Export credit agencies (ECAs) are major players in international trade and investment, providing state-backing for large-scale business transactions that span the globe. ECAs, however, suffer from serious deficiencies, such as a lack of transparency and monitoring procedures, problems involving corruption and accountability, and most importantly, the detrimental character of many ECA-supported projects to the environment and social fabric of developing countries. A global ECA reform campaign has been actively raising the need to ensure that the activities of ECAs are consistent with and subservient to the goals and policies of sustainable development.
This report attempt to shed light on the activities of ECAs and to clarify the practice of export credits, including their significance for the multilateral trading system. The report places export credits in the context of the World Trade Organization (WTO), its Subsidies Agreement, and the DOHA Development Agenda. Some concluding notes include issues of special concern to developing countries regardless of ECA practices.