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					Guarantee Directory for Lenders

              Finance Alliance for Sustainable Trade
              393 Rue St-Jacques Ouest
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Table of Contents
About FAST                                                                                                                                                2

Global Funds:

ARIZ/AFD                                                                                            Error! Bookmark not defined.1

MIGA                                                                                                                                                      2

Proparco                                                                                                                                                  2

USAID                                                                                                                                                     3
African Funds:

AGRA - Alliance for a Green Revolution in Africa                                                                                                          4

FAGACE - Fonds Africain de Garantie et de Cooperation Economique                                                                                          4

FSA - Fonds de Solidarite Africain                                                                                                                        5

GARI - Fonds de Garantie des Investissements Prives en l'Afrique de l'Ouest                                                                               5

Latin American Funds:

Fondo do Garantia para Pequenos Empresarios (FOGAPE)                                                                                                      6

Fondo Agropecuario de Garantias (FAG)                                                                                                                     7

PROGAPE                                                                                                                                                   7

PROGAIN                                                                                                                                                   8

PROGARA                                                                                                                                                   9

Fondo de Garantia para Pequenos Empresarios (FOGAPI)                                                                                                    10

Asian Funds:

Asuransi Ekspor Indonesia (ASEI)                                                                                                                        10

PT Askrindo                                                                                                                                             11

PT PKPI                                                                                                                                                 11

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                                                   About FAST

  An international, member driven, non-profit association, FAST represents financial institutions and producers
     dedicated to bringing sustainable products to market. FAST will work to ensure the continued growth of
sustainable production and trade by increasing the number of producers in developing nations who successfully
     access quality trade finance. Developed out of a recognized need to improve the delivery of finance and
    financial management tools to producers in the sustainable trade arena, FAST will help facilitate producer
  adoption of sustainable practices and entry into sustainable markets by improving their access to vital credit
    and financial services. The creation of better access to business finance is widely considered a vital tool in
  poverty reduction and rural development, especially since small and medium sized enterprises are one of the
                       most important drivers of economic growth in developing countries.

7 Dec 2011 - r4          FINANCE ALLIANCE FOR SUSTAINABLE TRADE                                                      2
EC2                                    Building livelihoods through sustainable trade finance.

Head Office: Paris, France                Phone: +33-1-53-44-31-31

Type of Guarantee: Single Deal and Portfolio

Loans Amount:
Single Deal: $3.3 million
Portfolio: $7,000 to $210,000

Coverage: up to 50% (75% for MFIs)
Single Deal: 2 years (1 year for MFIs) up to 12 years
Portfolio: 1 to 5 years

Specific Requirements: Targets SMEs and MFIs. Banks must submit guarantee requests to AFD’s local
agency. The guarantees cover the principal plus outstanding interest at the rate of the loan at the date the
guarantee is called in, with a one year limit on interest. They include a guarantee request form and the
complete project document compiled by the bank for its decision-making process. The local agency processes
the guarantee requests. Depending on the degree of delegation, the decision is either taken at the local level
or at AFD headquarters on average within five business days on receipt of the complete application by the
a) Single Deal Guarantee: The purpose is to guarantee any type of equipment loan requested by (i) SME
start-ups, business development and transmission and (ii) MFIs. ARIZ charges an annual fee on the
outstanding principal amount guaranteed. The upper limit of the guarantee is 2 million euros (expressed
above in approx. $USD).
b) Portfolio Guarantee: The purpose is to guarantee a whole pre-defined target loan portfolio for SME start-
ups, business development and transmission. The time period allowed for building-up of the target portfolio is
2 years – renewable once. The amount of this guarantee is defined on the basis of the bank’s guarantee
requirements for the annual portfolio envisaged. The amount matches the outstanding amount to be
guaranteed for individualized loans allocated in local currency. The pricing scheme is selected by the partner
bank and is either:
i. an annual fee based on the guaranteed outstanding amount. It is assessed every six months during the first
two years, with payment at the expiry of this period of a discounted fee for the guaranteed residual
outstanding amount, or,
ii. a reduced fixed fee based on the amount of the portfolio guarantee envelope.
This is a new guarantee mechanism for banks with recognized expertise in credit analysis wanting to develop
their mesofinance activities and SME loan portfolio. The guarantee is formalized by an AFD guarantee
agreement. The decision-making and management for each guarantee allocated from the contractual ARIZ
envelope is delegated thanks to the trust relationship between AFD and the partner bank.

