Philippine Export-Import Credit Agency

 

Name Philippine Export-Import Credit Agency 
 
President and CEO Atty. Florencio P. Gabriel, Jr.
Established In January 31, 1977 by virtue of Presidential Decree No. 1080; renamed as TIDCORP by virtue of Republic Act No. 8494 on February 12, 1998, as amended; designated as PhilEXIM by virtue of Executive Order No. 85 on March 18, 2002
Head Office 17th Floor Citibank Tower, Citibank Plaza, Valero Street, 1226 Makati City, Philippines
Domestic Offices Rm. 605, Keppel Center, Cebu Business Center, Cebu City
Website www.philexim.gov.ph

 

In 1977, the Philippine Export-Import Credit Agency (PhilEXIM), also known as the Trade and Investment Development Corporation of the Philippines (TIDCORP), was established by virtue of Presidential Decree No. 1080, as amended. Being a government corporate entity attached to the Department of Finance, the primordial role of PhilEXIM is to address vital economic and development-related policies of the State, with the end in view of contributing towards a rising level of production and employment in the country:

 

  1. Development of exports and export-related industries contributory to the expansion of international trade;
  2. Economic support for development projects of fledging industries engaged in the manufacturing of capital goods, those registered with the Board of Investments, public utilities and those industries encouraged by government policy; and
  3. Generate foreign and domestic loans for development purposes, thereby creating a macro-economic environment conducive for sustainable private sector investments.

 

In recent history, the President of the Philippines through Executive Order No. 85, s. 2002, recognized the significant need to raise the bar of Philippine competitiveness in exports by designating a stateowned enterprise to represent the country as its official export-import credit institution, hence, the designation of the Agency as the exportimport credit institution of the country.

 

Thirty-seven (37) years since its inception, PhilEXIM continues to be a vital cog in the foregoing goals of Philippine development, as it persists to be among the growth challenges of the country to date, government after government. The agency’s mandate of financial intermediation has, in fact, grown much more relevant in terms of economic merit, given today’s shifting economic landscape, risk appetite in business and the prevailing financial and market volatility.As the Philippines relies on its fundamental growth resources – economic corridors that are propelled by enterprises and entities. These key corridors – small and medium enterprises, manufacturing, industry and services – continue to require development assistance. On the other hand, the banking sector is a regulated domain where financing, while made available, remains highly inaccessible by small and medium-scale enterprises and to a certain extent, even large projects with economic potential but inherently risky.

 

By the strength of the economic provisions of its enabling law, P.D. 1080 as amended by R.A. 8494, PhilEXIM enables Philippine industries and contributes to shareholder value by means of:

  1. Dispensing capital through its business model of leveraging;
  2. Mobilizing investments from the private sector;
  3. Complementing the bank’s funding mechanism;
  4. Operating sustainably without government subsidy; and
  5. Executing and realizing a viable and revenue-generating enterprise.

 

The powers and functions of the Corporation are exercised by the Governing Board composed of nine members, namely: the Department of Finance (DOF) as Chairman; the President of PhilEXIM as Vice Chairman; the ex-officio members are the Central Bank of the Philippines, National Economic Development Authority (NEDA), Department of Trade and Industry (DTI), and the Philippine Overseas Construction Board (POCB). Also comprising the Board are three private sector directors, one of which represents the export sector.

 

PHILIPPINE EXPORT-IMPORT CREDIT AGENCY

(Trade and Investment Development Corporation of the Philippines)

17th floor, Citibank Tower

Valero Street, Makati City

Philippines 1226

Phone : (+632) 885-4700

Fax : (+632) 848-1925

Email : iabriones@philexim.gov.ph

Website : www.philexim.gov.ph