Coface continues its work with the government to support French exporters
Credit insurance plays an essential economic role by protecting companies, particularly SMEs and mid-cap companies, against the risk of defaulting customers anywhere in the world. Since the beginning of the COVID-19 health crisis, the objective of the CAP Francexport scheme has been to enable French companies to secure their international trade in a context where the financial situation of buyers may be damaged or unstable. Exporting companies can thus benefit from additional guarantees on a list of defined countries, in case the guarantees offered by their credit insurers are not sufficient to meet their coverage needs.
CAP Francexport was launched with the French government in March 2020, and then reinforced in January 2021 with a decrease of premiums and a broadening of the eligibility criteria. It will be available at least until March 31, 2022 and Coface is committed to continuing the distribution of this solution to its clients.
Antonio Marchitelli, CEO of Coface France and Western Europe said: "While international trade has experienced a strong recovery, significant uncertainties and risks remain. This agreement between the French State and credit insurers, including Coface, will enable us to continue our determined actions to support the activity of French exporting companies. Coface's teams remain fully mobilized to support clients who wish to maintain or develop their international trade flows.”
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