Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Italy, Japan, Korea, Luxembourg, the Netherlands, Norway, Poland, Portugal, Slovak Republic, Spain, Sweden, Switzerland, the United Kingdom, the United States and the European Commission confirm the application of the Common Approaches to hydro-power projects while acknowledging in their decision that the standard practice is that such projects should in all material respects meet the requirements of the relevant aspects of all the World Bank Group Safeguard Policies.
These countries and the European Commission also recognise the value of the relevant aspects of other international sources of guidance, such as the draft Sustainability Guidelines produced by the International Hydropower Association and the Core Values and Strategic Priorities of the World Commission on Dams Report.
These countries and the European Commission undertake to consider at the time of the review of the OECD Recommendation on Common Approaches on Environment and Officially Supported Export Credits, due to take place in 2006, the extent to which it may need to be complemented with reference to other international sources of guidance.
The above statement does not pre-empt the conclusions of the ECG review of the OECD Recommendations on Common Approaches on Export Credits and Environment that will take place in 2006.
Paris, 15th November 2005