BIL and Office du Ducroire sign the first framework agreement to finance companies’ international growth

fr en de

Banque Internationale à Luxembourg (BIL) and Office du Ducroire (ODL) announce the signature of a framework agreement aimed at increasing issuance of loans to finance Luxembourg companies’ international trade. It is the first deal of its kind agreed between ODL and a bank.

<< Back
  • 20190513 ODL-BIL

International growth is a real challenge for any company, but especially small and medium-sized enterprises. Researching new clients, setting up and even adapting products to the local market require big investment. Moreover, the import-export business is cash-hungry: a foreign client may ask for an extended payment deadline, and in the case of a foreign supplier, a large down payment may be required. The company’s ability to mobilise substantial financial resources is key.

The agreement signed between BIL and ODL answers this challenge. It facilitates companies’ access to funding for import-export projects through a bank loan insurance policy that partially covers the borrower default risk.

“Through this deal with ODL, we will be able to strengthen our support for the Luxembourg economy by helping companies with their international development plans. This insurance has been eagerly awaited by businesses in the country, and we are happy to be the first bank to offer it”, said Marcel Leyers, Chairman of the Executive Committee of Banque Internationale à Luxembourg.

“The fact that exporters often have trouble accessing the funds needed for their international development led us to launch this new product, which is supposed to provide leverage by protecting banks partially against the risk of non-reimbursement of the loans. This cover will allow banks to open higher credit facilities for Luxembourg companies’ international operations, while keeping their risk at an acceptable level,” explained Arsène Jacoby, Chairman of ODL.

ODL’s bank loan insurance supplements BIL’s range of business services. From a company’s foundation to takeover, to the financing of investments and innovative or international projects, the bank accompanies small and large firms through each stage of their development.

To find out more about this bank loan insurance available from BIL and ODL, visit www.bil.com/trade-finance

Back to top  | << Back

Communiqués liés

Kleos nano-satellite artwork -source Kleos (002)

Kleos Space prend pied aux États-Unis

Accès des ministères du gouvernement américain aux fichiers de données des s...

Kleos Space S.A.
1 Adriano Picinati di Torcello - Deloitte (002)
14/10/2019

Deloitte lance la 6e édition de l’Art & Finance Report

L’art et les objets de collection continuent de susciter l’intérêt dans le...

Deloitte
Flavia Micilotta (002)
14/10/2019

LuxSE releases Guide to ESG Reporting

In line with its stated objective to promote transparent capital markets, the Lu...

Bourse de Luxembourg
Luxempart
14/10/2019

Luxempart co-invests in Boxine alongside its partner Armira

Luxempart, a Luxembourg-based investment holding backed by entrepreneurial famil...

Luxempart
Induction week (002)
11/10/2019 Personnalités

Deloitte Luxembourg accueille plus de 200 nouveaux talents e...

Entre septembre et octobre, plus de 200 nouveaux talents ont rejoint Deloitte L...

Deloitte
JobsEurope

Gagner la «guerre des talents» - JobsEurope Sàrls lance u...

Les experts financiers peuvent désormais trouver leur futur emploi au Luxembour...

JobsEurope Sàrls

Il n'y a aucun résultat pour votre recherche

We use cookies to ensure the best experience on our website. By accepting you agree the use of cookies. OK Learn more