In order to increase climate resilience, export credit agencies (ECAs) are currently finalising a revision of the rules for state support for export credits aimed at adaptation and adaptation, respectively. mitigating the impacts of climate change. EXIMBANKA SR has been actively involved in the ongoing negotiations from the very beginning, with the aim of enforcing rules in the amended regulation that will enable Slovak exporters to obtain more flexible support options. After the finalisation of the revision, EXIMBANKA SR will be able to support medium and long-term transactions with a positive climate aspect on preferential terms (especially with longer maturities and preferential rates) in accordance with the new rules.
Already now, exporters can benefit in eligible* medium and long-term financing or insurance transactions, e.g. from the reduced prepayment requirements (5% of the export contract value, down from the previous 15%) or receive support for your eligible* climate sustainable export contract with a foreign buyer with a maturity of up to 18 years.
(* transaction eligibility is defined by the relevant provisions of the OECD Consensus)
At their November meeting in Paris, the export credit agencies of OECD member countries declared their commitment to reach an agreement on the modernisation of the current framework of rules by March 2023 at the latest. The OECD Consensus is an internationally recognised framework convention setting common standards, rules and minimum financial parameters for state export support transactions. EXIMBANKA SR, as a state export credit agency of an OECD member state, which is a party to the OECD Consensus, consistently applies these rules in its business practice. In the context of the dynamic development of international trade, the current framework of rules needs to be adapted to the new challenges facing exporters. The objective of the ongoing negotiations at the OECD is therefore to adapt the OECD Consensus rules to the current needs of exporters and banks.