Indonesian military purchases to be supported by ECA credit facilities
A. Indonesian submarine, tanks, missles to be bought with export credits
A. Indonesian submarine, tanks, missles to be bought with export credits
(Jane's Navy International, 25 September 2008) The Indonesian Navy has outlined plans to procure submarines from a foreign supplier over the next few years through export credit, a funding facility being increasingly used by the southeast Asian country Speaking through the state-owned Antara news agency on 23 September, Navy Chief of Staff Vice-Admiral Tedjo Edhy Purdijatno said that "several countries" had offered to sell submarines to Indonesia, including Germany and South Korea. He added that export credit facilities would be used for the purchase. It was also decided that 17 BMP-3F tanks would be bought from Russia while the number of missile destroyers and the country of origin of one submarine had yet to be decided.
B. Expanded cover of Dutch ECA for Indonesia used for military exports
In the last ‘What’s New’ of August 2008 a news release of the Dutch Ministry of Finance was published, reporting that it had hedged a total €210 million of the export credit risks of the Netherlands in Indonesia through credit default swaps (CDS's). Early this month the signing of a new insurance policy for a Dutch export to Indonesia was reported for the supply of additional goods to the Indonesian Ministry of Defence for the 4 Dutch military navy vessels already insured by Atradius DSB for an amount of €1 billion. Since 2002, Atradius DSB insured in total 6 Dutch export transactions with a military nature, and only one civilian export transaction.
A. Indonesian submarine, tanks, missles to be bought with export credits
(Jane's Navy International, 25 September 2008) The Indonesian Navy has outlined plans to procure submarines from a foreign supplier over the next few years through export credit, a funding facility being increasingly used by the southeast Asian country Speaking through the state-owned Antara news agency on 23 September, Navy Chief of Staff Vice-Admiral Tedjo Edhy Purdijatno said that "several countries" had offered to sell submarines to Indonesia, including Germany and South Korea. He added that export credit facilities would be used for the purchase. It was also decided that 17 BMP-3F tanks would be bought from Russia while the number of missile destroyers and the country of origin of one submarine had yet to be decided.
B. Expanded cover of Dutch ECA for Indonesia used for military exports
In the last ‘What’s New’ of August 2008 a news release of the Dutch Ministry of Finance was published, reporting that it had hedged a total €210 million of the export credit risks of the Netherlands in Indonesia through credit default swaps (CDS's). Early this month the signing of a new insurance policy for a Dutch export to Indonesia was reported for the supply of additional goods to the Indonesian Ministry of Defence for the 4 Dutch military navy vessels already insured by Atradius DSB for an amount of €1 billion. Since 2002, Atradius DSB insured in total 6 Dutch export transactions with a military nature, and only one civilian export transaction.