News

Demand for credit and political risk cover continues to grow amidst a gloomy economic outlook for 2023 with both short-term and medium to long-term business expected to end on a high note in the fourth quarter of 2022.

Bei der diesjährigen Jahreshauptversammlung der Berner Union (BU) wurde wie gewohnt über den Geschäftsverlauf der Mitglieder und aktuelle Herausforderungen gesprochen. Ein besonderer Fokus lag diesmal auf Subsahara-Afrika.

- OeKB issues 3rd USD Global transaction this year
- With over USD 2 bn the order book was 2 times oversubscribed

OECD country categories for Tunisia and Kenya have been changed.

A recent report by the Berne Union shows that demand for export credit insurance is increasing. At the same time, the current geopolitical risk and economic environment is leading to heightened caution in the industry. The export credit insurers expect an increase in claims. Public credit insurers will nevertheless maintain their risk appetite.

- OeKB issues its 2nd USD Global transaction of this year
- With over USD 2.9 bn the order book was almost 3 times oversubscibed.

While providing companies with liquidity was the top priority in the first years of the pandemic, the focus is now on investments. The data in the current industry report from the Berne Union show that the medium- and long-term export credit business recovered in 2021 after the enormous decline at the beginning of the Covid-19 pandemic. New business grew particularly strongly in the renewable energy sector.

- Final orderbook included 110 investors from 18 countries
- 53% placed with SRI (socially responsible investments) focused investors
- 20% placement with Austrian investors

OECD country categories for Tunisia and Kenya have been changed.

- Substantial participation by international Central Banks and official institutions
- Final orderbook included 56 investors from 19 countries

Stabilised trade and new investment in energy transition have helped generate real growth for export credit, but multiplying risks now threaten the fragile pandemic recovery.

In March 2022 our Sustainable Financing Framework was successfully updated to reflect the longstanding commitment to sustainable development in Austria and internationally.

OECD country categories for Belarus and Russia have been changed.

OeKB's rating was raised to outlook "positive".

OeKB and BMF are reacting to the current developments in Ukraine and suspend cover for Russia, Ukraine and Belarus with immediate effect.

On the weekend of 26/27 February, OeKB will change its payment transaction system.

OECD country categories for Azerbaijan and Oman have been changed.