Approving the proposal of amendments to the Principles and Guidelines for the Support of Sustainable Procedures and Provision of Credits in the Area of Export Credits Supported by State in Low-income Countries

During November meeting of the OECD Working Group on Export Credits and Guarantees (ECG) working under the management of the Director of the International Relations Department of EXIMBANKA SR, the proposal for the amendments to the Principles and Guidelines to promote sustainable lending practices in the provision of official export credits to Low-income Countries was approved. The amendments adopted also include the result of two-year discussions, at which in addition to the countries involved also the representatives of the World Bank and of the International Monetary Fund. The amendment to the existing rules for providing the   officially supported export credits to low-income countries was initiated with the aim to reflect better the changed conditions in these countries and react to the reforms recently made by the World Bank and the International Monetary Fund.

The amendments will be also reflected in the new scheme for Concessional loans introduced by the beginning of the year by EXIMBANKA SR in cooperation with the Ministry of Finance and the Ministry of Foreign and European Affairs of the SR and which is determined for the Slovak exporters with contracts in countries included within the categorisation by the World Bank as low income countries (LIC – low income countries).