Agreement On Officially Supported Export Credits

The SSU provides for specific disciplines that can be applied to officially supported export credits in connection with the export of ships, ship conversions and air cushion vehicles. The SSU was initially agreed in 1969 as a stand-along agreement; the current version of the SSU is set out in Annex I to the Agreement. SSU participants are Australia, the European Union, Japan, Korea, New Zealand and Norway. The SSU is managed by the OECD Working Party on Shipbuilding (WP6). The Coal-Fired Electricity Generation Sector Understanding (CFSU) (see Annex VI of the Arrangement) was implemented in February 2016. This Annex provides for stricter conditions for the granting of publicly supported export credits for coal-fired electricity generation projects. This Annex aims to encourage exporters and buyers of coal-fired power plants to switch from low-efficiency to high-efficiency technologies by limiting export credit support for coal-fired power plants. The Nuclear Sector Agreement (NSU) (see Annex II to the Convention) was first added in 1984 as an Annex to the Convention and was last updated in July 2009. It provides for more flexible conditions for the granting of publicly supported export credits to nuclear power plants.

If you have any questions about export credits with the OECD, please contact the Export Credit Secretariat by e-mail. Some of the rules set out in the Agreement are sector-specific and are set out in the Sectoral Annexes to the Agreement („Sectoral Agreements“). There are currently six sectoral agreements covering export credits in the area (I) ships, (II) nuclear power plants, (III) civil aircraft, (IV) renewable energy, climate change and adaptation, as well as water projects, (v) railway infrastructure and (VI) coal-fired electricity projects. Ship Sector Understanding and Aircraft Sector Understandings are special because their participants are different from those of the General Agreement, which is not the case for the other sectoral substates. The OECD is also a forum for the maintenance, development and monitoring of financial disciplines for export credits contained in the Agreement on Officially Supported Export Credits (the „Agreement“).