Export Finance Australia, formerly known as the Export Finance and Insurance Corporation (EFIC), is an Australian government agency responsible for supporting the country's export activities. It operates under the Export Finance and Insurance Corporation Act 1991 (Cth) as a statutory corporation fully owned by the Commonwealth of Australia.
Established in its current form on November 1st, 1991. Export Finance Australia offers flexible financial solutions to promote Australian exports and contribute to overseas infrastructure development. The agency collaborates with banks, financial institutions, government bodies such as the Department of Foreign Affairs and Trade, the Australian Trade and Investment Commission (Austrade), and international financiers.[citation needed]
The agency's primary goal is to facilitate Australian businesses in expanding globally and to support export ventures and infrastructure projects in the Indo-Pacific region. Export Finance Australia aims to promote Australia's economic interests in the international market through financial support and partnerships with international organizations.[citation needed]
Role and function
Export Finance Australia’s mandate enables it to support a wide range of export-related transactions and projects, including:
small and medium-sized enterprises
overseas infrastructure development in the Pacific and broader Indo-Pacific region
defence exports through the Defence Export Facility
support for critical minerals projects and businesses in the critical minerals export supply chain through the $2 billion Critical Minerals Facility
Commonwealth entities
Export Finance Australia contributes to broader government objectives by providing expertise and support to the following Commonwealth entities, as directed by the Minister of Trade and Tourism:
Australian Infrastructure Financing Facility for the Pacific, which supports infrastructure in the Pacific and Timor-Leste
National Housing Finance and Investment Corporate, which improves housing outcomes to encourage investment in social and affordable housing.
Northern Australian Infrastructure Facility, which provides loans to infrastructure projects that benefit Northern Australia.
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