The Georgian government is planning to set up an export credit agency (ECA) and has awarded Sace with an advisory contract to assist in the launch.

The new ECA will be managed by the Partnership Fund, a government-owned investment fund created in 2011 to provide financial support for high-priority projects in sectors such as energy, agribusiness, manufacturing, infrastructure, logistics, tourism and real estate.

Sace’s role is to provide advisory services and technical training on products, processes, management and risk assessment.

“The purpose is to transfer to the newly-formed agency the necessary instruments and know-how in order to become operational and subsequently support Georgian companies in their development of export-growth programmes,” says a statement issued by the Italian agency.

“Sace has supported the establishment and development of several ECAs and other financial institutions in various emerging markets such as the Middle East, North Africa, Eastern Europe and Asia,” reads the statement, adding that new initiatives are currently under way for new geographies, including Sub-Saharan Africa.