Export credits

112th Meeting of the Working Party on Export Credits and Credit Guarantees (ECG)


112th Meeting of the Working Party on Export Credits and Credit Guarantees (ECG)
6 November 2007

  1. The Members of the OECD Working Party on Export Credits and Credit Guarantees (ECG) met on 6 November 2007; the meeting was chaired by Ms. Nicole BOLLEN (the Netherlands). The main issues for discussion were: the outcomes of the Consultation Meeting with Civil Society Organisations (CSOs); officially supported export credits in the context of sustainable lending; a revised survey of Members’ measures with regard to the environment; a review of Members’ responses on the revised survey with regard to anti-bribery measures; and a review of 2006 business statistics.
  2. Members of the ECG welcomed delegates from a number of Non Member Economies who were invited, for a third time, to participate in the meeting as ad hoc observers; these included Brazil, China, India, Israel, Slovenia 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. Representatives from other OECD Directorates were also present to update Members on issues of mutual interest.
  3. Members received a report from the Chairman of the CSO Consultation meeting, Mr. Brendan BERNE (Australia), which had taken place on 5 November 2007. A separate report of this meeting and the related correspondence are available elsewhere on the OECD web site. Members agreed to continue to engage with CSOs, where appropriate deepen bilateral contacts with CSOs and consider further modalities for peer reviews and future CSOs consultations. In addition, the ECG’s Environmental Practitioners will consider at their next meeting how CSOs could contribute to the building of a body of experience in the implementation of the 2007 Recommendation on the environment.
  4. In April 2007, Members agreed to extend the coverage of their Unproductive Expenditure Statement of Principles to all IDA-only countries. To complement this initiative, discussions continued with the IMF, the World Bank and Non-Member Economies on ways to promote Sustainable Lending practices in the provision of official export credits to Low Income Countries.
  5. In June 2007, the OECD Council adopted a Revised Council Recommendation on Common Approaches on the Environment and Officially Supported Export Credits on enhanced measures for reviewing the potential environmental impact of projects supported with official export credits. In consequence, Members discussed proposals for changes to the ongoing survey of their environmental policies and practices to reflect the provisions of the 2007 Recommendation:  the intention is to finalise the survey before the end of the year, after which the responses will be made available on the OECD website. The IFC reported on the implementation of its environmental and social Performance Standards (which are specified in the Recommendation).
  6. In December 2006, the OECD Council adopted a Recommendation on Bribery and Officially Supported Export Credits: subsequently, Members finalised and completed a revised Survey on their policies and practices with regard to anti-bribery measures. Members discussed their responses to the review and these will, as usual, be made available on the OECD website before the end of the year.
  7. With regard to business developments, Members’ export credit 2006 business volumes will, as usual, be made available on the OECD website. Members were advised of the latest business developments in the Berne Union.

XCRED Secretariat
November 2007


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