The Export Credit Insurance Corporation of South Africa (ECIC) was established in July 2001, with a mandate to fulfil a market gap through the provision of medium to long-term export credit and investment guarantees. The company underwrites bank loans through provision of political and commercial risk insurance cover, on behalf of the South African government. Acting as a catalyst for private investment, the ECIC steps in where commercial lenders are either unwilling to or unable to accept long term riskss.