Sectors: various.

Countries served: Global with focus in Africa

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EC2                                  Building livelihoods through sustainable trade finance.
                                                                                             MIGA – Multilateral
                                                                                         Investment Guarantee
Head Office: Washington, DC.

Phone: 1-202-458-2538                                                             Email:

Type of Guarantee: Individual guarantees to protect against losses relating to currency transfer restrictions,
expropriation and war and civil disturbance. Only the Regular Guarantee Fund protects against breach of

Loans Amount:
     a) Regular Guarantee Fund: Up to $180M USD for a single project
     b) SIP Small Investment Program: Up to $10M USD

     a) Regular Guarantee Fund: Up to 95% of the principal (or higher as determined on a case-by-case
           basis), plus up to an additional 150 percent of the principal to cover interest that accrues over the term
           of the loan. Duration of 3 – 15 years, though sometimes up to 20.
     b) SIP Small Investment Program: Coverage percentage and duration are based on the review of the

Specific Requirements:
SIP Small Investment Program: MIGA is specifically designed to assist small and medium-size investors
with their foreign direct investment activities. For an investment to be eligible for MIGA coverage, the project
enterprise must fulfill two of the following three criteria: no more than 300 employees, total assets not more
than $15 million and/or total annual sales not more than $15 million. Although the total size of the investment
may be larger than $10 million, the application for investment guarantee must be less than US$10 million.

Sectors: various.

Services: MIGA guarantees also benefit investors and lenders by deterring harmful actions, resolving disputes,
accessing funding, lowering borrowing costs, increasing tenors, providing extensive country knowledge and
providing environmental and social expertise.

Countries served: Global.


Head Office: Paris, France                    Phone: +33-1-53-44-31-08

Type of Guarantee:
    i.     Bond guarantee – a guarantee to savers who extend a loan to a bank issuing borrowings to
           refinance itself or to a company seeking resources to invest in a specific project
   ii.     Bank loan guarantee – guarantees the successful completion of loans that banking institutions with

7 Dec 2011 - r4            FINANCE ALLIANCE FOR SUSTAINABLE TRADE                                                    2/11
EC2                                      Building livelihoods through sustainable trade finance.
           available liquidities may extend to other institutions to finance private sector companies
  iii.     Local currency loan guarantee – guarantees the successful completion of loans issued in local
           currency by banks to industrial and commercial companies to finance their manufacturing investment
  iv.      Liquidity guarantee of mutual funds, investment funds and local savings mobilization funds
           – a liquidity guarantee to the various instruments of mobilization of long-term resources intended to
           finance manufacturing investment, which has a direct impact on financial market intermediation

Loans Amount: 2.8 – 140 million

Coverage: 50%

Specific Requirements: The goal is to finance operations which are economically viable, socially equitable,
environmentally sustainable and financially profitable. PROPARCO focuses on job creation in Africa and climate
change and biodiversity in major emerging countries.

Sectors: various.

Services: Industries covered include plantations and primary agribusinesses, livestock farming and
seaproduct packaging, modernisation and expansion of heavy industries, transportation, education and health.

Countries served: Global; range from emerging markets to LDCs, particularly in Africa

                                                          USAID – United Stated Agency of
                                                                  International Development

Head Office: Washington, DC                     Phone: +1-202-712-4810

Type of Guarantee: Portfolio, Individual, and Portable Guarantees

Loan Amounts: Typically $5 to $10 million, however can range from $1 to over $40 million

Coverage: up to 50%, generally for 1 – 5 years

Specific Requirements: Guarantees are designed to correct market failures and should only be implemented
when it is determined a market imperfection exists, the loan would not have been granted without the
guarantee and that the guarantee will not provide incentives for moral hazard behavior. USAID hopes to
capitalize on the ―demonstration effect,‖ demonstrating the sustainability and profitability of development credit
to financial institutions which may consequently expand their services to underrepresented lenders, resulting in
self-sustained financing.

Sectors: Various.

