article is to reveal the role of the Export Credit Agency in supporting bank lending for export-import operations. The article describes the main models of functioning of Export Credit Agencies, their institutional forms, functions, dynamics of volumes of activity and efficiency. Cooperation with ESA allows to significantly increase the volume of transactions, to create a wide product line of goods for customers, without diverting significant financial resources. As ESAs are located in a large number of countries around the world, banks can offer their customers services to finance import operations in almost all areas. Trade finance agreements take place almost without diversion of the bank's funds, as the exporting bank itself finances its client under the guarantee of ESA, as a result of which the importer receives a deferred payment. The price of attracting trade financing is lower than the price of attracting credit. Since the task of agencies is to support the national economy, not to make a profit, the price of trade finance, with all its components, is lower than the cost of credit by 4–5%. The use of a zero ratio for banks in the formation of the bank's reserve fund, which is one of the factors reducing the total cost of providing such a loan. Thus, the effectiveness of support for bank lending for export-import operations will be determined by the amount of funding and activity of the Export Credit Agency.