101st Participants Meeting (7 November 2007)
The Participants to the Arrangement on Officially Supported Export Credits met in Paris at the OECD on 7 November 2007, for the 101st time; they welcomed for the third time representatives of Brazil, China, India, Israel and South Africa as ad hoc observers to their Meeting, at which South Africa presented the activities of the Export Credit Insurance Corporation ECIC, its export credits insurance agency.
The Participants considered reports on the functioning of the Export Credit Arrangement, in particular the implementation of the disciplines applicable to renewable energy and water projects as well as the interest rates disciplines; they also discussed the provisions relating to tied aid and to projects in the energy sector.
Finally, the Participants agreed to modernise some provisions in the Arrangement to allow for more flexibility in the financing of local expenditures (i.e. equipment and services locally sourced in buyer countries); the current ceiling will be increased with effect from 1 January 2008, for a three-year trial period.
The Participants will meet again in the week of 21 April 2008.