The Export Finance and Insurance Corporation (EFIC) is Australia’s export credit agency and has carried out its role within various statutory frameworks since 1957. EFIC was established in its current form on 1 November 1991 under the Export Finance and Insurance Corporation Act 1991 (Cth) (the EFIC Act) as a statutory corporation wholly owned by the Commonwealth of Australia.

The EFIC Act charges EFIC with undertaking four key functions:

• to facilitate and encourage Australian export trade by providing insurance and financial services and products to persons involved directly or indirectly in export trade;
• to encourage banks and other financial institutions in Australia to finance or assist in financing exports;
• to manage the Australian Government’s aid supported mixed credit program (a facility which has now been discontinued, although loans are still outstanding under it); and
• to provide information and advice regarding insurance and financial arrangements to support Australian exports.

EFIC reports to The Hon Simon Crean

Simon Crean

Simon Findlay Crean is an Australian politician, and the current Minister for the Arts and Minister for Regional Australia, Regional Development and Local Government in the Australian Federal Government. He was leader of the Australian Labor Party and Leader of the Opposition at the Federal level,...

 MP, Minister for Trade and forms part of the Department of Foreign Affairs and Trade.

External links

• Export Finance and Insurance Corporation official website