Full integration of the Prague Club into the Berne Union contributes to a much closer framework among experts and a stronger voice for ECAs products globally.
The Berne Union (BU) was founded 82 years ago in order to provide risk mitigation products to expoeters and investors helping companies to trade and invest safely internationally. Since 1954 OeKB has been a Member of the BU.
Members of the Prague Club (PC) originate from countries such as Bosnia-Hercegovina, Bulgaria, Croatia, Indonesia, Iran, Kazakhstan, Oman, Russia, Romania, Saudi-Arabia, Serbia, Ukraine, Usbekistan. They are new and maturing insurers of export credit and investment.
At the Spring Meetings of the BU in Warsaw the Members voted for a full integration of the PC. The new integrated Berne Union will have 81 members from 73 countries.
Business Figures of the BU (including PC) 2015
|US Dollar Billion|
|Export credits, short term||1.600,0|
|Export credits, medium and long term||154,0|
The overall commitment of the new integrated BU represents backing of approx. 11 % of world trade.
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