Pakistan’s EDF and Pak EXIM Partner to Improve Export Finance and Credit Insurance for SMEs
ISLAMABAD (APP): The Export Development Fund (EDF) and the Export-Import Bank of Pakistan (Pak EXIM) on Tuesday signed a Memorandum of Understanding (MoU) to strengthen Pakistan’s export ecosystem by improving access to finance and risk protection for Small and Medium Enterprise (SME) exporters.
The MoU formalises collaboration between the two institutions on a range of initiatives aimed at expanding financial support and risk mitigation mechanisms for SME exporters, a news release said.
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A key feature of the partnership is the establishment of a Joint Risk Pool to facilitate SME exporters through Pak EXIM’s Export/Trade Credit Insurance (TCI) products.
The initiative is designed to protect exporters against political and commercial risks associated with international trade while improving their access to finance, a major challenge limiting SME export growth.
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The two organisations will also explore co-funding arrangements for export financing, develop credit guarantee mechanisms to encourage greater bank lending to the SME export sector, and promote green and sustainable export initiatives aligned with Pakistan’s environmental and trade objectives.
Both institutions reaffirmed their commitment to implementing the agreed initiatives through timely and practical measures, expressing confidence that the partnership would enhance the competitiveness of Pakistani exporters in international markets.
The MoU signing ceremony was attended by Secretary Finance Imdad Ullah Bosal and Secretary Commerce Jawad Paul, reflecting the government’s commitment to promoting exports and supporting the country’s exporting community.
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The agreement was signed by Dr Muhammad Saeed, Adviser to the Prime Minister and member of the EDF Board, and Shahbaz H. Syed, President and Chief Executive Officer of Pak EXIM, in the presence of senior government officials, EDF Board members, representatives of trade bodies and members of the exporting community.
