Considerations on COM(2024)440 -

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dossier COM(2024)440 - .
document COM(2024)440
date October  7, 2024
 
(1) The guidelines contained in the Arrangement on Officially Supported Export Credits (the ‘Arrangement’) are transposed, and hence made legally binding in the Union by virtue of Regulation (EU) No 1233/2011 of the European Parliament and of the Council4.

(2) The envisaged decision on an amendment to Article 11 of the Arrangement enhancing the flexibility regarding minimum down payment and maximum official support requirements in the Arrangement is also in line with the agenda of the modernization of the Arrangement, which entered into force on 15 July 2023, improving European exporters’ competitiveness with regard to non-OECD countries.

(3) The flexibility would help finance projects in a competitive financial landscape while being framed in a ring-fenced manner to fill specific financial gaps and to avoid market distortions.

(4) The flexibility would also encompass “green” projects that are laid down in a specific sector understanding (Sector Understanding on Export Credits for Climate Change) and it would focus on social and transformational projects with a development impact.

(5) It is appropriate to establish the position to be taken on the Union's behalf regarding the down payment and maximum official support requirements, as the envisaged decision of the Participants to the Arrangement will be binding on the Union and capable of decisively influencing the content of Union law, by virtue of Article 2 of Regulation (EU) No 1233/2011.