Governments have flexibility in the design of their Export Credit Agencies (ECAs). As experts in ECAs around the world, Momentus (formerly IFCL) was engaged to support New Zealand as it reimagined its export credit system.
Having privatized its ECAs in the early 1980s, a few decades later New Zealand sought to reintroduce government-backed facilities to address market gaps faced by NZ exporters when competing abroad.
The underwriting expertise for foreign buyers and borrowers, especially for medium and long-term credit, no longer existed within the NZ system. To address this, we developed an innovative business model that relied on the Government of New Zealand’s risk capital, but used the expertise and services of international credit insurers, until the Export Credit Office was ready to bring this skill in-house.
Our unique solution enabled New Zealand to gradually re-enter the export credit business. Now, two decades later, NZ Export Credit is a vibrant, successful, and internationally-recognized ECA.
