Reinsurance pact to support exports

EXIMBANKA, Slovakia's state-owned export-import bank, signed a reinsurance agreement with Oesterreichische Kontrollbank Aktiengesellschaft (OeKB), Austria’s main provider of financial and information services to the export industry and the capital market.

EXIMBANKA, Slovakia's state-owned export-import bank, signed a reinsurance agreement with Oesterreichische Kontrollbank Aktiengesellschaft (OeKB), Austria’s main provider of financial and information services to the export industry and the capital market.

The Slovak bank regards cooperation between the two institutions as very important as it marks the start of a joint process to facilitate the penetration by national exporters into the markets of third countries, the SITA newswire wrote.

Such cooperation in foreign trade has increased over the last few years. Eximbanka has signed three similar agreements. Previously it had only actively used an agreement with the Czech Export Guarantee and Insurance Corporation (EGAP).

Last year it signed reinsurance contracts with Germany’s Euler Hermes and SID bank of Slovenia.

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