Services: USAID’s guarantees are often complemented by technical assistance, partnering financial institutions
with potential borrowers and familiarizing them with the enabling environment. This promotes the expediency
of the project and the informational symmetry of the lender and borrower.

Countries Served: Global.

7 Dec 2011 - r4           FINANCE ALLIANCE FOR SUSTAINABLE TRADE                                                   3/11
EC2                                      Building livelihoods through sustainable trade finance.

Head Office: Nairobi, Kenya

Phone: +254-20-3750-627                        Email:

Loans Amount: Unspecified

Specific Requirements: The goal of the organization is to help small-scale farmers and their families lift
themselves out of poverty and hunger. AGRA programs develop practical solutions to significantly boost farm
productivity and incomes for the poor while safeguarding the environment. AGRA advocates for policies that
support its work across all key aspects of the African agricultural ―value chain‖—from seeds, soil health, and
water to markets and agricultural education.

Sectors: Agriculture

Countries served: Rural Africa.

Head Office: Cotonou, Benin                   Contact Person: Monsieur Libasse Samb

Phone: +229-21-30-03-76                       Email:;

Type of Guarantee: Individual

Loans Amount: CFAF 50 million (USD $ 120 million)

Coverage: up to 80% for up to 5 years

Specific Requirements: Guarantees favour long, medium and short-term loans, fund raising operations,
agricultural loans and inter-banking loans. Interest-rebate facility is limited to a maximum of one-third of the
interest rate applicable to the planned transaction. No project can benefit from an extension of credit facilities
duration for a period exceeding five years and involving an amount exceeding 25 % of the amount of the loan.
The beneficiaries can be public, semi-public institutions, individual or collectively owned. They are called
Promoters, and the guarantees are obtained through them. As a general rule the SMEs should provide some
form of collateral, if possible, and FAGACE will complement the guarantee. To apply, promoters submit
applications that are reviewed by the management committee and the internal guarantee committee.

Sectors: Industry, Agriculture, SME producing goods and services, agro-allied industry, telecommunications,

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EC2                                  Building livelihoods through sustainable trade finance.
transport, energy, commerce.

Countries served: Benin, Burkina Faso, Republic of Centrafrica, Cote d’Ivoire, Mali, Niger, Rwanda, Senegal,
Sierra Leone and Togo

                                                      FSA – Fonds de Solidarite Africain

Head Office: Niamey, Niger                    Contact Person: Monsieur Jean Berchmans Nkurunziza

Phone: +227-20-72-26-32                       Email:;

Type of Guarantee: unspecified

Loans Amount: FCFA 15 to 30 million (max approx. USD $43,000)

Coverage: 50% to 65% (private sector)

Specific Requirements: Supported industries include agriculture and agro-industry as well as the public
sectors of electricity, water, and social housing. The guarantee cannot exceed a total of 10 times the share of
resources. Likewise, no project can exceed more than 10% of this ceiling or in absolute terms, FCFA
2,000,000,000 except by approval of the Board. A guarantee fee ranging from 1% to 2.5% of the outstanding
guaranteed loan, is received by the FSA and payable quarterly. Requests to intervene must be submitted to
the FSA through: i) the investment locations’s state government, represented by the Minister of Finance or a
member of the FSA board, ii) a donor, iii) national or international Financial Institutions authorized by the
domestic monetary authorities of the project. Requests for assistance should include: the application specifying
the nature of the assistance sought, the feasibility of the project, a domestic industry survey, the financial
statements of the last three years, projected accounts related to the project, the financing plan for the project,
the legal dossier, the evaluation report of the funder and the agreement (or proposed agreement) loan for the

Sectors: unspecified

Countries served: Benin, Burundi, Centrafrique, Mali, Niger, Senegal, Togo, Tchad, Rwanda, Maurice, Gabon,
Cote d'Ivoire, Burkina


Head Office: Lome, Togo

Phone: +228-221-06-05                                      Email:

Type of Guarantee: Guarantee of medium and long-term loans and international banks and financial
institutions; guarantee of resource mobilization operations - operation developing establishments (banks,

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EC2                                  Building livelihoods through sustainable trade finance.
financial establishments, companies); counter-guarantee – national and international banks and financial

