Ground breaking swap agreement between Atradius and EKF [ENG]

Amsterdam 3 August, 2006 - For the first time the Eksport Kredit Fonden (EKF), the Danish Export Credit Agency (ECA) and the Dutch ECA Atradius Dutch State Business (Atradius) have signed an agreement to swap country exposure. This agreement enables Atradius to free up capacity for new business on Indonesia and EKF to free up capacity for new business on Vietnam and Jamaica.

Most ECAs have ceilings for their exposure on all countries in order to mitigate concentration risks and to balance their portfolios. This agreement will enable Danish and Dutch exporters to pursue new business opportunities.

Atradius has exchanged Euro 50 million sovereign exposure on Indonesia for the equivalent risk on Vietnam and Jamaica with EKF.

One of the companies benefiting from the ground breaking agreement is Damen Shipyards, a Dutch market leader in specialised ships. Damen Shipyards will now be able to further expand its exports to Indonesia.

Also benefiting from the swap is Pihl & S