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Best Practices / Guidelines
Export Credits: Enhanced peer review process.
ECG Members agree to apply principles to obtain reasonable assurances that their commercial lending decisions are not likely to contribute to debt distress in relation to any official export credit with a repayment term of one year or more.
The 2008 version of the Arrangement text contains new provisions applicable to local costs, Ships and Aircraft sectors; this new Arrangement text came into effect on 1st January 2008.
This Sector Understanding on Export Credits for Ships which came into force on 8 October 2007; it replaces the previous version of that Understanding, in force since 2002.
The Participants to that Sector Understanding decided in 2005 to review its provisions and Brazil joined these discussions. A revised Sector Understanding on Export Credits for Civil Aircraft came into force on 1 July 2007.
The 2007 version of the Arrangement text contains new provisions applicable to the Aircraft sector, to repayment profiles, to project finance-type transactions and to projects in the renewable energy and water sectors; this new Arrangement text came into effect on 1st July 2007.
Members of the OECD Working Party on Export Credits and Credit Guarantees (ECG) recognise the importance of the World Bank and International Monetary Fund Debt Sustainability Framework for Low-Income Countries (DSF).
A new OECD Recommendation has been adopted on 14 December 2006 by the OECD Council to deter bribery in officially supported export credits.
The changes to the prevailing text of the Arrangement are recorded in the Unclassified document ; these changes concern in the main Article 24 e) and Annex VII.
Arrangement on Officially Supported Export Credits This document contains the prevailing Arrangement text, i.e. TD/PG(2005)38/FINAL.