THE HAGUE, 03/03/07 - The Netherlands Financial Development Exchange (NFX) has been closed down. Its main activity was providing training for bankers and central banks in developing countries.

NFX was set up in 2004 with the aim of strengthening the financial sector in developing countries and giving Dutch banks an opportunity to enter these markets. Alongside a number of ministries and the Netherlands Development Finance Company (FMO) various commercial banks were part of NFX, including Fortis, ING, ABN Amro, Rabobank and Triodos.

But an evaluation revealed that "the various parties were aiming for different goals," according to the foreign ministry. "The initiative has turned out to be a bridge too far. Everyone had to agree in order to make a decision. This often turned out to be extremely difficult."

The parties do want to continue the partnership in another form, in which they operate more independently of one another. The spokesman could give no details on this, but insurers and financial supervisors might also be involved.