Export credits

111th Meeting of the Working Party on Export Credits and Credit Guarantees (ECG)


111th Meeting of the Working Party on Export Credits and Credit Guarantees (ECG)
23 and 24 April 2007

  1. The Members of the OECD Working Party on Export Credits and Credit Guarantees (ECG) met on 23 and 24 April 2007. The main issues for discussion were officially supported export credits in the context of a revised survey of Members’ anti-bribery measures, the review of the OECD Recommendation on export credits and the environment, debt sustainability and responsible lending, and presentations from three Non-Member Economies.
  2. Members of the ECG welcomed delegates from a number of Non Member Economies who were invited, for a second time, to participate in the meeting as ad hoc observers; these included Brazil, China, India, Israel and South Africa. In addition, representatives of the World Bank Group, the International Monetary Fund (IMF) and the International Union of Credit and Investment Insurers (Berne Union) also attended the meeting.
  3. In 2006, Members agreed to an enhanced Action Statement on export credits and bribery, containing new measures designed to ensure that Export Credit Agencies do not provide support for export contracts that are tainted by bribery: this Action Statement was adopted as an OECD Recommendation by the OECD Council in December 2006. As a result, Members discussed changes to the ongoing survey about Members’ policies and practices with regard to anti-bribery measures to reflect the provisions of the new OECD Recommendation: the revised survey will be made available on the OECD website shortly and the responses from Members later in the year.
  4. The ECG had a final round of discussions on the review of the OECD Recommendation on environment and export credits and subsequently concluded agreement to a draft text for a revised Recommendation: this will now be presented to the OECD Council for adoption, after which it will be made available on the OECD website. In reviewing the draft text, Members were able to draw on comments made by Civil Society Organisations, who had been shown the latest draft text prior to the meeting: comments had been submitted by BIAC, the European Banking Federation and ECA-Watch and also benefit from information from the IFIs on their environmental standards and guidelines.
  5. The ECG discussed again with the World Bank and the IMF the issue of debt sustainability and responsible lending in the context of their Debt Sustainability Framework initiative: Members agreed to expand the coverage of their Unproductive Expenditure Statement of Principles to all IDA-only countries and to work together to share additional data concerning export credits provided to such countries.
  6. The ECG also received presentations from the China Export and Credit Insurance Corporation (SINOSURE), the Export-Import Bank of India, the Israel Export Insurance Corp. Ltd. and the Berne Union.

XCRED Secretariat
April 2007


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