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The Export Financing Scheme operated by Oesterreichische Kontrollbank provides the opportunity to finance exports of goods and services as well as foreign investments.

Export Financing Scheme

Since 1960 OeKB has operated a scheme for financing exports of goods and services, primarily on a medium and long-term basis, giving special consideration to exports of Austrian capital goods.

The Export Financing Scheme (EFS) is made available to Austrian and foreign commercial banks. A credit rating, in accordance with OeKB's own criteria, is a pre-requisite for using the EFS as a source of funding. Moreover, the transactions to be financed must comply with legal requirements and have to be carried out within the framework of OeKB's standard procedures for handling transactions, particularly with regard to the securing of loans.

 

The lending transactions of the EFS are managed by OeKB's Credit Department. All credits are provided in conformity with the rules of the "Arrangement on Officially Supported Export Credits" ("OECD Arrangement"). The credits serve

  • to finance loans which commercial banks have extended to exporters to finance supplier credits (supplier credits) or
  • to finance loans of commercial banks to foreign governments, buyers or credit institutions to pay for Austrian exports (buyer credits). 

 

Foreign investments (equity financing) are equally eligible for financing under the EFS.  

Requirements for the financing are

  • an assumption of liability by the Republic of Austria according to the Export Guarantee Act or
  • an assumption of liability by a credit insurer according to the EFGA 1981 in the prevailing form or
  • a guarantee issued by Austria Wirtschaftsservice Gesellschaft mbH ("aws") or
  • an assumption of liability by an international organisation according to the EFGA 1981 in the prevailing form  
  • that the goods and services to be financed serve directly or indirectly the improvement of the Austrian balance of current transactions in goods and services or that the project to be executed abroad is in the Austrian interest.

 

Furthermore, the corresponding rights arising both from the assumption of liability as well as from the underlying (export) contracts have to be assigned as collateral security.



Contact

Financing Service Center

Tel. +43 1 53127-1717

Fax +43 1 53127-5533

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