The value of contracts for financing the business and activities of Czech exporters and investors and their foreign partners through credits, guarantees and other products offered by Czech Export Bank reached over CZK 19 billion in 2006. Of this amount, export credits accounted for a total of 9.2 billion, of which almost 8.5 billion was provided in the form of buyer export credits to partners of Czech companies, either directly or through their banks. As part of pre-export financing, the Bank signed with its clients in this country contracts worth CZK 3.8 billion for manufacturing and investment for export, while the value of issued guarantees came to almost CZK 1.8 billion. This meant that in comparison with 2005 the value of signed contracts increased by 10%.

At the end of the year, for example, a contract for financing the construction of a gas/steam power station with an output of 200 MW in Pakistan (the general contractor of which will be Škodaexport) contributed to the promising outlook for Czech manufacturers and exporters in new or revisited territories. CEB is supporting this through products worth over USD 90 million. Czech exports to Russia also continue to increase, as well as investments by Czech companies not only in the Russian Federation, but also in other countries in the Commonwealth of Independent States. The main deliveries in this case are specialised technologies, transportation-related machinery products, machine tools and shaping tools; under discussion are developer projects and infrastructure and energy projects. After several decades, Czechs are delivering to Russia a turnkey power station – in November the foundation stone of a gas/steam power station with an output of 70 MW was laid in the Vologod region, while contracts for its financing worth around EUR 80 million, including pre-export, were also signed by CEB during 2006. Small and medium sized enterprises continue to make up a significant group in the CEB portfolio, with the Bank signing contracts worth almost CZK 1 billion with them. Czech Export Bank is not only a part of the system for state support of exports, as part of which it resolves the majority of its business cases together with EGAP, and in its consultancy work shares its experience and territorial knowledge with Czechtrade. It is also currently firmly anchored in the banking community, and when resolving the needs of Czech companies, it very closely cooperates with commercial banks both on a mutual basis and also through a specialised body of the Czech Banking Association, the Working Group for Export Financing.

Jan Stolár
Director of Communication
Tel.: +420 222 843 233
Fax: +420 222 841 266
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CEB provides Czech exporters with state supported export financing and financial services connected with the export of goods and investments, thus enabling Czech exporters to compete on the international market under comparable conditions to those enjoyed by their main competitors from other developed countries. Recipients of supported financing can be exporters (i.e. legal entities with their registered offices in the Czech Republic or, in exceptional cases, natural persons with permanent residency in the Czech Republic) or their foreign customers. The domestic bank of the exporter or the foreign bank of the importer may also enter into these transactions. All CEB activities are fully in accordance with WTO (World Trade Organisation) rules, the applicable OECD (Organisation for Economic Cooperation and Development) recommendations and European Union directives. CEB has been awarded an A- rating from Standard and Poor’s, and an Aa1 rating from Moody's Investors Services.