The resulting export credit disciplines apply primarily to OECD members; However, several important non-members regularly participate in ECG meetings and participants. In addition, compliance with one of the OECD`s export credit disciplines (de facto and de jure) by non-members on a voluntary basis would be welcome and, in this regard, the OECD Export Credit Secretariat is ready to support non-members in one way or another. The objective of the mission is to develop cooperation between Russian export-oriented companies and banks and Cuban economic and financial associations in order to jointly examine the potential for concluding export contracts and agreements. If you have any questions about export credits with the OECD, please contact the Export Credit Secretariat by e-mail. “EXIM supports the export of U.S. goods and services in two ways. First, if exporters in the United States or their customers do not have access to export financing from private sources, the Bank gives them the necessary tools – buyer financing, export credit insurance and access to working capital. Second, when U.S. exporters face foreign competition supported by other governments, EXIM raises the playing field by providing financing to buyers to obtain or counter financing offered by approximately 85 ECAs around the world. EXIM Bank takes on credit and country risks that the private sector cannot or will not accept.┬áGovernments provide officially supported export credits through export credit agencies (ECAs) to support domestic exporters competing for overseas sales.
Such support may take the form of either “official financial support”, such as direct loans to foreign buyers, refinancing or interest rate support, or in the form of “simple hedging support”, such as export credit insurance or guarantees for loans granted by private financial institutions. ECAs can be public institutions or private companies acting on behalf of governments. Earlier this year, the UK Loan Market Association (LMA) introduced its new form of credit facility agreement for use in export credit-based transactions, known as the export credit agreement. There are different ways of structuring export credit financing, but these are essentially two main themes; the direct credit approach or export financing guarantee. “Finance is the lubricant of trade. Without funding in all its variants (i.e. (short-term commercial loans, short-term loans, medium- and long-term loans for capital goods and project financing) would be difficult to exploit in most international opportunities. “The terms of ECA credit agreements differ from transaction to transaction, but generally have a minimum threshold, with financing generally limited to 85% of the value of the sales contract.
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