Following the agreed changes to the OECD Arrangement on Officially Supported Export Credits, applicable as of 20 April 2021, Credendo – Export Credit Agency will be able to support local costs worth up to 40% of the export contract value for Category I countries (i.e. high income OECD countries) and up to 50% for Category II countries (i.e. all other countries).
This two-tier system will provide increased flexibility in the support of locally sourced goods and services. Previously, local cost provisions were limited to maximum 30% of the export contract value.
You can address any questions regarding these recent modifications to our Business Development Specialists at Solutions@credendo.com.