European credit insurance group expresses interest in facilitating investments with PH

Finance Secretary Benjamin E. Diokno met with Credendo, a state-owned European credit insurance group and Belgian Export Credit Agency, on October 27, 2023 following the inaugural Global Gateway Forum in Brussels, Belgium.

CEO and Chairman Dirk Terweduwe expressed Credendo’s interest in facilitating investments between Belgium and the Philippines. He also shared that Credendo’s risk outlook on the Philippines is stable, noting that the low external debt, adequate liquidity, and continued prudent government policies are supportive buffers in an uncertain climate.

Credendo’s Philippines Risk Assessment:

Credendo, headquartered in Brussels, Belgium, provides customized options for insurance, reinsurance, guarantees, surety, and financing related to domestic and international trade transactions or investments abroad. It protects companies, banks and insurance undertakings against credit and political risks, and facilitates the financing of export transactions.

Credendo has supported projects in the Philippines such as Turbulent Micro Hydro’s demonstration site in Davao Oriental.