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The ECGC offers export and domestic insurance packages to provide protection against commercial and political risks inherent in global and domestic trade.
It has previously bungled several agreements with carbon credit project owners, resulting in it losing out on 21 865 219 credits, valued at US$142,77 million.
This came to light just before the global climate summit in Dubai, COP28, and supposedly showed how seriously the petrostate was taking the climate challenge.
This, he said, would spare the service providers cash flow challenges that inconvenience the public which ultimately loses confidence in medical aid insurance.