Technically required cookies
These cookies are mandatory for basic functions of the OeKB website.
05.11.2024
More than 300 participants from 89 institutions gathered mid of October in the port city of Hamburg for the Annual General Meeting of the Berne Union (BU). The meeting theme was "collaboration".
The representatives of the export credit and investment insurance industry discussed around public and private risk-sharing, synergy between trade and development, and the potential for innovation amid new products and emerging approaches to export support.
Highlights from BU industry data for the first half of 2024
- New business is growing and reached USD 2.46 tn in the first half of the year. New commitments in medium/long-term (MLT) export credits rose particularly strongly, by 22% to USD 73 bn. Notable growth was seen above all in Europe, the Middle East and South Asia.
- Ocean-going vessels and mega infrastructure projects such as the 5G rollout in India or gigafactories for battery production drive MLT growth, but the industry still sees the greatest opportunities in renewables and green transition.
- Support for green projects remains a priority for ECAs in product development alongside the promotion of SMEs. The digitalisation of products and artificial intelligence are also important topics and challenges for the industry.
- Geopolitical risk and economic slowdown are the biggest concerns for BU members. In the first half of 2024, there was a massive increase in political claims in connection with investments in Russia, triggered by events such as expropriations and transfer restrictions. The financial situation in markets such as Ghana, Zambia and Ethiopia remains tense.
Joint initiative to promote closer collaboration between export credit and development finance
The Berne Union (BU) and Finance in Common (FiCS) are launching a joint initiative to close existing gaps in development financing, some of which are considerable. This is intended to promote closer cooperation between public development banks (PDBs) and export credit agencies (ECAs). Working groups, joint research activities and knowledge transfer are intended to improve mutual understanding and identify potential synergies.
About Berne Union (BU)
The Berne Union is the international association of export credit and investment insurers. The 85 members collectively provide payment risk protection equivalent to approximately 14% of annual world trade. OeKB has been a member of the BU since 1954 and represents the interests of the Austrian export industry there.