The Ministry of Foreign Affairs draft law on the transformation of the Export Credit Insurance Organization (OAEP) into the Hellenic Export Credit Company (limited liability company) was debated today, Wednesday, March 23, 2022, in the Parliamentary Standing Committee on National Defence and Foreign Affairs.
Export Credit Organizations provide financing and insurance to facilitate domestic companies so as to operate in international markets.
Deputy Minister of Foreign Affairs for Economic Diplomacy and Openness, Kostas Fragogiannis pointed out in his speech that this draft law constitutes another reform initiative aimed at strengthening the extroversion and competitiveness of the Greek economy, since OAEP is the only European relative organization which has not been reformed in the last 20 years and has key shortcomings in meeting the requirements of Greek exporters.
The draft law for the modernization of OAEP is expected to be introduced in the Plenary Session of the Parliament for a vote within the next two weeks.
