The Philippine Guarantee Corporation (PHILGUARANTEE) is the Philippine export credit agency providing trade finance. It is setup as a government-owned and controlled corporation attached to the Department of Finance. Formerly known as the Philippine Export–Import Credit Agency (PhilEXIM), it is the principal agency for state guarantee finance of the Philippines. The primary objective is to perform development financing roles through the provision of credit guarantees in support of trade and investments, exports, infrastructure, energy, tourism, agricultural business, modernization, housing, micro-enterprises, small and medium-sized enterprises and other priority sectors of the economy, with the end in view of facilitating and promoting socio-economic and regional development.[4]
The corporation is the result of the merger and consolidation of five Philippine Guarantee programs and agencies pursuant to Executive Order No. 58, series of 2018.[1]
History
The organization was originally created by Presidential Decree 1080 on January 31, 1977,[5]