Bahrain Development Bank (BDB) will start offering Export Credit Guarantee Programme next July after completing all procedures of implementation in line with the bank’s support to small and medium enterprises in the Kingdom.
The programme which is the first of its kind in Bahrain aims at motivating and encouraging entrepreneurs in export field within the Kingdom’s economic vision 2030, many firms hesitate to export their products to the foreign markets fearing from the risk element. So this programme is aimed at covering all risks such as non-payment and sovereign risk as well as ensuring the delivery of these products to its destination and which there for lead to increase the volume of Bahraini exports to the outside markets and enhance competition among these enterprises.
BDB deputy general manager for Banking services Adnan Al Balushi said that the Export Credit Guarantee Programme was developed following a detailed depth study for the need of small and medium enterprises in the Kingdom of Bahrain related to export marketing plan and regulatory matters.