Commission Delegated Regulation (EU) 2023/2738 of 28 September 2023 amending Annex II to Regulation (EU) No 1233/2011 of the European Parliament and of the Council on the application of certain guidelines in the field of officially supported export credits

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EU) No 1233/2011 of the European Parliament and of the Council of 16 November 2011 on the application of certain guidelines in the field of officially supported export credits and repealing Council Decisions 2001/76/EC and 2001/77/EC (1), and in particular Article 2 thereof,

Whereas:

(1) Article 1 of Regulation (EU) No 1233/2011 lays down that the guidelines contained in the Arrangement on Officially Supported Export Credits (‘the Arrangement’) shall apply in the Union, the text of the Arrangement being contained in Annex II to that Regulation.

(2) The Participants to the Arrangement have agreed upon a number of wide-ranging changes to the Arrangement, including its Sector Understandings, as a result of the modernisation of the Arrangement carried concluded in July 2023. Therefore, the agreed new version of the Arrangement is substantially different from the currently applicable version of the Arrangement contained in Annex II to Regulation (EU) No 1233/2011.

(3) The main changes to the Arrangement and its various Sectors Understanding adopted by the Participants in July 2023 are: amendments of the financial terms and conditions of the Arrangement, including in particular extension of maximum repayment terms for climate-friendly and green transactions as well as for most other projects, reduction of minimum premium rates for longer repayment periods and introduction of additional flexibilities regarding the schedule of repayments over the life of the financial package. Further, the scope of green or climate-friendly projects eligible for the longer repayment terms under the Climate Change Sector Understanding, which forms a part of the Arrangement, has been expanded to include projects related to environmentally sustainable energy production; CO2 capture, storage, and transportation; transmission, distribution and storage of energy; clean hydrogen and ammonia; low emissions manufacturing; zero and low-emission transport; and clean energy minerals and ores.

(4) On 15 July 2023, the OECD published a revised version of the Arrangement which takes into account all amendments adopted by its Participants in July 2023. It is appropriate and necessary to incorporate those amendments into Union legislation.

(5) Regulation (EU) No 1233/2011 should therefore be amended accordingly,

HAS ADOPTED THIS REGULATION:

Article 1

Annex II to Regulation (EU) No 1233/2011 is replaced by the text in the Annex to this Regulation.

Article 2

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 28 September 2023.

For the Commission The President Ursula VON DER LEYEN

(1) OJ L 326, 8.12.2011, p. 45.