Yesterday, on the margin of the World Economic Forum, the Antwerp World Diamond Centre (AWDC) setup a dedicated diamond financing seminar in Davos, introduced by Flemish Minister President, Geert Bourgeois, and attended by international financial institutions.

The initiative is part of a strategy to inform banks and key players in the financial sector on the specific dynamics and functioning of diamond financing. Today, a mere 5 percent of global financial institutions are involved in the niche market of diamond financing.

Apart from providing seminar participants more information on the strengths of Antwerp as the world’s leading diamond trade hub and the underlying dynamics of the global diamond industry from mine to market, the seminar discussed the future outlook and challenges ahead, especially in terms of sustainable diamond financing for the industry. Alongside these elements, AWDC also provided more insight into the growing demand for diamonds as an investment product and presented the initiatives AWDC is undertaking to boost this demand.

Furthermore ABN Amro's Sabine Smets, the head of diamond and jewelry clients in Belgium, elaborated on the future prospect of diamond financing from a bankers’ perspective, underpinning the importance of profitability and transparency as crucial elements in a changed diamond-financing paradigm.

The seminar was concluded by a networking event, allowing participants to discuss the potential of diamond financing further.

The Antwerp World Diamond Centre (AWDC) is the coordinating body and the official representative of the Antwerp diamond sector and is recognized internationally as the host, spokesperson and intermediary for the Belgian diamond community. In this capacity, AWDC liaises on behalf of the Belgian diamond sector with governments and actively promotes support for the diamond sector at home and abroad. Eight-four percent of all rough diamonds and 50 percent of all polished diamonds pass through Antwerp. Diamonds represent 5 percent of the total Belgian exports and 15 percent of all Belgian exports outside the E.U., making diamonds the most important export product outside the E.U.