Collaboration between EKF and the Trade Council on financing consulting is part of the Danish government’s strategy for the BRIC countries and other growth markets. The new service for Danish export companies will be available in the early autumn of 2012 when an export consultant from the Trade Council and a financing expert from EKF will be ready to man the telephones.
The purpose of the new service is to strengthen the companies’ competitiveness in the growth markets by giving them more knowledge of governmental and private financing solutions, and of how they can interact with the companies’ normal banks.
Financing as a competitive parameter
Financing is a vital competitive parameter for Danish companies in relation to exports and getting established in growth countries. Companies are therefore challenged by Danish banks having a limited presence in the growth markets. And as small and medium-sized Danish companies in particular often have no relationships with foreign banks, gaining access to financing is a challenge. However, guarantees from EKF can often pave the way for the companies’ normal banks to provide financing for the companies’ customers or for direct investments in the growth markets.
In addition to establishing a joint consulting unit for financing in Copenhagen with an export consultant from the Trade Council and a financing expert from EKF, Danish companies can benefit from
- in future being able to meet a financing consultant from EKF at the embassy in Moscow
- a team of specialist export and financing consultants manned by local employees in a number of growth markets.
The project is currently a two-year pilot project.