The Participants to the Arrangement on Officially Supported Export Credits have agreed to review the Sector Understanding in a 2 stage approach. The Participants recognise the opportunity and determination to undertake such a review in the second stage of negotiations that addresses the challenges related to climate change. The Participants recognise that this would require substantial efforts to include further technologies as well as measures aimed at smaller projects and SME exporters in this field.
Our considerations would include enhanced energy efficiency and low carbon projects together with financial terms, such as local costs, that also adequately support smaller projects.
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