ECGC to launch factoring service

CALCUTTA, July 16: Export Credit Guarantee Corporation (ECGC), the country’s sole export credit insurer, will soon launch factoring and forfaiting services in line with a corporate revamp plan. This was decided at a high-level meeting at Mumbai recently, at which consultancy major Coopers & Lybrand presented its outline on a complete revamp of ECGC.

The meeting, which discussed the visioning module done by Coopers, also considered the introduction of diversified services like information selling and consulting and advisory services. To improve risk assessments, ECGC has decided to upgrade its country rating system.