Reinforcement of export and international development aid measures (ODL)
In the context of the pandemic linked to the coronavirus Covid-19, the Office du Ducroire has put in place measures to strengthen its support to Luxembourg exporting companies in their international prospecting efforts, including towards markets affected by the coronavirus.
Luxembourg businesses can benefit from the following measures:
increase in the guaranteed percentage of the limits and contracts issued during the state of crisis within the framework of export insurance;
collaboration with the Mutual Insurance Scheme (Mutualité de Cautionnement) by setting up an insurance of the guarantees issued by the Mutualité thereby allowing them to increase their capacity;
making the "Bank Credit Insurance" product more flexible, thus enabling banks to partially reduce the risk of non-repayment of the loans granted to Luxembourg exporters in order to develop their international activities. In this context, the ODL will also make the conditions applicable to this product more flexible, in particular by increasing the percentage of possible insurance and by broadening the definition of eligible bank loans;
increase of the insurance percentage under its bank guarantee insurance product, which is aimed at the banks of Luxembourg exporters to insure the guarantee line granted by the bank, and inclusion of import guarantees within the scope of the insurance;
reduction of the time limit for processing the claim, which will enable companies to be compensated more quickly in the event of a claim;
reduction of the time limit for the reimbursement of invoices paid within the framework of the financial aid activity.