Brussels, 29/10/2009 (Agence Europe) - On Thursday 29 October, the European Commission authorised changes to a Danish short-term export credit insurance scheme initially approved on 5 May 2009. It found the amended scheme to be consistent with the Commission Communication on short-term export-credit insurance and with the Temporary Framework for state aid measures to support access to finance in the current financial and economic crisis.
The aim of the Danish short-term export credit scheme is to support exporters by complementing insurance cover available on the private market. According to the Danish authorities, the reinsurance scheme introduced in May for temporary non-marketable export credit insurance, has become insufficient to adequately provide Danish exporters with the necessary coverage for sound short term export credit transactions. The amendments include, inter alia, an extension of the list of markets that are temporarily non-marketable and a reduction in premiums. (C.D./transl.rt)