Participants make changes to OECD administered export credit Arrangement

(OECD, Paris, 12 February 2009) Following the 105th Participants Meeting which took place on the 21st January 2009, the Participants to the Arrangement on Officially Supported Export Credits have agreed to some modifications to the rules of the Arrangement, i.e.:* A change in the definition of Category I countries enabling a wider range of countries to benefit from 10 year repayment terms instead of a maximum of 8.5 years; * A temporary change to allow a 50% (instead of 35%) share of participation of officially supported export credits in intra-OECD project finance transactions; * A change to allow more flexibility in the repayment profile for officially supported export credits in the renewable energies and water sector.