Insurances

The Government of Mongolia and Mongolian Re partnered with International Development Association, the World Bank to support SMEs in Mongolia’s non-mining sectors by strengthening their export capabilities and expand their access to export markets. The Project will provide training, and access to export credit insurance products for the SMEs. 

Export credit insurance

Export credit cover insures an exporter against the risk of not being paid under an export contract or of not being able to recover the costs of performing that contract because of events which prevent its performance or lead to its termination.

Insurance coverage:

• Commercial risk – foreign buyer fails to make payment of amount receivable within due date, foreign buyer becomes insolvent,
• Political risk - Local currency amounts are not converted or transferred, export, import embargo, Adverse measures are taken by foreign governments or warlike events arise, Contract performance becomes impossible due to political circumstances,