SERV GLOSSARY


Arrangement on Officially Supported Export Credits / OECD Export Credit Group

The Arrangement on Officially Supported Export Credits is an agreement among the OECD member countries seeking to foster a level playing field in global competition. The agreement contains minimum standards for terms and conditions of payment, credit periods and premium calculations for officially supported export credits with terms of more than two years. The standards are constantly being updated by the OECD Arrangement Group.

Members of the OECD Export Credit Group agree to principles or recommendations for combating corruption in international commerce, granting sustainable loans for countries at a high risk of debt distress and ensuring that exports meet certain environmental and human rights standards.

As a member of the Swiss delegation led by the Swiss State Secretariat for Economic Affairs (SECO), SERV supports the work of the OECD Arrangement Group and the OECD Export Credit Group.