Udział Skarbu Państwa w spółkach węglowych
Funding from ECA supports national export of goods and services by providing foreign customers with long-term loans of up to 85% of a nuclear project, with very favorable interest rates.
The ECA (Export Credit Agency) is a private or quasi-government institution engaged in export credits. An export credit is a medium or long-term specific purpose credit. It is designed to finance a project or export contract.
According to the information available on the Export Credit Insurance Corporation (Export Credit Insurance Corporation): Agreement on Officially Supported Export Credits (OECD Consensus) sets out the financing of export transactions provided by the Member States of the OECD with loans of repayment period of 2 years or more. The primary purpose of the Consensus is to ensure equal conditions of competition among exporters, based on quality and price of exported goods and services, not on more favorable terms of support offered by governments. Some sectors, in view of the technical and financial specificities, have been regulated by sectoral agreements. Ships, nuclear power plants, civilian aircraft, renewable energy / climate change mitigation / water projects, rail transport and coal-fired plants are covered under additional agreements. The current text of the Agreement is to be found at www.oecd.org/trade/xcred/.
The most favorable conditions for export credits with the support of the state, including the minimum level of the advance and the maximum repayment of the loan, as well as the conditions of insurance, such as minimum insurance rates, have been established as part of the OECD Consensus. The export transactions supported by the OECD member states are also subject to additional requirements related to the protection of environment, combating bribery of public officials in international transactions and initiating actions to balance in low-income countries.
The OECD Consensus OECD defines the maximum amount of financial support as just 85% of export value, it means that a buyer must provide their own contribution of at least 15% of the export value. Detailed information on export credits can be found on the website of the Ministry of Finance.
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