Loans Amount: minimum approx. $110,000

Coverage: up to 50% for up to 10 years

Specific Requirements: Guaranteed operations are start-up, modernization, privatization, transfer of
ownership, productivity improvement, production capacity building and restructuring. Supported industries
include manufacturing, public works, agro-industry, transport, fishing, tourism, mining, agriculture, productive
sector services. To be eligible, the loans guaranteed must reach a minimum amount equal to the counter value
of F CFA 50 millions. Finally, the cost of guarantees is to date made up of a fixed contribution collected upfront
and a guarantee commission calculated on the successive outstanding guarantees on semi-annual basis. As of
December 31st 2007, the Fund’s conditions for intervention in respect of bank borrowings corresponded to the
application of a contribution rate equal to 2% or 3% of the guarantee granted depending on whether the
beneficiary institution is a shareholder of GARI or not (or refinanced bya shareholder), and a single guarantee
commission rate of 1.5%.

Sectors: Sustainable certified production at the regional level in Central America.

Countries served: Bénin, Burkina Faso, Cap Vert, Côte d’Ivoire, Gambie, Ghana, Guinée, Guinée Bissau,
Liberia, Mali, Niger, Nigeria, Sénégal, Sierra Leone, Togo

                                                       Fondo de Garantia para Pequenos

Head Office: Santiago, Chile                  Contact Person: Mr. Oscar González Narbona

Phone: +56-970-5901

Type of Guarantee: direct to banks; transaction

Loan Amounts:
Micro and Small Enterprise: up to 5,000 UF (approx. USD $211,403.18)
Medium Enterprise: up to 15,000 UF (approx. USD $634,209.54)
Large Enterprise: up to 50,000 UF (approx. USD $2,114,031.88)
Exporters: up to 5,000 UF (approx. USD $211,403.18)

Micro and Small Enterprise: 80% Financing up to UF 3,000 (approx. USD $126,841.91); 50% financing above
Medium Enterprise: 50%
Large Enterprise: 30%
Exporters: 80%
*maximum term is 10 years

Specific Requirements: Targeted to small business (net sales max. of UF 25,000), business engaged in public
water provision and exporters active in the past two years with an average FOB of US $16.7 million.
Business classifications in terms of sales:
Micro enterprise: From UF 1 to UF 2,400 (approx. USD $42.28 to $101,473.52)
Small enterprise: From UF 2,401 to UF 25,000 (approx. USD $101,515.80 to $1,057,015.88)

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EC2                                    Building livelihoods through sustainable trade finance.
Medium enterprise: From UF 25,001 to UF 100,000 (approx. USD $1,057,058.16 to $4,228,063.52)
Exporters: From USD 1 to USD 16.7 million (average annual over last two calendar years)
Interest rates are subject to arrangements with the financial institution however the FOGAPE collateral taker
must pay a commission of use that can reach a maximum of 2% per annum of the guaranteed capital.

Sectors: Various.

Countries Served: Chile

                                                      Fondo Agropecuario de Garantias
                                                       (FAG) from Bano Agropecuaria
Head Office: Bogota, Colombia                    Phone: 01800 915000
Type of Guarantee: direct to banks; transaction; automatic and prequalification
Loan Amounts/Coverage:
Small Farmers: Automatic; up to 100% coverage for up to 15 SMLMV, up to 80% coverage for up to
$30,773,500; 1% commission
Collective Small Producers: up to 80% coverage; Automatic up to $30,773,500, prequalification for amounts
above $30,773,500; 1% commission
Median Producer: 2% commission
Automatic: up to 75% coverage for up to 350 SMLMV with 2.5% commission; up to 60% coverage for 350
SMLMV to 1,250 SMLMV
Prequalification: up to 60% coverage for appropriations higher than 1.250
Major Producer: coverage up to 50% with 3% interest; Automatic for up to 1,250 SMLMV; Prequalification for
appropriations higher than 1.250 SMLMV
Automatic: coverage up to 75% for credits up to 350 SMLMV with 2.5% commission; coverage up to 60%
for credits above 350 SMLMV and up to 1,250 SMLMV with 2.0% commission
Prequalification: coverage up to 60% for appropriations higher than 1.250 SMLMV with 2.0% commission
Low-Income Rural Women: Automatic coverage up to 90% with 1% commission
Sectors Served: small farmers, collective small producers, median producers, major producers, MSMEs and
low-income rural women as classified above
Country: Colombia

