the foreign trade risk insurance company has approved insurance for transactions amounting to $ 3.7 billion

Ashra, the foreign trade risk insurance company, has approved in principle to insure credit to Israeli exporters in transactions amounting to $ 3.7 billion. This is from the outbreak of the corona crisis in early 2020 to mid-2021. Credit insurance is backed by a state guarantee provided by the Accountant General in the Ministry of Finance, and most applications for approvals in principle are approved by a committee headed by the Accountant General.
 Ashra works to promote the volume of Israeli exports by providing credit insurance services and providing credit to finance large export transactions of Israeli companies, mainly with foreign countries, and for relatively long periods of up to 15 years. Credit insurance protects the exporter or the bank giving the credit from non-payment from the customer as a result of financial difficulties or a political event. In addition, credit credit insurance allows banks to provide a line of credit for transactions when the insurance policy, backed by the state guarantee provided by the Accountant General, is secure for financing and allows the exporter to receive the payment in advance.
The summary of the data shows that from the beginning of 2020 until the middle of 2021, the company approved in principle the approval of about 50 large export transactions totaling about $ 3.7 billion. Most of them in the fields of security, media, education and agriculture.
Ashra says that the scope of the approvals is intended to help Israeli exporters deal with the consequences of the corona crisis and with the aim of assisting business activity in the economy.