Export credits

Special Session of the Participants' Relevant Experts on Renewable Energies and Water Projects. 23-24 June 2005

 

Special Session of the Participants' Relevant Experts on Renewable Energies and Water Projects. 23-24 June 2005

The experts of the Participants to the Arrangement on Officially Supported Export Credits met on 23-24 June at the OECD, Paris to discuss international guidelines for assessing the environmental impact of hydropower projects in the context of the Participants’ recent Agreement to provide special terms and conditions for the financing of renewable energies and water projects. Under the Agreement on Renewable Energies and Water projects, maximum repayment terms are extended to 15 years - as opposed to the 12-year maximum for conventional power plant and 8.5/10 years maximum for water projects.

In their discussions, the experts exchanged views on various guidelines and tools, including the European Bank for Reconstruction and Development (EBRD) Environmental Guidelines, the World Bank Operational and Safeguard Policies and the World Commission on Dams Report. In their discussions, the experts benefited from the presence of representatives from the EBRD, the World Bank and the United Nations Environment Programme and from written submissions from some Non Governmental Organisations, The International Union for the Conservation of Nature and Natural Resources (the World Conservation Union) and other interested stakeholders.

The discussions, which are ongoing, will contribute to the deliberations of the Participants to the Arrangement on whether or not they consider that the OECD Recommendation on Export Credits and the Environment needs to be augmented for large hydropower projects. In the meantime, hydropower projects are not yet eligible for the extended 15-year repayment terms.

June 2005