Local Currency Financing Scheme
ECGD has supported business involving local currencies, including Hong Kong Dollars, Singapore Dollars and Malaysian Ringgits. ECGD is, in principle, prepared to consider requests for local currency financing where the local currency is convertible, the arrangement is acceptable to the Ministry of Finance and Central Bank of the country concerned and there is sufficient depth and capacity in the local financial markets to raise the requisite finance.
Where there is a possibility of local currency financing being required, the exporter should approach ECGD at the earliest opportunity, since it could take some time to investigate and consider the ability to support the business in question in the currency required.