                                                             PROGAPE – Guarantee Program
                                                                               for Small Business
Head Office: San Salvador, El Salvador                      Phone: 2298-0953
Type of Guarantee: direct to banks; transaction
Loan amounts: max $57,143.01 for industrial entrepreneurs, and $80,000.00 for new public transport
Coverage: up to 70% of the amount of credit to entrepreneurs and mining and quarrying industry, and up
to 25% for public transport
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Term of one year, and may be renewed for equal periods, subject to timely payment of the relevant
Special Requirements:
Assets not exceeding $148,571.43; Annual sales not exceeding $685,714.29
The credit must be new, not refinanced. Preferably, the customer has its security interests in the same bank
or credit institution which is applying for new credit.
Commission of 1.5% to 2% on the amount guaranteed, payable annually in advance
The Guarantee Program for Small Business (PROGAPE) provides additional assurance to employers,
especially in capital appropriations for permanent or temporary work, buy or repair of machinery or
equipment, construction, repair or purchase of premises requiring activity company acquisition or
replacement of buses and minibuses, as well as studies for anyone, both, technical, graduate or higher,
either inside or outside the country.
Activities Served: reconversion of enterprises, machinery and equipment, improvement of facilities and
buildings, working capital and acquisition of domestic raw material which will be used in industrial activities
that developed in El Salvador, consolidation of debt provided that these have good credit record
Country: El Salvador

                                                                     Guarantee Special Program for
                                                                            Intensive Agriculture and
                                                                             Agribusiness (PROGAIN)
Head Office: San Salvador, El Salvador                            Phone: 2298-0953
Type of Guarantee: direct to banks; transaction
Loan amounts: from $57,143.01 to $1 million for food process industry and up to $4 million for other
agricultural sectors, livestock or agribusiness
Coverage: up to 50% valid for one year and may be renewed for equal periods, subject to timely payment
of the relevant committee
Special Requirements:
This program seeks to guarantee loans to establish intensive agricultural production centers and campuses in
preparation and processing of products or by at least 50% of total production.
Progain supports obtaining credit with which to finance the establishment and intensive agricultural
production projects and / or livestock or agricultural industry, and the import of raw materials for domestic
consumption, in the following destinations:
working capital
acquisition of machinery and equipment
purchase of raw materials
civil works necessary for the construction and operation of industrial campuses
construction of buildings and facilities
The commission will be paid annually in advance and the balance of 0.75% secured user and 0.75% Financial
Institution (IFI) participant.
The financial institutions Progain is working with are:
commercial banks
federation of credit funds
Agricultural Development Bank

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EC2                                        Building livelihoods through sustainable trade finance.
Sectors Served: horticulture, floriculture, fruit and ornamental, made under cover or in greenhouses and
food processing industry and raw material purchases domestic consumption (beans, corn, rice, wheat,
sesame, etc.)..
Country: El Salvador

                                                                     The Agricultural Assurance
                                                                             Program (PROGARA)

Head Office: San Salvador, El Salvador                       Phone: 2298-0953
Type of Guarantee: direct to banks; transaction
Loan Amounts / Coverage:
up to 70% for persons classified as small businesses of the loan amount
up to 50% for users who are large and medium-sized businesses
a) For users with credits under $ 342.857.15, coverage will be up to 50% of the loan amount.
b) For users with loans greater than or equal to $342.857.15, the maximum coverage is 50% or less and in a
second period will be up to 30%.
c) Coverage for agribusiness loans to coffee and sugar will be up to 30%, without exceeding the maximum
amount of $171,428.58 per user.
Special Requirements:
Covers small farmers whose assets do not exceed $114,285.71. The maximum credit amount will guarantee
up to $57,142.86.
The applicable warranty period is one year and renewed annually. Before, you must pay the annual fee for:
• Customers rated A: 1%
• Customers rated B: 1%
Sectors Served: small business owners or producers of the agricultural sector
• Loans for agricultural and agroindustrial activities short, medium and long term
• grubstake and investment credits
• Production of organic fertilizers
• Export activities, such as spices, honey, balsam, generally smaller species, ornamental plants, fruits and
• For agricultural science studies inside and outside the country
• Refinancing of debt when they were originally guaranteed by the PROGARA
• Any other destination related to agriculture such as fruit, vegetables and cereals
Country: El Salvador

