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Bank of Wesley & Export Finance Board
|Bank of Wesley and Export Finance Board|
Logo used by the government
|Established||1st April, 2016|
|Nicknames||Export Finance Board|
|Run directly by Ofie derinvart hSkovagee|
|Part Alleigance||Nuetral, but with links to Wesleyists|
The Bank of Wesley & Export Finance Board is the body of the Skovajan Government deisgned to laise with the Bank of Wesley, formally the Governor and Company of the Bank of Wesley, the central bank of Skovaji - as the bank is owned privately by stockholders (inluding the Skovajan Government), it is only partially answerable to the government, although through the board it acts as though it were a nationalised endeavour. The board is also responsible for benefiting the Skovaji economy by helping exporters of Skovajan goods and services to win business, and Skovaji firms to invest overseas, by providing guarantees, insurance and reinsurance against loss, taking into account the Skovajan Government’s wider international policy agenda.
The Export Finance Board provides a variety of loan, guarantee, and insurance products intended to aid the export of Skovajan goods and services. The mission of the Board is to create and sustain Skovajan jobs by financing sales of Skovajan exports to international buyers. The Board is chartered as a government ministry by the Seanad derinvart hSkovagee; it was last chartered for a five-year term in 2016. The Charter spells out the Board's authorities and limitations. Among them is the principle that the Board does not compete with private sector lenders, but rather provides financing for transactions that would otherwise not take place because commercial lenders are either unable or unwilling to accept the political or commercial risk inherent in the deal.
The Board's products aim to support export sales for any Skovajan export firm regardless of size. The board's charter provides that the Board makes available "not less than 20%" of its lending capacity to small businesses.
The Board also works to make Skovaji an attractive investemnt climate for other businesses to move to. This includes, amoung general work such as marketing and removing/adding regulation, working with the Bank of Wesley and the rest of the government to improve the quality of Skovaji's financial and economic framework, such as fudning the Skovaji Stock Exchange, and working to increase the power of the Skovajan economy.
Bank of Wesley
The Board is responsible for managing communications betwen the government and its central bank, the Bank of Wesley. Through the Board, the bank has power over the issue of banknotes, lending at last resort and managing the national debt.