Trade

Minimum Interest Rates

 


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Standard Arrangement Transactions

The Arrangement on Officially Supported Export Credits (the “Arrangement”) stipulates that minimum interest rates shall apply to official financing support for export credits. Such minimum interest rates are the relevant Commercial Interest Reference Rates (CIRRs), which have been established for each currency of the Participants to the Arrangement and which are set on the 15th of each month. For more information, please refer to the prevailing CIRRs for standard Arrangement transactions:

 

Sector Understandings

In addition, three Sector Understandings, which are annexed to the Arrangement, stipulate that minimum interest rates shall apply to official financing support for export credits covered by these Understandings:  Nuclear Power Plants (Annex II), Civil Aircraft (Annex III) and Renewable Energy, Climate Change Mitigation and Water Projects (Annex IV). Such minimum interest rates have been established for various currencies of the Participants to the Arrangement and are set on the 15th of each month. For more information, please refer to the prevailing minimum interest rates for transactions falling within the scope of the three Understandings:

 

Nuclear Power Plants (Annex II)

 

Civil Aircraft (Annex III)

 

Renewable Energy, Climate Change Mitigation and Water Projects (Annex IV)

 

Differentiated Discount Rates

Lastly, the Arrangement also stipulates the methodology for calculating the Concessionality Level for tied aid. For this calculation, the discount rate used is the Differentiated Discount Rate (DDR), which is available in any currency for which a CIRR has been established for at least 6 months and which is subject to an annual change on 15 January each year. For more information, please refer to the prevailing DDRs:

 

Historical Rates