Authorizations and country export data

• Exporter’s credit insurance: Insures Kazakh exporters against the risk of loss associated with payment default by foreign buyers
• Eligibility: Kazakh exporters of non-primary goods, works, and services
• Insurance coverage:
• Political risks: Up to 80% of the amount of loss incurred
• Commercial risks: Up to 80% of the amount of loss incurred
• Other supplier credit products: Working capital
• Pre-export financing
• Advance payment insurance
• Loan insurance
• Civil liability insurance

• The program stimulates demand for domestic products from foreign buyers by providing indirect cover to second-tier banks of Kazakhstan who in turn are providing issuing bank letter of credits to the Kazakh exporters
• Cover: Up to 100% of the risk of default on obligations by the issuing banks for commercial and political risks
• Insurance premium: Determined by evaluating country risk and the credit quality of the issuing bank letter of credit
• For the issuing bank, the program provides:
• Financing under contracts for the supply of a non-primary product/service of Kazakh origin
• Rate for financing: CIRR + 2% per annum
• Financing period: Up to 1 year
• Maximum size of one deposit (placed for each received package of shipping documents): KZT 150 million or equivalent amount in foreign currency
• Other bank products with similar cover include:
• Trade financing
• Insurance of documentary credits
• Bank payment guarantees insurance
• Bank counter-guarantees insurance
• Reinsurance in the general insurance sector
• Insurance of exporter's legal liability on forward currency transactions

• Protects the domestic investor against the risks of a political nature for direct foreign investment
• Eligible investment assets:
• Securities
• Property rights for licensing and international leasing
• Loans, credits, and other types of borrowed money
• The geography of insurance coverage is not limited
• Risks covered: Political risks up to 90% of the amount of loss incurred

• Local content eligibility determined according to “single methodology for calculating the local content in the procurement of goods, works, and services by the companies” approved by the Government of the Republic of Kazakhstan No. 964, as of September 20, 2010

• Although not an OECD member country, KazakhExport follows OECD country risk assessment ratings for long-term ratings

• Certain countries are assigned risk ratings that differ from OECD consensus for short-term and investments cover; these countries are listed on the website

• Premium cost ranges from 0.5% to 7.0% depending on the transaction risk rating and assessment

• Timing for application submission depends upon insurance product type as follows:
• Insurance of credits to importer or exporter : Application must be submitted before provision of services, execution of work, or delivery of goods
• Insurance of pre-shipment risks: Application must be submitted before delivery of goods
• Insurance of commodity loans and/or factoring transactions: Application must be submitted before provision of services, execution of work, or delivery of goods

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