Credendo | Export Credit Agency (ECA) in Belgium

Export Credit Agency (ECA) in Belgium

Credendo | Export Credit Agency (ECA) in Belgium

About Credendo

Credendo is a European trade credit insurance group that covers risks worldwide. The parent company, Credendo – Export Credit Agency, was founded in 1921 to support Belgian international trade by granting guarantees and insurance for export transactions. It has since developed into an international group, present in 15 European countries and Russia, offering solutions in all segments of trade credit insurance:

  • Belgian export credit agency: promoting Belgian exports, imports and investments abroad with medium- and long-term trade credit and political risk insurance, financial guarantees and direct financing.
  • Whole turnover short-term credit insurance: providing flexible insurance policies with approved credit limits and a risk period of less than 2 years, worldwide, even in complex risk environments.
  • Single risk: covering single contract or single buyer risks up to 7 years in more than 160 countries.
  • Excess of loss: covering exceptional and unforeseeable risks of turnover receivables.
  • Top-up cover: adding capacity to the credit limits of a short-term trade credit insurance policy.
  • Surety: issuing contractual and legal bonds.

Credendo supports SMEs and large businesses with credit insurance, guarantees and bespoke financing solutions.

A summary of Credendo

History of Credendo

In 1921, the Belgian Government decided to create an agency to support exporting firms by granting insurance and guarantees. In 1939, the Office national du Ducroire (ONDD) became an autonomous public financial institution. In addition to its public aim – to provide insurance with a state guarantee – the company began to develop its private commercial insurance activities in 2004, taking the first step towards international expansion, which has now resulted in it having a presence in 15 countries. In 2017, the group adopted the name Credendo. The Belgian state remains its sole shareholder.

Raw Materials – From tobacco to spices, gold to bronze, commodities represent a large proportion of our trade finance portfolio

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Finished Goods – Our innovative structuring capabilities allow us to put together complex finance structures, even if the end goods are finished

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Metals – From scrap metal to alloys, we help traders and distributors access trade, receivable or PO finance for iron, steel and non-ferrous metals

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Are you an exporter based in Belgium?

See our TFG Belgium Export guide here .

Explore Export Credit Agencies around the world with our ECA finder

Key Stats

Name:

Credendo

Country:

Belgium, Europe

CEO:

Dirk Terweduwe

Founded:

1921

Employees:

550

Government:

The Belgian Ministry of Economic Affairs

Company Number:

+32 2 788 88 00

Address:

Rue Montoyer 3, 1000 Bruxelles, Belgium

Email Address:

businessdevelopment-eca@credendo.com

About the Author

Elcyn Domingo is responsible for the TFG Weekly Trade Briefings at Trade Finance Global.

She holds a Bachelor of Science degree in Information and Technology and is passionate about how SMEs can use new technologies to overcome challenges for business growth, with regard to both digital and sustainable models for trade.

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