Delegation of the European Union
to the United Nations - New York

Technical Cooperation Facility to Improve Exports and Trade

30/03/2020 - 13:07
Free Trade

Duration: 4 months (to July 2020)

EU Contribution: EUR 98,636.00

Location: Project funded under the 11th EDF Technical Cooperation Fund (TCF) and managed by the EU Delegation to Trinidad and Tobago

Overall Objective: To provide a wide range of attractive and effective trade finance products to the export sector that will satisfy market needs; to promote international trade, while facilitating regional penetration and expansion at the same time, positioning the business and trade sector to take advantage of global opportunities.

Overview:

Export-Import Bank of Trinidad and Tobago (EXIMBANK) Limited was established by the Government of Trinidad and Tobago to meet the export needs of the domestic economy and to expand trade of the SMEs in the non-energy sector.  To ensure that the company could continue to effectively carry out its mandate, technical assistance was requested for Market Demand Testing on the products and services of the Bank.  The Frankfurt School of Finance and Management GEMEINNUTZIGE GMBH has been charged with implementing the project.

Specific Objectives:

  1. To enhance the overall business and investment climate in Trinidad and Tobago
  2. To expand and enhance Export-Import Bank of Trinidad and Tobago Limited (Eximbank)'s portfolio in order to assist SMEs to facilitate their exports
  3. To examine Trade Finance Product solutions of other Eximbanks (Trade Finance Companies) around the world and determine their suitability in the Trinidad and Tobago market
  4. To develop the framework for an Export Guarantee Program and test market demand and potential acceptance
  5. To strengthen the Eximbank’s capacity to develop and implement trade and support investment.

Activities:

  1. Examination of Trade Finance Product solutions of other Eximbanks (Trade Finance Companies) around the world to determine their suitability for the Trinidad and Tobago market.
  2. Development of a framework for an Export Guarantee Program and test market demand and potential acceptance. This program would be to enable credit worthy exporters to obtain loans from their lenders, while covering a percentage of their loan. Activities will include visiting various banks, field work with businesses etc.
  3. Market testing for Eximbank’s existing product portfolio, including the design of an online survey/questionnaire and provide analysis of the findings. Eximbank will identify potential recipients and locations. A review of existing products is also required to enhance features, benefits and processes (look at procedures etc.), to make more client friendly.

Beneficiary:

EXIMBANK Trinidad and Tobago (http://www.eximbanktt.com/)

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