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Dun & Bradstreet and EBRD join forces to build business and credit information services in central and eastern Europe
The European Bank for Reconstruction and Development (EBRD) and Dun & Bradstreet Information Services (D&B) have agreed to form a joint venture to accelerate the development of business information services in central and eastern Europe.
The EBRD is taking an equity stake in the joint venture, Dun & Bradstreet (C&EE) Holding BV. D&B is contributing its existing operations in Hungary and the Czech Republic, as well as its start up in Poland, into the joint venture. The joint venture will initially develop credit data collection and distribution capabilities in these countries although additional operations throughout central and eastern Europe are contemplated.
The venture will support economic growth and trade in the region by developing the business and credit information needed by companies engaged in international trade, investors and providers of financial services. It will also provide education and training in marketing and credit management to help companies in the region grow and reduce their credit risk.
"Rapid growth in central and eastern Europe will depend heavily on the availability of accurate business information to reduce the risks associated with extending trade credit, lending and investments. We are pleased to have formed this alliance with the EBRD, which we believe is a global information industry first. This venture will link D&B's global expertise with the EBRD's regional expertise" said Richard J.G. Archer, president of Dun & Bradstreet Information Services-Europe.
Guy de Selliers, Deputy Head - Merchant Banking at the EBRD, said "The timely availability of accurate business information will increase the visibility of business opportunities in Eastern and Central Europe and increase investments in the region. This will benefit domestic and foreign investors and lenders, and will also help to catalyse the growth of trade both within the region and between East and West."
The joint venture furthers the aims of both partners. It will accelerate the development of D&B's efforts to provide accurate, timely business information in these emerging markets. And, by helping to create a credit infrastructure, it advances EBRD's mission to support regional economic development.
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