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OECD Export Credit Group adopts principles and guidelines for officially supported loans to Low Income Countries

The OECD's Working Party on Export Credits and Credit Guarantees (ECG) has agreed common principles and guidelines for the provision of official support for loans to low income countries. These principles and guidelines are designed to ensure that officially supported export credits to public buyers in Low Income Countries (a list of these countries is available from Euler Hermes), given either as direct credits or as export credit guarantees, are in line with sustainable development objectives of these countries. Thus, the OECD's Export Credit Group supports the efforts of the IMF and the World Bank to avoid a renewed build-up of debt following the debt relief provided under existing multilateral initiatives (e.g. HIPC).

In particular with regard to export credits the aim is to ensure that limits for commercial credits set by the IMF and the World Bank are respected and the Debt Sustainability Analyses of the IMF and the World Bank are taken into account. Besides, the Principles and Guidelines set standards for the exchange of information on officially supported export credits between the national Export Credit Agencies and the IMF and the World Bank via the OECD Secretariat.

OECD document
"PRINCIPLES AND GUIDELINES TO PROMOTE SUSTAINABLE LENDING PRACTICES IN THE PROVISION OF OFFICIAL EXPORT CREDITS TO LOW INCOME COUNTRIES"

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