If applicants wish to export shipments worth over CHF 10 million to low-income developing countries, they must answer questions about the export’s impact on employment, working conditions and social welfare in the project country. This additional information provides a better understanding of the developmental consequences for the importing country.
SERV only insures exports to extremely low-income countries if they further the countries’ social and economic development. SERV bases its assessment on the OECD’S Principles and Guidelines to Promote Sustainable Lending. These rules are binding for deliveries to public-sector buyers in low-income countries and for credit periods of twelve months or more, cf. GlossaryCover practice. They require projects to comply with restrictions imposed by the International Monetary Fund (IMF) and World Bank. In the review process, SERV shares information with the World Bank and the IMF to ensure that insured transactions conform to the agreed World Bank programmes. The OECD guidelines should prevent low-income countries from taking out too many loans and, as a result, becoming excessively indebted