Section 13Sec./Art. 13

Export Financing, Guarantee and Insurance. - Pursuant to Section 7(l) of this Act, the Council shall make the necessary legal and feasibility study/recommendation on the alignment and rationalization of government programs relative to export financing and existing organizations dealing primarily or exclusively with export financing, guarantee and insurance, likewise considering the creation of a private sector-led export financing institution whose services shall be primarily devoted towards supporting the operations of exporters and indirect exporters, particularly the SMEs.

The study shall include the powers, functions, and operations of the proposed institution, and government equity contributions to this said institution, and if and when necessary, the preparation of a bill creating the same which the Council will recommend to Congress within six (6) months after the effectivity of this Act.

The government counterpart funds shall come from direct budgetary appropriations, from consolidated capital funds of government institutions involved in export financing and guarantees, or from equity contributions from government finance institutions.