Country Limitation Schedule

General Conditions​

Exceptions to any condition or limitation contained herein must be obtained in writing from Keren Finance.

Keren Finance reserves the right to set additional conditions for any particular buyer or issuing bank including the right to set a different percentage of coverage. Keren Finance also reserves the right to reject any particular application.

The sector where the risk lies (public or private) and the country of the obligor, or guarantor if there is one, will generally be used for determining appropriate country limitations and fees.

Cuprus

Georgia

Germany

Ghana

Israel

Kazakhstan

Macau

Mauritania

Mauritius

Moldova

    Morocco

Oman

Romania

Ukraine

Uzbekistan

The following insurance policies are affected by this  schedule. Please note that Short-Term Insurance Policies are governed by the columns titled “Up to one year”:

Short-Term Insurance Policies: EBD, ELC, ENB, ENV, ESC, ESM(ST), ESS, ETM(ST), EUS, FB, FB-E, FV, ESP, ESSP, FP, MCP(ST).

Medium-Term: All medium-term and lease-policy types, ESM, ETM, MCP, MRP, MSC, MSC-E, MTR, MTR-E.

EXIM Bank – INFORMATION SUPPLEMENT ON MEDIUM- AND LONG-TERM PROGRAMS

“Open for Cover” versus “Off-Cover.” The attached Country Limitation Schedule indicates where EXIM Bank is “open for cover” and where EXIM Bank is “off-cover.” The Schedule is organized along three dimensions: the country where the risk lies, sector (public sector or private sector), and term of total exposure (including both disbursement period and repayment term). EXIM Bank defines “public sector” as including those obligors or guarantors which are at least 50% owned, directly or indirectly, by the government. Where the CLS presents an X mark, EXIM Bank is “off-cover,” and is therefore not willing to consider approval of routine transactions. These “off-cover” determinations are due to economic and/or political risks associated with the country.

Where EXIM Bank is Open for Cover. The “open for cover” designation refers to the possibility, rather than the certainty, of EXIM Bank support in particular cases. Proposed obligors, guarantors, and transaction structures under medium- and long-term programs are all subject to case-by-case EXIM Bank approval. Approval depends on the case-by-case application of EXIM Bank policies, particularly the EXIM Bank’s determination of reasonable assurance of repayment. The following paragraphs provide very general guidance to the application of policies in markets where EXIM Bank is on-cover.