International cooperation

Arrangement on Officially Supported Export Credits (OECD Arrangement)

The area of providing officially supported export credits and their insurance is governed by international rules. The key document covering this field is the "Arrangement on Officially Supported Export Credits" (commonly referred to as the "Arrangement" or the "Consensus").
The Arrangement applies to export credits with a maturity of at least two years and serves as the main instrument defining the scope of financial rules, such as maximum credit maturity, specific fixed interest rates (CIRR), the method of calculating insurance rates etc.
Some of the rules established by the Arrangement are specific only to certain industries and are described in the sector annexes to the Arrangement (referred to as “Sector Understandings”). After the latest update to the Arrangement in July 2023, four Sector Understandings remain:
  • Climate Change Sector Understanding (CCSU) – a sectoral agreement on the impacts of climate change;
  • Nuclear Sector Understanding (NSU) – a sectoral agreement on nuclear energy;
  • Aircraft Sector Understanding (ASU) – a sectoral agreement on civil aircraft;
  • Ship Sector Understanding (SSU) – a sectoral agreement on ships.
ASU and SSU are now considered independent as they no longer refer to the (contents of the) Arrangement itself.
 
▶ List of the current foreign export credit agencies from OECD (Arrangement) participant countries
With many of the agencies EGAP has established closer business cooperation, which is carried out depending on the specific needs of either export transactions from the Czech Republic insured by EGAP or often involving supplies from these partner countries.
 
 
 

International Union of Credit and Investment Insurers - Berne Union (BU)

Berne Union (BU) is the world's leading association in the field of export credit and investment insurance. BU has over 80 members, including the official government-supported ECAs, multilateral financial institutions, and private credit agencies from around the world.
EGAP has been a member of BU since 1998, as the first ECA from the Central and Eastern Europe. Initially, it benefited primarily from the know-how and experience of longer-established ECAs, but now it participates fully and actively in collaboration with other member entities as well as in the activities of the Berne Union itself.
In addition to its membership in the BU, EGAP also maintains its membership in the Prague Club, which served from the beginning as an incubator for newly established ECAs. Today, as one of the BU’s working committees, Prague Club helps new ECAs launch and develop their activities so that they are prepared for full membership in the BU.