Evaluation of the enviromental impact of exports and investment in the country of destination
EXIMBANKA SR has fully implemented the OECD RECOMMENDATION OF THE COUNCIL ON COMMON APPROACHES FOR OFFICIALLY SUPPORTED EXPORT CREDITS AND ENVIRONMENTAL AND SOCIAL DUE DILIGENCE (THE “COMMON APPROACHES”) into the internal guidelines by Bank Board’s Guideline No. 12/2012 dated 11 October 2012 ”Procedure for Evaluation of the Impact of export on the environment and social impacts in the country of the destination”. EXIMBANKA SR, with regards to the insurance of ”C”, ”D”, and ”I” products and the relevant banking products, requires an evaluation of the impact of export upon the environment and social impacts in the country of destination of the export. The evaluation applies to exports with a maturity period longer than two years and also to investments abroad where the value of the export accounts for at least SKK10 million, SDR (Special Drawing Rights) included, or its equivalent in any other currency. All the export transactions, which are in the list of the "Sensitive Areas" (based on the ESPOO agreement), are also under the screening process of evaluation. The evaluation commences with the submission of a questionnaire, which constitutes an appendix to the application for every single insurance. The exporter also completes the form when a commercial bank requests the insurance. EXIMBANKA SR, after evaluation of the seriousness of the environmental impact, will classify the export into one of three categories (A, B, C) and will determine whether the export is to be evaluated by an expert’s opinion of the impact of the export on the environment.