Export transactions to low-income countries are subject to additional information requirements and verification measures. Here you can find an overview of what your obligations are as an exporter, as well as how SERV checks projects in developing countries.
For deliveries worth more than 10 million Swiss francs to low-income countries, the exporter must provide details of the project’s impact on the destination country in terms of societal considerations, regional development effects and local working conditions. This extra information helps SERV to assess the potential development policy implications in the importing country.
SERV only insures export transactions to low-income countries if the projects contribute to the social and economic development of those countries. According to the OECD Recommendation of the Council on Sustainable Lending Practices and Officially Supported Export Credits, projects with credit periods of more than 12 months, as well as deliveries to public buyers, are additionally subject to the requirements of the International Monetary Fund (IMF) and the World Bank. This is intended to prevent over-indebtedness of the destination country. When checking your application, SERV therefore communicates with both of these institutions to ensure that the insured transaction is in line with the World Bank and IMF programmes.