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Ref. Ares(2019)4064177 - 26/06/2019
Ref. Ares(2019)4291643 - 05/07/2019
CHECKLIST
For reporting according to Regulation (EU) 1233/2011
I.
Reporting country information
Reporting Country
Belgium
Submission Date
Reporting Institution (Government
Credendo – Export Credit Agency
Department, ECA)
II.
Reporting country legal and policy information
Mandate/Legal status of ECA
Credendo – Export Credit Agency is an
autonomous public financial institution with
legal personality and guaranteed by the Belgian
State (law of 31 August 1939)
Officially supported export credit
- insurance of supplier credits
programs(in the sense of Article 5 of the - insurance of buyer credits
OECD Arrangement) during reporting - insurance of buyer credits in local currency
period
- insurance of special cash transaction
- bonds
- Insurance of contracting equipment
- insurance of investments
- financial guarantees
- forfaiting
- export funding guarantee
- buyer credit (for amounts between €2 million
and €5 million)
Annual reports available on reporting year
A consolidated Credendo Annual Report 2016 is
published on the following website:
https://www.credendo.com/_webdata/about/cred
endo_annual_report_2016.pdf
III.
Information on the reporting Member State’s Export Credit policies:
General presentation of the reporting MS’ Credendo – Export Credit Agency is the Belgian
policies on export credits, including all public credit insurer with a mission to promote
information that can help the Commission international economic relations. Credendo –
in carrying out its evaluation regarding the Export Credit Agency performs this task as an
compliance of the Export Credit Agencies autonomous government institution enjoying the
with EU objectives and obligations1 (in the state guarantee. Credendo – Export Credit
sense of Article 3, Annex 1 of EU Agency insures companies and banks against
Regulation1233/2011)
political and commercial risks relating to
international commercial transactions, mainly
regarding capital goods and industrial projects, as
well as contracted works and services.
For these risks, Credendo – Export Credit
Agency can also work alongside banks through
risk sharing schemes. Credendo – Export Credit
Agency also insures against political risks
relating to foreign direct investments and directly
1 EP side suggested to use such a phrase (to ensure that it is not forgotten that the Regulation's official reference
is to "EU objectives and obligations)
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finances commercial transactions of limited
proportion.
Special information on the following
policies:
1) Environment:
a) Do you apply the OECD
Recommendation on Common Approaches a) Yes, Credendo – Export Credit Agency applies
to the Environment and Officially the OECD Common Approaches.
Supported Export Credits?
(its successor instrument the OECD b) All transactions are being screened for
Recommendation on Common Approaches
possible negative environmental/social effects,
on Officially Supported Export Credits and
after which a review may take place if possible
Environmental and Social Due Diligence?)
negative effects have been identified. This risk
evaluation is a part of the standard assessment
b) any other relevant information
procedure within Credendo – Export Credit
Agency.
2) Human rights:
a) Do you apply the Human Rights related a) Yes, Credendo – Export Credit Agency applies
aspects of the
the OECD Common Approaches.
Recommendation on Common
Approaches, on Officially Supported b) Credendo – Export Credit Agency seeks to
Export Credits and Environmental and ensure that the projects guaranteed do not have
Social Due Diligence?
negative consequences for human rights.
b) Any other relevant information?
3) Anti-Bribery measures:
a) Yes, Credendo – Export Credit Agency applies
a) Do you apply the OECD
the OECD Recommendation on Bribery.
Recommendation on Bribery and b) For any transaction, Credendo – Export
Officially Supported Export Credits?
Credit Agency requires a signed non-bribery
declaration. Credendo – Export Credit Agency
b) Any other relevant information?
will reject an application if there is serious
concern that the applicant or his agent has
engaged or will engage in bribery. Afterwards,
Credendo – Export Credit Agency checks if
measures to remediate bribery have been
taken. Credendo – Export Credit Agency
encourages all exporters and banks to develop,
use and document control systems to fight
bribery.
4) Sustainable Lending Practices:
a) Do you apply the OECD Principles and a) Yes, Credendo – Export Credit Agency applies
Guidelines to Promote Sustainable
the OECD Principles and Guidelines to Promote
Lending Practices in the Provision of Sustainable Lending Practices.
