Belgian Export Credit Agency

The Belgian Export Credit Agency is the public export-credit arm of Credendo, a Belgian state-owned credit insurance group headquartered in Brussels. Its commonly used brand identity is Credendo – Export Credit Agency, while the parent institution’s official historical name is Delcredere | Ducroire. The agency supports Belgian companies and financial institutions involved in international trade and investment by helping them manage risks that commercial insurers or lenders may be unwilling or unable to absorb. The agency’s principal role is public credit insurance. It can cover qualifying transactions that contain a Belgian economic interest and benefit from a guarantee provided by the Belgian state. Covered risks include commercial credit risks, such as the failure of a buyer or debtor to pay, and political or sovereign risks arising from events or decisions in a foreign market. By taking on or sharing these risks, the agency can help Belgian exporters obtain payment protection, offer more competitive payment terms, and secure financing for cross-border contracts. Its support is relevant to several participants in an international transaction. Exporting companies may use cover for receivables or individual export contracts. Banks and other financial institutions may obtain protection connected with trade finance or project-related lending. Insurance undertakings can also be involved through reinsurance arrangements. The agency’s public mandate distinguishes it from the group’s private-market activities, which are conducted without a Belgian state guarantee through subsidiaries and branches operating in Europe. Credendo’s wider group provides customised insurance, reinsurance, guarantees, surety products and financing-related risk solutions for domestic and international trade and for investments abroad. A common private-market product is whole-turnover credit insurance, while surety is another important activity. The group is present in numerous European countries, whereas the Belgian Export Credit Agency function is based in Brussels and is specifically linked to supporting Belgian interests. The institution has roots in the post-First World War effort to promote Belgian exports. In 1921, the Belgian Ministry of Economic Affairs established a Delcredere Committee. The committee was separated from the ministry in 1935 and became the Office National du Ducroire | Nationale Delcrederedienst, commonly abbreviated ONDD. A further reorganisation in 1939 transformed it into an autonomous public financial body operating with a state guarantee. Export credit agency services have remained central to the organisation’s identity and mandate. In January 2017, the group completed a rebranding under the Credendo name. The parent entity and its subsidiaries adopted the shared Credendo identity, while the export-credit agency retained a descriptive designation identifying its public export-support function. The organisation remains wholly owned by the Belgian state and operates as a public institution rather than as a listed commercial company.

The Belgian Export Credit Agency originated in 1921, when the Belgian Ministry of Economic Affairs created a Delcredere Committee to encourage and protect Belgian exports. Its establishment reflected the need for public mechanisms capable of supporting exporters in transactions where foreign-buyer default, currency restrictions, political instability or other cross-border risks could not be handled easily through ordinary commercial insurance. In 1935, the committee was detached from the Ministry of Economic Affairs and converted into the Office National du Ducroire | Nationale Delcrederedienst, generally known as ONDD. This change gave the export-credit function a separate institutional identity. The organisation was reorganised again in 1939, becoming an autonomous public financial body with a guarantee from the Belgian state. That public guarantee became a defining feature of its role: the agency could support transactions with a Belgian interest while operating under a mandate broader than that of a private credit insurer. Over time, the institution’s activities developed around the protection and facilitation of international trade and investment. Its public export-credit operations have covered risks for Belgian exporters and for financial institutions involved in financing eligible transactions. The agency’s tools include insurance, guarantees and other forms of risk support addressing both commercial and political exposures. The practical objective is to make it easier for Belgian firms to trade internationally, obtain financing and offer contractual payment terms in markets where risk is elevated. The organisation became part of a broader European credit-insurance group. Alongside the public export-credit mandate, the group developed private-market activities conducted without a Belgian state guarantee. These activities include credit insurance, reinsurance and surety, delivered through subsidiaries and branches across Europe. The distinction between the two areas is important: the Belgian Export Credit Agency is the public institution responsible for transactions with a Belgian interest and state backing, while other Credendo entities serve private credit-insurance needs in European markets. In January 2017, the parent organisation and its subsidiaries adopted the Credendo brand. The parent’s formal historical designation remained Delcredere | Ducroire, but Credendo became the common identity for the group and its operating entities. The public agency is commonly identified as Credendo – Export Credit Agency. The rebranding created a unified group presence while preserving the agency’s specific public export-support function. Credendo is wholly owned by the Belgian state and remains headquartered in Brussels. Its present role combines the historical public mandate established in the interwar period with a broader group platform offering insurance, reinsurance, guarantees and surety solutions. The agency continues to focus on enabling Belgian exports and internationally oriented investment by protecting companies, banks and related financial participants from credit and political risks.

• 2017

  Credendo group rebrand

  [1]Belgian Export Credit Agencyen.wikipedia.org

  From January 2017, the parent organisation and its subsidiaries adopted the shared Credendo name, with the public agency commonly presented as Credendo – Export Credit Agency.

• 1939

  Conversion into an autonomous public financial body

  [1]Belgian Export Credit Agencyen.wikipedia.org

  A reorganisation transformed the agency into an autonomous public financial institution operating with a guarantee from the Belgian state.

• 1935

  Creation of the national export credit agency

  [1]Belgian Export Credit Agencyen.wikipedia.org

  The committee was separated from the Ministry and became the Office National du Ducroire | Nationale Delcrederedienst, known as ONDD.

• 1921

  Delcredere Committee established

  [1]Belgian Export Credit Agencyen.wikipedia.org

  The Belgian Ministry of Economic Affairs created a Delcredere Committee to promote and support Belgian exports.

A state-backed, public export-credit institution that enables Belgian international trade and investment by providing insurance, guarantees and related risk protection where commercial-market capacity may be limited.

• Export credit insurance

  Public export credit insurance

  Insurance backed by the Belgian state for eligible transactions containing a Belgian interest. It protects exporters and financing institutions against specified commercial and political risks associated with international trade. The cover can support the extension of credit, improve transaction bankability and reduce the impact of non-payment or adverse events in the buyer’s market.

• Risk insurance

  Political-risk cover

  Protection against political or sovereign events that can disrupt an export contract, foreign investment or related financing. Depending on the transaction, relevant exposures may arise from government action, political instability or other events affecting the ability to perform or receive payment. The agency provides this type of support as part of its public export-credit mandate.

• Credit insurance

  Commercial credit-risk cover

  Risk protection related to the failure of a buyer or debtor to meet payment obligations. For Belgian export transactions, this cover can help companies manage receivables and help banks assess or finance cross-border trade with greater confidence.

• Guarantees

  Guarantees and surety

  Guarantee and surety solutions support contractual and financing requirements connected with trade and investment. Surety is also a significant activity within the wider Credendo group, including private-market operations that are not backed by the Belgian state.

• Reinsurance

  Reinsurance

  Reinsurance is among the risk-transfer services associated with the wider Credendo group. It can help distribute trade-credit and political-risk exposures across insurance participants, although the public export-credit agency’s defining mandate remains state-supported cover for qualifying Belgian interests.

1. 1Belgian Export Credit Agencyen.wikipedia.org