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Joint Business Position: Export Credits and Covid-19 x
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Publication date: 22 July 2020
EBF joins BIAC (Business at OECD) and ICC (International Chamber of Commerce) in a business position on Covid-19 and Export Credits.
Summary of key policy recommendations
A) General considerations and short-term liquidity support
- Improving access to liquidity
- Evaluating credit impact
- Broadening financial products offering
- Enhancing re-insurance agreements with other ECA’s
- Restructuring the existing loan portfolio
B) Actions specifically related to the OECD Arrangement
- Increasing the current local costs limitation to 50% of the total scope
- Greater flexibility for ECAs in covering the minimum 15% down payment
- Allow market-reflective repayments to better align with the nature of different projects
- Increase the maximum repayment term to 18 years and cease to distinguish between different sectors
- Revise the premiums applied to private borrowers in high-income OECD countries
- Introduce an easy to define, transparent & predictable CIRR to provide a level playing field
- Temporary suspension of country risk category reviews until at least 31 December
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