Export Finance Australia (EFA) supports export, trade and overseas infrastructure development that benefits Australia.
Types of finance
EFA provides loans, bonds, guarantees and insurance.
The support is delivered under one of the following accounts:
- Commercial Account – where EFA carries all risks, retains all margins and fees, and bears all losses.
- National Interest Account - where the responsible minister can direct EFA to support transactions that are in the national interest.
Background
The agency was established on 1 November 1991 under the Export Finance and Insurance Corporation Act 1991.
It operates as a corporate Commonwealth entity and specialist direct investment vehicle.
The Act sets out its functions and duties.
Governance
The Minister for Trade and Tourism is responsible for EFA. The Minister for Finance is consulted on key governance and commercial matters.
It is governed by a board. Read more on the EFA website.
Statement of expectations
The Trade and Tourism Minister provides guidance on how the agency should operate through a statement of expectations (SoE). EFA responds with a statement of intent (SoI).
The current SoE and SoI were released in November 2021.
The SoE includes expectations that EFA will:
- encourage Australian export trade by providing insurance, financial services and products to people directly or indirectly involved in such trade
- provide finance for overseas infrastructure development
- encourage Australian banks and financial institutions to finance or support export and infrastructure deals
- manage payments for overseas aid projects funded by the Commonwealth
- assist Commonwealth entities with financial arrangements and agreements
- provide advice on finance and insurance for exporters.
Read the SoE and SoI on the EFA website.
More information
Read more about the agency and funding opportunities on the EFA website.
For questions about policy matters, contact the Department of Foreign Affairs and Trade.
