The Portuguese Development Bank (BPF) announced on September 1 the launch of Fomento Trade, a new Portuguese Export Credit Agency integrated within the BPF Group, which will provide credit insurance and guarantee solutions with the Portuguese State Guarantee to support the internationalization of Portuguese companies, particularly exporters, in international markets.
The new agency will operate in two main areas: Short-Term Export Credit Insurance, for operations with terms of up to two years, distributed through private credit insurers in Portugal under BPF management; and Guarantees for Medium and Long-Term International Operations, which includes instruments such as Export Credit Guarantees, Sureties for International Contracts, Guarantees for Portuguese Investment Abroad, and Guarantees for Importer Financing.
The solutions from Fomento Trade allow coverage of up to 90% of the insured value in short-term operations, offering protection against commercial, political, and catastrophic risks, facilitating access to bank financing, and enabling the release of banking capacity through instruments that avoid consuming banking limits.
The CEO of BPF, Gonçalo Regalado, stated that Fomento Trade aims to give Portuguese companies confidence and security to compete in global markets, while Chief Commercial Officer Luís Guimarães highlighted the strengthening of the bank's role as a public instrument supporting internationalization. The coordination director of Fomento Trade, Maria José Melo, explained that the instruments allow for mitigating risks, protecting exports, and facilitating access to credit, enabling companies to negotiate with more confidence and present more competitive proposals.
