The Export Import Bank of Trinidad and Tobago Limited (EXIMBANK) remains the only official Export Credit Agency (ECA) in the country. It has emerged out of what was formerly the Trinidad and Tobago Export Credit Insurance Company Limited (EXCICO), which was established in 1973 by the Government to promote the export of goods and services. This allows regional buyers access to a wide range of manufactured goods on credit terms.
EXCICO was converted to EXIMBANK following an Order by the Minister of Finance on November 4th 1997, cited as Financial Institution (Amendment to the Third Schedule) Order 1997. This Amendment to the FIA allows EXIMBANK to conduct the business of a Confirming House, Acceptance House, Finance House or Finance Company ... (and) ...Financial Services.
EXIMBANK's operations are funded principally by its own financial resources accumulated from profitable trading operations over the years and by various lines of credit provided by major financial institutions. Institutional support is also provided by a Guarantee from the Government of Trinidad and Tobago under the Guarantee of Loans (Companies) Act in respect of the settlement of all claims due and payable by EXIMBANK. EXIMBANK remains a profitable, well managed, state owned financial institution working with local and regional financial institutions and pursuing a business philosophy of promoting selective and controlled expansion of the export sector.
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