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EFIC meaning in Business ? |
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Answer» What is Export Finance and Insurance Corporation mean? Export Finance Australia, previously known as the Export Finance and Insurance Corporation (EFIC), is Australia’s export credit agency and has carried out its role within various statutory frameworks since 1957. Export Finance Australia was established in its current form on 1 November 1991 under the Export Finance and Insurance Corporation Act 1991 (Cth) (the EFIC Act) as a statutory corporation wholly owned by the Commonwealth of Australia. Export Finance Australia reports to Australia's Minister for Trade, Tourism and Investment. Export Finance Australia is part of the Department of Foreign Affairs and Trade. In April 2020, during the COVID-19 pandemic in Australia, the Morrison Government announced that Export Finance Australia would administer a $500-million credit facility for small and medium exporters, the COVID-19 Export Capital Facility available until April 8th 2021. reference
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