Institutional development

Iga was established in October, 1996 as a State Agency with a goal of implementing the World Bank’s project for urgent initiation of industry, alongside issuing guarantees from political and war risk to foreign investors and traders. Taking into account that during the project not one insured risk occurred, credit funds from the World Bank that were coverage for guarantees were freed up and had become available for support of export companies.

During 1999 IGA has began implementation of the World Bank’s second project which is geared towards support of export companies in BiH. Available credit funds are provided to export companies through financing exporting preparation, securing guarantees for agreed upon transactions abroad, as well as capital for insuring export and import.

Considering that demand of export companies is becoming greater, IGA besides the World Bank’s funds is securing funds from other sources, such as local and foreign banks, Lloyd’s and other European reinsurers.

In 2004, the BiH Parliament enacted a Law on the Export Credit Agency of Bosnia and Herzegovina and with that affirmed IGA’s continuation of work as a State Export Credit Agency with a founding capital of 52 million KM. IGA operates as an independent, non-deposit and non-profit legal entity in accordance to principals on liquidity and insuring business without losses.

Today IGA is a full-fledged member of the Prague Club and the Association of Export Credit Agencies which is governed by the Berne Union. However, the most important thing is that Iga has become a reliable partner and a supporter of our most successful companies.