Belgian export credit agency Ducroire/Delcredere (OND) has made some changes to countries and categories for medium and long-term export credits.
It has extended its cover capacities on Algeria for export transactions with a credit period exceeding one year (medium and long terms) and special transactions. The ceiling for these transactions has been increased from €
785mn to €
935mn. Within the framework of the OECD Arrangement, the premium category for these transactions remains unchanged (category 4 out of 7).
OND has eased up its cover conditions for export transactions with a credit period exceeding one year (medium and long terms) and special transactions with the Venezuelan public sector. All restrictive cover conditions have been lifted, save the ones relating to the exchange legislation. The country ceiling as well as the premium category for these transactions remain unchanged.
The agency resumes cover on Turkmenistan for export transactions with a credit period exceeding one year (medium and long terms) and special transactions. Projects with a high profit-earning capacity, of priority to the economic development of the country and important to the Belgian economy shall be involved. In order to cover transactions with private and public debtors respectively a bank guarantee or a guarantee issued by the Turkmen government is demanded.
The ceiling on Turkmenistan for these transactions amounts to €
90mn and the premium category (7 out of 7) remains unchanged.
There are lower premiums for medium and long-term transactions with Ghana, Jordan, Mali, Oman, Qatar and Venezuela too.
Following the OECD Arrangement, OND has lowered its insurance premiums for political risk related to medium and long-term export credits (credit period exceeding one year) on Ghana (from category 7 to category 6 – categories ranging from 1 to 7), Jordan (from 6 to 5), Mali (from 7 to 6), Oman (from 3 to 2), Qatar (from 3 to 2) and Venezuela (from 7 to 6).
The Belgian agency’s acceptance policy on these countries remains unchanged.