The Philippine Guarantee Corporation (PHILGUARANTEE) is a

Government-owned and controlled corporation In the Philippines, a government-owned and controlled corporation (GOCC), sometimes with an "and/or", is a state-owned enterprise that conducts both commercial and non-commercial activity. Examples of the latter would be the Government Service In ...

attached to the Department of Finance. Formerly known as the Philippine Export-Import Credit Agency or PhilEXIM, is the principal agency for State Guarantee Finance of the

Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

. The primary objective is to perform development financing roles through the provision of credit

guarantee Guarantee is a legal term more comprehensive and of higher import than either warranty or "security". It most commonly designates a private transaction by means of which one person, to obtain some trust, confidence or credit for another, engages ...

s in support of trade and investments, exports, infrastructure, energy, tourism,

agricultural business Agribusiness is the industry, enterprises, and the field of study of value chains in agriculture and in the bio-economy, in which case it is also called bio-business or bio-enterprise. The primary goal of agribusiness is to maximize profit w ...

, modernization, housing, MSMEs (

Micro Micro may refer to: Measurement * micro- (μ), a metric prefix denoting a factor of 10−6 Places * Micro, North Carolina, town in U.S. People * DJ Micro, (born Michael Marsicano) an American trance DJ and producer *Chii Tomiya (都宮ちい ...

Small and Medium Enterprises Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank ...

) and other priority sectors of the economy, with the end in view of facilitating and promoting socio-economic and

regional development Regional development is a broad term but can be seen as a general effort to reduce regional disparities by supporting (employ) economin regions. In the past, regional development policy tended to try to achieve these objectives by means developmen ...

. PHILGUARANTEE is the result of the merger and consolidation of five Philippine Guarantee Programs and Agencies (PGPAs) pursuant to Executive Order No. 58, series of 2018.

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) to provide guarantees and facilitate the entry of foreign loans for development projects. 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 This article contains a partial list of Philippine laws. Sources of Philippine laws ;Notes : *Customs may be considered as supplementary source of law, however, customs which are contrary to law, public order or public policy shall not be ...

No. 8494. It was re-titled again through an Executive Order (EO 85) on March 18, 2002, to Philippine Export-Import Credit Agency (PhilEXIM). On July 23, 2018, President Duterte approved the merger of the Home Guaranty Corporation and the Philippine Export-Import Credit Agency (PhilEXIM) to prevent operational redundancies, standardize policies, facilitate timely approvals, and lower administrative costs. The order transferred the guarantee functions, programs, and funds of the Small Business Corporation and the administration of the Agricultural Guarantee Fund Pool and the Industrial Guarantee and Loan Fund to the PhilExim, the surviving entity in the

amalgamation Amalgamation is the process of combining or uniting multiple entities into one form. Amalgamation, amalgam, and other derivatives may refer to: Mathematics and science * Amalgam (chemistry), the combination of mercury with another metal **Pan am ...

of the five Philippine Guarantee Programs and Agencies (PGPAs). It also authorized capital stock of the PhilExim to be increased from Php10 billion to Php50 billion while the equity contributions of the national government to the HGC, IGLF, and AGFP will be transferred to the PhilExim to form part of its paid-up capital. To reflect the centralized nature of the merged guarantee functions, the PhilEXIM was renamed as Philippine Guarantee Corporation or PHILGUARANTEE.

References

{{authority control Department of Finance (Philippines) Government-owned and controlled corporations of the Philippines Export credit agencies Foreign trade of the Philippines