                                                                                          Fondo de Garantia para
                                                                                           Pequenos Empresarios

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EC2                                   Building livelihoods through sustainable trade finance.
Head Office: Lima, Peru
Phone: +511-700-0100                                                                      Email:
Type of Guarantee: direct and portfolio
Loan amounts: max approx. $117,450
Coverage: Up to 50% for one year before reassessment
Special Requirements: Sales limit of approx. $302,000
Sectors Served: SMEs
Country: Peru

                                                                     Asuransi Ekspor Indonesia
Head Office: Jakarta, Indonesia
Phone: +62-21-5790-3535                                      Email:
Type of Guarantee: credit insurance and credit guarantee
Loan amounts: unspecified
Coverage: Insurance coverage from 70% to 100% from non-cash loan approved by bank; Collateral
requirement is less (i.e. cash collateral from 10% to 30%, plus fixed asset or stock fiduciary).
Working Capital Credit:
length of coverage is as approved in Credit Terms of Period from the Bank, OR a maximum of 12 months
ASEI assumes 70% of the risk while the Bank assumes 30%
Trade Finance Insurance:
ASEI assumes 80% of the risk while the Bank assumes 30%
Special Requirements:
Claim submission could be immediately processed after the credit's status is default
The insurer will process the claim submission from the insured (bank) at the latest in 30 (thirty) days, AND
will disburse the claim amount at the latest in 14 (fourteen) days since the date of Claim Payment
Working Capital Credit:
The premium for this coverage is 1,50% to 2,00 p.a plus fixed fees
Trade Finance Insurance:
The premium for this cover is 0.35% for the first three months and 0.1% for the next every one month
Export Credit Insurance:
ASEI will indemnify a maximum of 85% of the loss, while the remaining 15% will be borne by the exporters
Sectors Served: non-oil and gas exports
Country: Indonesia

                                                                                         PT Askrindo

Head Office: Jakarta, Indonesia                              Phone: 021-6546471
Type of Guarantee: Credit Guarantee and Trade Credit Insurance for imports, exports and domestic
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EC2                                   Building livelihoods through sustainable trade finance.
Loan amounts: approx. $5,040 – approx. $50,400
Coverage: Credit Guarantee: 20% to 70%; Trade Credit Insurance: 60% to 90%
Duration of 6 months to 13 years
Special Requirements: 0.5% administrative fee to screen application and 1.5% fee of credit
Sectors Served: MSMEs
Country: Indonesia

                                                      PT PKPI
Head Office: Jakarta, Indonesia                               Contact: Krisnaraga Syarfuan
Phone: +62-21-5210263                                         Email:
Type of Guarantee: Credit/financing from the bank or financial institution; Leasing, factoring, consumer
financing and financing with profit sharing; hire purchase.
Loan amounts: max $100,000
Coverage: up to 75%
Specific Requirements:
SMEs must have been operating for at least two years. The guarantee fee is 1 % - 2 % p.a. and should be
paid by the customer.
Procedure: The SME submits a credit application to the financial institution (FI). After the FI analyses the
application, if feasible but not bankable (short of collateral), the FI applies to the PKPI guarantee with
necessary information and documents. If the application is eligible for PKPI’s guarantee, PKPI will issue the
Guarantee Certificate to the FI after receiving the guarantee fee. Then, the FI will disburse the loan. The
supervising of the credit will be done by PKPI and the FI. In case that the SME defaults and the FI has made
an effort in enforcing the repayment, the FI can submit a claim application to PKPI. PKPI will pay claim to the
FI on the amount of the guarantee portion and PKPI will have the right of subrogation to the SMEs.
Sectors Served: SMEs
Country: Indonesia

7 Dec 2011 - r4          FINANCE ALLIANCE FOR SUSTAINABLE TRADE                                                 11/11
EC2                                    Building livelihoods through sustainable trade finance.

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