Roman Holiday for Export Credit Chiefs

The leaders of the official Export Credit Agencies (ECAs) from the G7 countries — Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States of America — gathered in Rome on May 16th for a meeting hosted by SACE, the Italian ECA.

Discussions revolved around recent business trends in the ECA industry, new instruments to address challenges faced by national exporters, climate-related policies and initiatives, as well as joint support for Ukraine's reconstruction process.

Recognizing the growing need to secure critical raw materials essential for industrial production and the energy transition, the G7 ECA Heads shared solutions to facilitate supply diversification, in accordance with their respective government mandates.

The critical role played by ECAs in addressing climate-related issues was identified, with a focus on long-term strategies and ongoing initiatives, including the measurement of ECA carbon footprint, ESG analysis, and specific products supporting green projects.

The G7 ECA Heads reiterated their commitment to actively support Ukraine, particularly during the reconstruction phase. They emphasized the importance of collaboration between ECAs, local institutions, and multilateral organizations in strategic sectors such as agri-business, health, infrastructure, and energy.

Recognizing the significance of modernizing the OECD Arrangement rules, the G7 ECA Heads agreed on the swift implementation of the new agreement and pledged to facilitate its entry into force.

In addition, the leaders of G7 ECAs discussed the importance of culture and professional development within their organizations. The meeting also included a group of "Growing Professionals" from the G7 ECAs, who worked on an agenda focused on innovation, exchanging ideas and constructive proposals regarding the future of ECAs in terms of technological innovation and an ideal workplace.

The G7 ECA Heads reaffirmed the significance of ongoing engagement and dialogue to strengthen collaboration within the group. The next annual meeting of the ECA Heads will be held in Japan in 2024, hosted by NEXI.