Sri Lanka Export Credit Insurance Corporation (SLECIC) is in talks with a Russian bank, to promote financing of Russian importers of local goods.
The company has identified importers of goods from Sri Lanka as an opportunity segment and has started off in that direction with a Russian bank to finance importers of Sri Lankan products to Russia. rn
rnAs part of a revamped business strategy, SLECIC hopes to move on to becoming a guarantor of exports of Sri Lankan goods to the global market.rn
rnThe company is also trying to obtain funding from international funding agencies to refinance capital equipment borrowings of exporters.rn
rnCurrently the high cost of credit from lending organisations for capital equipment tends to make local exports uncompetitive.rn
rnThe company also recently revamped its current product portfolio, reducing premiums and expanding coverage of some of its key products.rn
rnIts core product, the Export Payment Insurance policy was given a new lease of life.rn