Official Export Credits to Low Income b) Credendo – Export Credit Agency supports
Countries?
economically sustainable development. Credendo
- Export Credit Agency promotes responsible
b) Any other relevant information?
lending to low income countries from getting
into a situation of unsustainable debt. Credendo –
Export Credit Agency meets the requirements of
World bank and IMF regarding the
concessionality and the sustainable lending.
5) Other policies
a) Credendo – Export Credit Agency supports
micro financing projects
b) Credendo – Export Credit Agency applies an
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environmental policy for the insurance of special
cash transaction and Investment
c) Credendo – Export Credit Agency promotes a
dialogue with its clients regarding CSR policy
d) Credendo – Export Credit Agency is member
of The Shift and of the Renewable energy Club
of Agoria (Belgian Federation for the Belgian
Technology industry),
e) Credendo – Export Credit Agency cooperates
with Transparency International.
f) Credendo – Export Credit Agency develops a
plan to reduce its Carbon emission (a Carbon
footprint has been done)
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IV.
Annual Activity Report data:
Explanatory note:
“MS shall report, in accordance with their national legislative framework, on assets and
liabilities, claims paid and recoveries, new commitments, exposures and premium charges."
From Regulation 1233/2011, Annex 1.
Member States that have more than one ECA should do one single integrated report (reporting
obligation is on the Member State as such, not the ECA). Where a MS offers at the same time
different types of products (pure cover and direct lending), the reporting under chapter IV
should however differentiate.
A) In case of official support is provided in the form of export credit guarantee or
insurance (“pure cover”) in the sense of Art 5 a 1) OECD Arrangement:2 in
million euro
Overview of assets
Intangible assets
19,94
Investments
2.397,14
Participation of
105,31
reinsurers in technical
provisions
Receivables
629,31
Other Assets
298,03
Current Accounts
8,32
Total 3.458,06
Overview of liabilities
Equity
2.182,87
Technical provisions
1.157,14
Provisions for other
0,04
risks and costs
Deposits received
0,28
from reinsurers
Debts
102,52
Current accounts
15,21
Total 3.458,06
Aggregate nominal risk exposure
6.306
• 01-01-2016
• 31-12-2016
a.) nominal risk exposure under insurance n/a
policies issued
• 01-01-20xx
• 31-12-20xx
b.) nominal risk exposure under promises n/a
and notices of cover
• 01-01-20xx
• 31-12-20xx
Premium Income
202
Recoveries
133
Claims paid
195
B) In case official support is provided in the form of Official Financing Support in
the sense of Article 5a2) OECD Arrangement:
Overview of assets
n/a
Overview of liabilities:
n/a
a) nominal value of officially supported
2 Member States not using EUR should report the figures in their national currency and in EUR
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loan portfolio
• 01-01-20XX
• 31-12-20XX
b) total value of off balance commitments
• 01-01-20XX
• 31-12-20XX
Interest received
n/a
Annual profit/loss
n/a
VI. Contingent
liabilities
Where contingent liabilities might arise n/a
from officially supported export credit
activities, those activities shall be
reported:
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V.
Evaluation and incorporation of environmental risks
Environmental risks:
a) Number/exposure of transactions Projects in category A that fall under the scope
Category A
of the Common Approaches: 3
b) Number/exposure of transactions
Projects in category B that fall under the scope
Category B
of the Common Approaches: 3
How are environmental risks, which can Credendo – Export Credit Agency will review
carry other relevant risks, taken into the project on the following cases:
account in the officially supported export - if the contract concerns a sensitive sector (with
credit activities?
potential negative impacts), even for small
transactions (below 10 SDR million)
- if the contract concerns a sensitive area
Classification in A, B of C is done by our
environmental specialist. If A, an Environmental
Impact and social study is required and if B,
strongly recommended.
On this base, mitigation measures are studied
and implemented. The decision of Credendo –
Export Credit Agency to cover a transaction will
be taken only if the project is positive for the
economic, environmental and social
development of the country. Credendo – Export
Credit Agency can add specific conditions to the
contract if necessary. In this case, a monitoring
process is required.
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Document Outline