The Banco Português de Fomento (BPF) announced the launch of "Fomento Trade", starting Tuesday, a new public instrument to support Portuguese exporting companies aimed at promoting internationalization and competitiveness in external markets. The instrument will be operated by BPF, integrated within the BPF Group and acts on behalf of the Portuguese State, providing short-term export credit insurance solutions and guarantees for medium and long-term international operations.
Among the main advantages, the program offers coverage up to 90% of the insured value in short-term operations, Portuguese State Guarantee, protection against commercial, political and catastrophic risks, and facilitation of access to bank financing. It also includes surety solutions for international contracts that avoid the consumption of banking limits, the constitution of collateral or the immobilization of funds.
Regarding short-term export credit insurance, these are intended for operations with a credit term of up to two years and will be distributed by private credit insurers in Portugal. The guarantees for medium and long-term operations, applied to terms exceeding two years, include four types: export credit guarantee, surety for international contracts, guarantee for Portuguese investment abroad and guarantee for importer financing.
The CEO of BPF, Gonçalo Regalado, highlighted that the initiative aims to give Portuguese companies "confidence and security to take the next step" and compete in any market. The Coordinating Director of "Fomento Trade", Maria José Melo, stated that the program will make a difference by mitigating risks, protecting exports and facilitating access to credit, allowing companies to focus on production, innovation and sales.
