Export Credit Agency of Kazakhstan participates in Berne Union Meeting dedicated to innovations and new products
The Export Credit Agency of Kazakhstan participated in the spring meeting of the Berne Union, dedicated to innovation, technology, and the green economy.
The spring meeting of the Berne Union brought together 250 participants from 89 countries who gathered at the headquarters of Export Finance in Oslo, Norway.
The meeting’s topic was "Innovation Without Borders: From the Latest Technologies to New Products," focusing on adapting the export credit insurance industry to the rapidly changing global environment. The meeting coincided with the release of BU members' industry data for 2023, which shows growth in support for trade and investment.
Maëlia Dufour, President of the Berne Union, noted that 2023 was an exceptional year for the export credit industry. In addition to growing support, especially in energy and climate sectors, BU members noted an increasing demand for domestic financing instruments and untied products, which aim to support critical imports and the formation of new supply chains. BU members continually create new products and incentives, including for sustainable projects, in response to emerging challenges and new risks.
During a panel session of the Prague Club Committee Meeting, Ayan Bektybaeva, Deputy Chairman of the Board of the Export Credit Agency of Kazakhstan, spoke about the Agency’s innovative approach to supporting non-resource exports. This includes diversification towards alternative industries to reduce dependence on the commodity sector and the integration of ESG factors in the underwriting and tariffing process. The principles of sustainable development are considered when assessing risks and calculating the cost of insurance coverage.
It should be noted that the Export Credit Agency of Kazakhstan also became one of the first members of the Net Zero Export Credit Agencies Alliance (NZECA) as an affiliated member. The corresponding document was signed during COP28 to consolidate the strategic ESG initiative, interact with leaders in this field, and apply best practices to achieve the overall goals of the Alliance.
