Evaluating the environmental impact of the export in the country of destination of the export
On the basis of EXIMBANKA SR SR Board Directive no. 4/2016 of 14.07.2016 “Procedure for assessing the environmental impact of exports in the country of destination”, which is in line with the OECD Council Recommendation on Common Practices on Officially Supported Export Credits and Environmental and Social Due Diligence, EXIMBANKA SR in the insurance of products “C”, “D” and “I” and in the financing of credits requires an assessment of the impact of the export on the environment in the country of destination of the export. The evaluation concerns exports with a repayment period of more than 2 years and also investments abroad, where the value of exports is at least EUR 10 million. SDR (Special Drawing Rights), including or its equivalent in another currency, as well as all projects located on or near the list of sensitive sectors where the share is less than 10 million USD, and all projects located on or near the list of sensitive sectors where the share is less than 10 million USD. SDR. The evaluation starts with the submission of a questionnaire, which is an attachment to the insurance/loan application. The questionnaire is to be filled in by the exporter even if the insurance is requested by a commercial bank. EXIMBANKA SR, after assessing the severity of the impact of the export on the environment, shall classify the export into one of the three categories (A, B, C) and shall decide whether the export will be assessed by an expert opinion on the impact of the export on the environment.
If the export is classified in category A (an export for which significant negative environmental impacts can be expected and whose impacts extend beyond the area in which the export will take place) an assessment must be made in accordance with the environmental rules of the World Bank or other international financial institutions or EU rules, as well as the rules in force in the country of final destination of the export, if available.
EXIMBANKA SR may conclude an insurance contract only if the assessment confirms that the environmental impact of the export meets the ecological limits and criteria for the given industry/sector.
If the export is classified in category B (an export where the negative environmental impact is less significant than for Category A exports, is locally limited and is not irremovable) The Environmental Impact Assessment will contain information on the negative environmental impacts of the export to a lesser extent. For subcontracts for an international project, an assessment prepared for the main contractor may be used.