Companies that export or invest abroad can count on OeKB for made-to-measure financial services that enhance their ability to compete internationally.
Protection against non-marketable export risks
OeKB, as the agent of the federal government, is Austria’s official export credit agency (ECA). In this sphere, OeKB’s activities are based on the Export Guarantees Act and the international standards of the OECD and European Union.
As a service provider for the Austrian Ministry of Finance, OeKB profitably operates the system of export guarantees for non-marketable risks of foreign sales (for higher-risk markets or risk periods of more than two years).
Applications for guarantees are screened by OeKB and then reviewed by an advisory committee within the Ministry of Finance. The guarantor is the Minister of Finance.
Insurance subsidiaries for marketable risks
Cover for marketable risks is provided by private export credit insurers such as the two OeKB subsidiaries, OeKB Versicherung AG and PRISMA Kreditversicherungs-AG.
Financing for exports
OeKB raises finance on attractive terms in international financial markets by issuing bonds. Channelled through commercial banks, this capital is used to fund exports and outward foreign investment. OeKB’s excellent issuer credit ratings (AAA/Aaa) are based on the guaranteed backing of its debt by the full faith and credit of the Austrian government. OeKB pays a fee to the government for this guarantee.
Guarantees form the basis of OeKB financing through client’s own bank
To be eligible for funding through the OeKB export financing scheme, transactions require an export guarantee from the Austrian government, an appropriate guarantee from a credit insurer, a guarantee from Austria Wirtschaftsservice Gesellschaft mbH (aws) or an appropriate guarantee from an international organisation.
Cooperation with commercial banks and Chamber of Commerce
OeKB is owned by commercial banks. An efficient system of collaboration in advising on export guarantees and as lenders in export financing connects OeKB with these shareholders. Another financing partner working with the banks to serve small and medium-sized companies is Exportfonds, a subsidiary of the OeKB Group.
Proven partners for export services
In the Austrian Chamber of Commerce (WKO) and its trade commissions at home and abroad, Austrian exporters enjoy outstanding worldwide support for their international activities. WKO and OeKB work closely together in making this possible. Their joint ownership of Exportfonds underlines the closeness of this alliance. OeKB is also a partner in the ongoing export promotion drive mounted by the Austrian Federal Ministry of Economics and Labour.
Well connected abroad
Internationally, OeKB is tightly networked with other export credit agencies through insurance treaties and the Berne Union, the world’s leading organisation of export credit and investment insurers. This enhances opportunities for Austrian companies in projects supported by more than one ECA.
International debt rescheduling
Sometimes a debtor country can no longer meet its payment obligations to creditor countries. In the so-called Paris Club (an informal group of creditors), federally guaranteed credits and foreign aid debt are renegotiated and rescheduled. OeKB advises the Austrian government in this regard.