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On 31 March 2023, the Participants to the Arrangement on Officially Supported Export Credits, OECD guidelines for export credits two years and longer within the OECD, reached an agreement in principle to modernise the Arrangement. The aim of the agreement in principle is to make Arrangement financing flexible enough to better face challenges posed by the economic and financial needs of projects as well as the increasingly competitive landscape, and to create further incentives for supporting a wider range of climate friendly and green transactions.

A final decision and implementation – if all goes well – will be taken at the Participants meeting in May and the entering into force is will be on July 15 this summer.