80 years of public export guarantees: a strategic tool of the State serving French businesses

 

To mark the 80th anniversary of public export guarantees, the Ministry of Economy, Finance and Industrial, Energy and Digital Sovereignty and Bpifrance Assurance Export recall the essential role played since 1946 by this economic policy tool in the service of the international development of French companies.

Created in the aftermath of the Second World War to support economic reconstruction and the return of French companies to international markets, public export guarantees have been a major lever for supporting French competitiveness and economic activity in the country for eight decades.

Thanks to careful management of the scheme, the guarantees support French companies of all sizes and across all regions, while limiting the risk to public finances. As a result, the guarantee procedure has consistently been balanced and even profitable for the past 30 years.

A strategic tool of the State serving foreign trade and the international development of French companies

Public export guarantees allow the State to intervene, in addition to the private market, to cover certain risks associated with international operations when these risks cannot be adequately addressed by other actors. They specifically cover political, monetary, and non-payment risks that French companies may face internationally, including in developing and emerging economies where financial support is crucial for securing private financing.

Since their creation, they have supported the international development of tens of thousands of companies of all sizes in sectors as varied as infrastructure, energy, transport, aeronautics, space, telecommunications, industry and health.

Nearly ten years at Bpifrance

Since January 1, 2017, Bpifrance Assurance Export has managed public export guarantees on behalf of, for, and under the control of the French State, through the oversight of the Treasury Department. This has simplified access to these programs for businesses and provided them with a clearer entry point, more closely aligned with their needs, particularly thanks to Bpifrance's local presence.

For the past ten years, Bpifrance has supported nearly 13,000 companies in their export activities. In 2025, the amount of public guarantees granted reached a record level, with more than 30 billion euros in guarantee commitments and 1,500 companies supported in their export projects.

Constant support for businesses facing unforeseen events

Since their inception, public export guarantees have supported French companies through major economic, financial, and geopolitical transformations. Thanks to their countercyclical role, they have enabled exporters to maintain access to financing and international markets, even during periods of high instability and across all geographical regions.

Mobilized during the major economic shocks of recent decades, they have provided a source of confidence and continuity for French businesses. This ability to support the economy over the long term continues to contribute to the presence of French companies in international markets today.

 A system geared towards the challenges of tomorrow

While public export guarantees have accompanied the major stages of French economic development for the past 80 years, they also continue to reinvent themselves to meet the new challenges of the global economy.

At the crossroads of issues of sovereignty, competitiveness, ecological transition and economic influence, they now constitute an essential lever in the service of France's international ambition and the development of French companies.

This dynamic of innovation has notably resulted in the creation of new mechanisms such as the Environmental Bonus, the Guarantee of strategic projects, the guarantees of "shopping line" credit lines, or the development of links with the AFD group, other export credit agencies and the participation of Bpifrance Assurance Export in the implementation of the European Global Gateway initiative.

80 years in service to the French economy

From post-war reconstruction to contemporary challenges, public export guarantees have constantly evolved to meet the needs of French companies and the priorities of the State.

The training of the French productive fabric through support for major export contracts is at the heart of this public policy, which directly links support for large company projects to the share of added value generated on national territory.

Today, public export guarantees remain a pillar of French foreign economic policy, contributing to the international influence of companies and the competitiveness of the national economy.

“Celebrating 80 years of public export guarantees means taking stock of the progress made, but above all, looking to the future. Since 1946, this tool has constantly evolved to support French companies and enable them to win markets abroad, in all regions, particularly those where a state guarantee is essential to access private financing. And this has been achieved with controlled risk management for public finances. Today, in the face of fierce international competition, we must continue to adapt our tools to support our industry, our sovereignty, and our export capacity.” said Roland lescure, Minister of the Economy, Finance and Industrial, Energy and Digital Sovereignty.

« Today we celebrate the 80th anniversary of the decree establishing Coface in 1946. A great adventure serving French industry, now an integral part of a major industrial bank, Bpifrance. This allows us to offer our clients the full range of financing and guarantees they need to plan for export, with a toolkit that is unique in the world. " precise Nicholas Dufourcq, CEO of Bpifrance.

« For 80 years, public export guarantees have demonstrated their ability to combine several objectives: supporting the competitiveness of French companies, facilitating their international development, and promoting France's economic commitment worldwide. It is this threefold dimension—economic, commercial, and diplomatic—that makes them unique. " said Denis Le Fers, Managing Director of Bpifrance Assurance Export.

Press Release: 80 Years of Public Guarantees 021026

Press Release: 80 Years of Public Guarantees 021026

Press contacts :

Roland Lescure's office: 01 53 18 41 20 – presse.mefsien@cabinets.finances.gouv.fr

Treasury Directorate General: 01 44 87 73 24 – presse@dgtresor.gouv.fr

Bpifrance Press: 06 69 47 14 76 – presse@bpifrance.fr