Philippine Export-Import Credit Agency
Encyclopedia
The Philippine Export-Import Credit Agency, also known as PhilEXIM, is an organization in the Philippines
connected to the Department of Finance
. Formed by presidential decree on January 31, 1977 under the title Philippine Export and Foreign Loan Guarantee Corporation, the organization has been retitled several times since as its area of operation is modified. The organization's current mission is to facilitate international trade
by offering financial or other assistance to Philippine enterprise, particularly small
or medium sized companies. It also facilitates governmental projects that may encourage international trade.
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
connected to the Department of Finance
Department of Finance (Philippines)
The Philippines' Department of Finance is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local...
. Formed by presidential decree on January 31, 1977 under the title Philippine Export and Foreign Loan Guarantee Corporation, the organization has been retitled several times since as its area of operation is modified. The organization's current mission is to facilitate international trade
International trade
International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product...
by offering financial or other assistance to Philippine enterprise, particularly small
Small business
A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships...
or medium sized companies. It also facilitates governmental projects that may encourage international trade.
History
The Organization was originally created by Presidential Decree (PD 1080) on January 31, 1977 under the name Philippine Export and Foreign Loan Guarantee Corporation (PHILGUARANTEE). On February 12, 1998, its area of operation was expanded and its name accordingly changed to Trade and Investment Development Corporation of the Philippines (TIDCORP) by Republic Act No. 8494. It was re-titled again through an Executive Order (EO 185) on March 18, 2002 to its current name.External links
- PHILEXIM website
- Presidential Decree No. 1080 (Republic of the Philippines)
- Republic Act No. 8494 (Republic of the Philippines)