A new stage of EximBank-Severnav successful partnership

Bucharest, December 6, 2011 – Relying on the support extended by EximBank, the shipbuilder Severnav Drobeta Turnu-Severin successfully achieved the building of two river ship units type “push barge” amounting to almost Euro 1.3 million designed for a Dutch trade partner.

To carry out such an external agreement the shipbuilder from Drobeta Turnu-Severin has applied to EximBank for a multiproduct limit including target credits and letters of bank guarantee.

This means a new stage of the partnership between the parties involved, after having accomplished with EximBank assistance as well, another unit about 107 m high for a ship Bodewes Trader 5400 DWAT amounting to euro 2.5 million addressed to another Dutch partner.

Actually, one of EximBank’s priorities is to sustain and promote Romanian exports with the partnership concluded with the shipbuilder of Drobeta Turnu-Severin as one of several successful stories unfolded in this area.

EximBank includes in its portfolio a wide array of products directed at the exporting companies, which range from financing to cover for goods manufacture and delivery to guarantees for the loans granted by other banks or insurance against commercial and political risks.

The financing mix includes both standard credits for current business or investment and particular products as State Aid: credits at subsidized interest rate or with partial interest rate offset enabling recovery of up to 50% of the rate paid for RON investment credits engaged with commercial banks.

As for guarantees, EximBank can provide export credit guarantees (for credits related to production, services and operations pertaining to exports), export guarantees for general commodities and complex objectives (to counter-guarantee the bid bonds, retention bonds, payment bonds, performance bonds, etc.) or the cross-border guarantees (for the companies with Romanian capital which set up subsidiaries abroad, expand the existing subsidiaries through investment projects or acquire shares/stakes of a foreign company).

To mitigate commercial and political risks likely to occur during international transactions EximBank supplies a various range of insurance products:
Insurance policy against external payment default (non-marketable risks)
Insurance policy for medium and long-term export credits
Insurance policy for Romanian capital investments abroad
Insurance policy for buyer credit .

Moreover, EximBank provides the product “Commercial and Credit Information”, an instrument enabling companies to get acquainted with a prospective partner before concluding the agreement.

Companies interested in EximBank products can apply to the territorial units of the bank or access information at www.eximbank.ro