Luxembourg's Office du ducroire (ODL, Export Credit Agency) held a press conference on Friday to present its activities over the past 12 months.

As at 31 December 2015, it had paid €1.946 million and and total committments of €1.293 million.

84% of financial aid paid concerned reimbursements of participation fees in fairs and exhibitions, with 80% in Europe and 10% in North America.

A total of 670 applications were received (from 196 companies), of which 52 were declined, with the 618 applications coming from 149 companies. 64 of these were requesting financial support for the first time, with 34 being supported for the first time. 36 start-ups requested financial support, with 20 of these being supported.

The ODL's insurance activities amounted to covering €549 million of assets, with premiums of €6.2 million.