Large increase in Dutch ECA insured exports to Russia

(BCM, UK, 3 November 2005) During an official State visit, Atradius Dutch State Business (Atradius DSB) signed a co-operation agreement with Russia's Sberbank in the presence of both President Putin and Dutch Prime Minister Balkenende. The agreement will create a framework between Russia’s largest bank and Atradius DSB – the export credit facility of the Dutch State. It ensures that Sberbank will guarantee the risks which Dutch exporters have on Russian buyers. Closer co-operation between Atradius DSB and Sberbank will further support an increase in Dutch exports to Russia, with Russian applications to Atradius growing from 14% of all applications in 2004 to 25% to-date in 2005.