EBF Position Paper on Modernisation 2 of the OECD Export Credit Arrangement

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Brussels, 16 June 2026 – The European Banking Federation (EBF) has submitted a position paper to the OECD Export Credit Consultation.

The consultation brought together representatives of governments participating in the OECD export credits framework, alongside industry and civil society stakeholders, to exchange views on the future development of the OECD Arrangement on Officially Supported Export Credits.

In its contribution, the EBF highlights the importance of maintaining a competitive, transparent and effective multilateral framework for export finance while ensuring that the OECD Arrangement adequately reflects evolving market realities and financing structures.

While the reform that entered into force in July 2023 represented a significant step forward – notably through the extension of repayment terms, the reform of the Commercial Interest Reference Rate (CIRR) and the expansion of the Climate Change Sector Understanding (CCSU) – the rapid transformation of the international export finance landscape calls for further modernisation of the framework.

In particular, the EBF considers that additional clarification and greater consistency in the application of the Arrangement would be beneficial, notably with regard to repayment terms, drawdown periods and project classification.

The EBF position paper puts forward a number of recommendations, including:

• Optimising premiums for green and social projects;
• Providing a permanent and balanced framework for down payments and ECA cover;
• Clarifying the application of the Aircraft Sector Understanding (ASU) to sovereign non-commercial projects;
• Reviewing the TCMB-BAP methodology to ensure its continued relevance, predictability and effectiveness;
• Adapting local cost provisions to evolving supply chains and localisation requirements;
• Improving the clarity and usability of the Climate Change Sector Understanding (CCSU);
• Strengthening the recognition of social projects within the Arrangement.

The EBF remains committed to supporting the ongoing review of the OECD Arrangement and looks forward to continued engagement with policymakers and stakeholders on the future of export finance.

The full EBF position paper is available below.

For more information:

Jacopo Borgognone, Head of Capital Markets – j.borgognone@ebf.eu

Emanuela Manenti, Policy Adviser of Capital Markets – e.manenti@ebf.eu

About the EBF:

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The federation is committed to a thriving European economy that is underpinned by a stable, secure, and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.