Vienna, 19.12.2016 Österreichische Kontrollbank named best export credit agency 2016

Top marks for Austrian export promotion – Finance Minister Schelling declares endorsement of successful approach

Vienna (OTS) – At the Exporters' Choice Awards, renowned London conference and trend analysis agency Trade & Export Finance (TXF) awarded Oesterreichische Kontrollbank (OeKB) the title of "Best Performing ECA in 2016". Finance Minister Dr. Hans Jörg Schelling congratulated the OeKB on its "well-deserved first place, which underlines the important role of the Oesterreichische Kontrollbank. The OeKB makes a valuable contribution to Austria as a business centre. This award represents an excellent testimony also to the entire Austrian public export credit guarantee system."

"What is more, the award shows how well the cooperation between the Austrian Ministry of Finance (BMF) and the OeKB works," continued Schelling. Through the export promotion system, tried and tested over decades, the guarantees assumed by the Ministry of Finance for exports and foreign investments of domestic companies are administered by the OeKB. In a proven partnership, the Finance Ministry and the OeKB continue to develop this system further on a regular basis in order to provide Austrian exporters with competitive hedging and financing options in an ever-tougher climate. According to Mag. Johann Kinast, Departmental Head in charge of export guarantees at the Austrian Ministry of Finance, over recent years it has been possible to manage this process exceptionally positively in actuarial terms, applying a responsible risk policy to the provision of guarantees.

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