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OECD common approaches


The OECD recognized that it can promote the coherence between the international environmental, climate change, social and human rights policies of the export credits and their commitments of relevant international agreements and conventions, thereby contributing to the sustainable development and the reduction of adverse environmental impacts through the export credit policy.

The OECD Common Approaches was developed and adopted in 2003. It established a set of rules for the environmental risk assessment of officially supported export financing. The document contains common practices for identifying and mitigating the environmental impact of projects. In addition to the impact on the environment, there has been an increasing emphasis on assessing social impacts. The OECD has expanded its existing approach with elements on social impact assessment and finalized it in 2012. In 2016, it has been revised which is the current version in use. The OECD Common Approaches aims to develop procedures for assessing the environmental and social impacts of officially supported export financing, to prevent and mitigate the adverse environmental and social impacts of projects, and to create the overall process of financial risk assessment for a supported project.

Hungary is being a full member of the ECG decision-making process. In 2001 the country formally declared that it accepts and will implement the common approaches. Accordingly, the institutions dealing with export credit financing and insuring had to integrate the environmental monitoring system, which operates according to the OECD Recommendation. The Hungarian legislations related to EXIM contain the condition according to which the environmental screening must be carried out.

Related Legislation and Regulatory Documents:

 

  • Government Decree 85/1998. (V. 6.) on the Interest Equalisation System of the Hungarian Export-Import Bank
  • Government Decree 435/2012. (XII. 29.) on Guarantees Assumed by the Hungarian Export-Import Bank with a State Payment Guarantee and on the Conditions and Detailed Regulations of the Replacement and Interest Costs of Foreign Currency and Interest Swap Transactions
  • Government Decree 312/2001. (XII. 28.) on the terms of the insurance of non-marketable risks by the Hungarian Export Credit Insurance Plc. with a government payment guarantee provided from the central budget
  • Act XLII of 1994 on the Hungarian Export-Import Bank PLC and the Hungarian Export Credit Insurance PLC
  • TAD/ECG(2016)3 recommendation of the council on common approaches for officially supported export credits and environmental and social due diligence (the “common approaches”)
  • Government decree 232/2003 on Tied Aid Loans Disbursed by Eximbank

Eximbank Zrt.

Cégjegyzékszáma:
01-10-042594, bejegyezve a Fővárosi Törvényszék, mint Cégbíróság által

Adószám:
10949638-2-44

Bankszámlaszám:
14800016-06000008-11111128
S.W.I.F.T. kód: HEXI HU HB 

MEHIB Zrt.

Cégjegyzékszáma:
01-10-042595, bejegyezve a Fővárosi Törvényszék, mint Cégbíróság által

Adószám:
10949621-2-44

Bankszámlaszám:
10918001-00000001-04530003

1065 Budapest, Nagymező u. 46-48. Tel.: +36 (1) 374 9100, +36 (1) 374 9200, Fax: +36 (1) 269 1198 E-mail: exim@exim.hu © 2019 EXIM Minden jog fenntartva

Eximbank Plc.

Bank account number: 
14800016-06000008-11111128
S.W.I.F.T. kód: HEXI HU HB 

MEHIB Plc.

Bank account number: 
10918001-00000001-04530003

H-1065 Budapest, Nagymező street 46-48. Phone: +36 1 374 9100, +36 1 374 9200 Fax: +36 1 269 4476, +36 1 269 1198 E-mail: exim@exim.hu © 2019 EXIM All rights reserved

Eximbank Plc.

Bank account number: 
14800016-06000008-11111128
S.W.I.F.T. kód: HEXI HU HB 

MEHIB Plc.

Bank account number: 
10918001-00000001-04530003

H-1065 Budapest, Nagymező street 46-48. Phone: +36 1 374 9100, +36 1 374 9200 Fax: +36 1 269 4476, +36 1 269 1198 E-mail: exim@exim.hu © 2019 EXIM All rights reserved

Dear Customers,

We deem it important to provide continuous professional support to you also in the current pandemic situation. Conditions negatively effecting undertakings, economic slowdowns or declines always highlight the role of state-backed financial institutions, such as that of EXIM. This countercyclical role - even in the case of a longer-lasting pandemic situation - is further strengthening.

Based on our 25-year export credit, financing and insurance expertise and our in- depth knowledge of international markets, we would like to assure you of the unchanged stability of our operation and partnership.

Already upon the declaration of the epidemiological emergency[1], the funding experts of EXIM – in close co-operation with the Ministry of Foreign Affairs and Trade – started to identify and elaborate the mitigating measures and programmes whereby we can help Hungarian enterprises return to their foreign markets immediately after the removal of the restrictions.

Furthermore, we inform you that under Government Decree of 18 March 2020 on immediate measures necessary for alleviating the effects of the coronavirus pandemic on the national economy[2], the Hungarian government provides for the extension of the capital, interest and fee payment obligations of debtors falling within the scope of the Decree arising from credit, loan or financial lease contracts existing at 24:00 on 18 March 2020  until 31 December 2020 (payment moratorium). The government also stipulates that any contract expiring within the period of the state of danger shall be extended until 31 December 2020.

Thus, we will continue our work in view of the Governmental Decree aimed at alleviating the effects of the pandemic on the total Hungarian economy and we will handle the implementation of the moratorium imposed on contracts falling under the scope of the Decree in the case of all our customers concerned. Following the official publication of additional legislation laying down the detailed rules of the provisions of the Government Decree, we will provide you with detailed information. Until then we would like to ask you for your kind patience.

It is important to emphasize that we are entirely at your disposal also in the present situation in case of fund requests or liquidity difficulties since the finance solutions of EXIM are also suitable for addressing the non-marketable risks.

Please contact us if you have any questions or requests.

info@exim.hu

[1] Government Decree 40/2020 (11 March 2020)

[2] Government Decree 47/2020 (18  March 2020)