A wider range of countries may benefit from a ten-year repayment terms

The OECD Arrangement sets forth the most generous export credit terms and conditions that may be officially supported. In Finland the Arrangement applies to export credits guaranteed by Finnvera and/or supported by interest rate equalisation scheme by the Finnish Export Credit. The Arrangement, after a modification in the beginning of 2009, now enables a wider range of countries (altogether over 50 export markets) to benefit from ten-year repayment terms instead of maximum of 8,5 years. For high income OECD countries, the normal maximum repayment term is 5 year, with a possibility to extend the term up to 8,5 years.

A repayment period of up to 10 years can now be granted for the following new countries

American Samoa, Andorra, Antigua and Barbuda, Aruba, Bahamas, Bahrain, Barbados, Bermuda, Brunei, Cayman Islands, Channel Islands, Chile, Chinese Taipei, Croatia, Cyprus, Equatorial Guinea, Estonia, Faroe Islands, French Polynesia, Greenland, Guam, Hong Kong, Isle of Man, Israel, Kuwait, Latvia, Libya, Liechtenstein, Lithuania, Macao, Malta, Mexico, Monaco, Netherlands Antilles, New Caledonia, Northern Mariana Islands, Oman, Palau, Poland, Puerto Rico, Qatar, Saint Kitts and Nevis, San Marino, Saudi Arabia, Seychelles, Singapore, Slovenia, Trididad and Tobago, U.S. Virgin Islands, United Arab Emirates

In addition to these countries, repayment period of up to 10 years is also available to developing countries.

Furthermore, the Arrangement Project Finance terms as well as the terms for renewable energies and water projects were modified. As regards project finance transactions in high income OECD countries, the maximum repayment term was raised to 14 years for a limited period of one year. The officially supported export credits must comprise less than 50% of the total syndication. As regards the renewable energies and water sector, more flexibility in the repayment profile was allowed until the end of June 2009.