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Financing and ensuring loan backed export: Croatian experiences

The manufacturer deliverer does not have enough financial resources of its own to finance the export business during the production and after delivery when the sale is covered by loan. The short-term financial resources the manufacturer deliverer provides from the bank, usually on the ground of a letter of credit, bill of exchange or the buyer's bank guarantee. Every country tries to enlarge its export and helps exporters by approving the selective export credits. First national institutions for financing the export business were founded after the World War I. The problem of taking risk comes with financing the export business. The Governments of every country take the risk of and guarantee the export business through different forms of insuring and financing. In Croatia, the Croatian Bank for Reconstruction and Development (HBOR) deals with financing and insuring the credit-covered exports. The users of loans are companies and persons registered in the Republic of Croatia, who export Croatian goods and services. The user receives such financial means through commercial banks, which have signed a co-operation agreement with the Croatian Bank for Reconstruction and Development. The export of goods of Croatian origin, construction works and services are covered by HBOR.

loan backed exports; financing of export; ensuring of export

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