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Country Commercial Guides FY 2000: Netherlands Report prepared by U.S. Embassy The Hague, released July 1999 Note*

CHAPTER VIII. TRADE AND PROJECT FINANCING

Description of Banking System

Banking and financing are important service industries in the Netherlands providing funds for international as well as domestic trade. The Dutch financial sector is dominated by three Dutch bank conglomerates - ABN Amro, Rabobank, and ING Bank - which have about 75 percent of total lending. U.S. financial services providers in the Netherlands play on a level legal field. The Finance Ministry and Central Bank grant full national treatment to foreign banks.

According to the Finance Ministry, Dutch legislation implements all existing EU law and regulations on the provision of financial services. Banks organized in the Netherlands as branches of a U.S. parent cannot benefit from the EU single banking passport and are subject to both U.S. and Dutch regulations.

Foreign financial services providers face no special conditions or restrictions, and receive full national treatment. However, one provision of the Dutch 1992 Banking Act does reflect the EU Banking Directive's "reciprocity" provision. The Finance Ministry says this section has never been used, and that all applications from non-EU parent banks are handled on a national treatment basis.

To locate Dutch banks with correspondent U.S. banking arrangements, contact:

The Netherlands Bankers' Association (NVB)
P.O. Box 3543
1001 AH Amsterdam
Phone: (31) 20 550 2888
Fax: (31) 20 623 9748.

Foreign Exchange Controls Affecting Trade

There are no foreign exchange controls in the Netherlands.

General Availability of Financing

Banking facilities for international transactions available in the Netherlands generally meet or exceed U.S. standards.

How to Finance Exports/Methods of Payment

Financing is provided at market rates by commercial banks and (for a small part) by a specialized export financing company - NV Export Financiering Maatschappij, set up by the large commercial banks.

Types of Available Export Financing and Insurance

The Nederlandsche Credietverzekering Maatschappij NV (NCM), a private company owned by the Dutch banks, and a number of insurance and export finance companies, provides export credit insurance. NCM can be contacted at: Nederlandsche Credietverzekering Maatschappij NV, Keizersgracht 271-287, 1016 ED Amsterdam, Phone: (31) 20 553 9111, Fax: (31) 20 553 2811. Information on Eximbank programs can be obtained from the marketing department, Phone: (202) 566-8860. Eximbank also has a toll free number, Phone: (800) 424-5201, that provides information on its overall programs.

Availability of Project Financing

Most projects are financed by public and private sector lenders at commercial rates.

Types of Projects Receiving Financial Support

As a member of the European Union, the Netherlands has access to EU-funded programs which provide a wide range of support in the form of grants, loans and co-financing for training, feasibility studies, infrastructure projects in the environmental, transportation, energy and other key sectors. EU initiatives are designed to support projects within its Member States and the EU-wide "economic integration" projects that cross over borders.

EU Structural Funds are available to assist economically depressed regions that require industrial restructuring and agricultural re-conversion. Tenders for such projects are subject to EU public procurement legislation, provided that the tender meets the EU threshold requirements. There are no overt prohibitions against the participation of U.S. firms. From a commercial perspective, these initiatives create significant market opportunities for European firms of American parentage.

List of Banks with Correspondent U.S. Banking Arrangements

The Dutch banking sector is dominated by three big Dutch banks: ABN Amro, ING, and Rabobank. Nonetheless, U.S. and foreign banks are represented. Important bank contacts:

ABN Amro Holding NV
P.O. Box 283
1000 EA Amsterdam
Phone: (31) 20 628 9898
Fax: (31) 20 628 7740

Internationale Nederlanden Bank NV (ING)
P.O. Box 1800
1000 BV Amsterdam
Phone: (31) 20 563 9111
Fax: (31) 20 563 5700

Rabobank Nederland
P.O. Box 17100
3500 HG Utrecht
Phone: (31) 30 290 9111
Fax: (31) 30 290 2672

Bank of America National Trust and Savings Association
P.O. Box 1638
1000 BP Amsterdam
Phone: (31) 20 557 18 88
Fax: (31) 20 557 16 00

Citibank NA
P.O. Box 23445
1000 DX Amsterdam
Phone: (31) 20 651 42 11
Fax: (31) 20 651 42 34

Foreign Bankers' Association
P.O. Box 19870
1000 GW Amsterdam
Phone: (31) 20 550 2888
Fax: (31) 20 623 9748