OECD: THE ARRANGEMENT FOR OFFICIALLY SUPPORTED EXPORT CREDITS
Paris, 06 July 2017
RENEWABLE ENERGY, CLIMATE CHANGE MITIGATION AND ADAPTATION, AND WATER PROJECTS
Changes in Minimum Commercial Interest Reference Rates (CIRRs)
1
The Arrangement for Officially Supported Export Credits (the Arrangement) stipulates that minimum interest rates shall
apply to official financing support for export credits. The minimum interest rates are the relevant Commercial Interest
Reference Rates (CIRRs), according to the currencies being used.
2
A CIRR is fixed for some currencies by the Participants to the Arrangement. CIRRs are set on the 15th of each month.
CIRRs for the period from 15 July until 14 August 2017 are listed below (the previous month’s rates are listed in the third
and fourth columns).
RENEWABLE ENERGY, CLIMATE CHANGE MITIGATION AND ADAPTATION, AND WATER PROJECTS
Currency of country
Changes in Minimum Commercial Interest Reference Rates (CIRRs)
Repayment Terms New Large
All Other
New Large
Hydro-power
Contracts
Hydro-power
Projects1
Projects1
15-07-2017
Australian Dollar
Canadian Dollar
Czech Koruna
Danish Krone
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
to
14-08-2017
15-06-2017
All Other
Contracts
to
14-07-2017
CIRR according to article 20 of the Arrangement
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
CIRR according to article 20 of the Arrangement
2.27
2.27
2.21
2.55
2.47
2.51
2.62
2.55
2.62
2.62
2.55
2.62
2.75
2.62
2.77
2.80
2.62
2.82
2.80
2.70
2.82
CIRR according to article 20 of the Arrangement
1.17
1.17
1.21
1.77
1.37
1.78
1.89
1.77
1.86
1.89
1.77
1.86
2.09
1.89
2.07
2.14
1.89
2.12
2.14
2.04
2.12
CIRR according to article 20 of the Arrangement
1.16
1.16
1.06
1.40
1.36
1.32
1.65
1.40
1.55
1.65
1.40
1.55
1.82
1.65
1.75
1.87
1.65
1.80
1.87
1.77
1.80
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
2.21
2.41
2.51
2.51
2.62
2.62
2.72
1.21
1.41
1.78
1.78
1.86
1.86
2.02
1.06
1.26
1.32
1.32
1.55
1.55
1.70
____________________________________________________________
General Inquiries : Tel. (33) 1 45 24 89 11 - Fax. (33) 1 44 30 61 58
E-mail: [email protected]
1
OECD: THE ARRANGEMENT FOR OFFICIALLY SUPPORTED EXPORT CREDITS
RENEWABLE ENERGY, CLIMATE CHANGE MITIGATION AND ADAPTATION, AND WATER PROJECTS
Currency of country
Changes in Minimum Commercial Interest Reference Rates (CIRRs)
Repayment Terms New Large
All Other
New Large
Hydro-power
Contracts
Hydro-power
Projects1
Projects1
15-07-2017
Japanese Yen
Norwegian Krone
Swedish Krona
Swiss Franc
UK Pound
US Dollar
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
to
14-08-2017
15-06-2017
All Other
Contracts
to
14-07-2017
CIRR according to article 20 of the Arrangement
0.95
0.95
0.92
1.19
1.15
1.17
1.22
1.19
1.21
1.22
1.19
1.21
1.30
1.22
1.29
1.35
1.22
1.34
1.35
1.25
1.34
CIRR according to article 20 of the Arrangement
2.31
2.31
2.21
2.63
2.51
2.51
2.74
2.63
2.62
2.74
2.63
2.62
2.91
2.74
2.77
2.96
2.74
2.82
2.96
2.86
2.82
CIRR according to article 20 of the Arrangement
1.08
1.08
1.16
1.47
1.28
1.56
1.47
1.47
1.56
1.47
1.47
1.56
1.71
1.47
1.81
1.76
1.47
1.86
1.76
1.66
1.86
CIRR according to article 20 of the Arrangement
0.73
0.73
0.59
1.03
0.93
0.89
1.11
1.03
0.98
1.11
1.03
0.98
1.23
1.11
1.10
1.28
1.11
1.15
1.28
1.18
1.15
CIRR according to article 20 of the Arrangement
1.70
1.70
1.71
2.03
1.90
2.06
2.16
2.03
2.19
2.16
2.03
2.19
2.33
2.16
2.37
2.38
2.16
2.42
2.38
2.28
2.42
CIRR according to article 20 of the Arrangement
3.01
3.01
3.11
3.27
3.21
3.38
3.33
3.27
3.44
3.33
3.27
3.44
3.44
3.33
3.55
3.49
3.33
3.60
3.49
3.39
3.60
0.92
1.12
1.17
1.17
1.21
1.21
1.24
2.21
2.41
2.51
2.51
2.62
2.62
2.72
1.16
1.36
1.56
1.56
1.56
1.56
1.76
0.59
0.79
0.89
0.89
0.98
0.98
1.05
1.71
1.91
2.06
2.06
2.19
2.19
2.32
3.11
3.31
3.38
3.38
3.44
3.44
3.50
____________________________________________________________
General Inquiries : Tel. (33) 1 45 24 89 11 - Fax. (33) 1 44 30 61 58
E-mail: [email protected]
2
OECD: THE ARRANGEMENT FOR OFFICIALLY SUPPORTED EXPORT CREDITS
RENEWABLE ENERGY, CLIMATE CHANGE MITIGATION AND ADAPTATION, AND WATER PROJECTS
Currency of country
Changes in Minimum Commercial Interest Reference Rates (CIRRs)
Repayment Terms New Large
All Other
New Large
Hydro-power
Contracts
Hydro-power
Projects1
Projects1
15-07-2017
Euro
< 11 years
≥ 11 to ≤ 12 years
>12 to ≤ 13 years
>13 to ≤ 14 years
>14 to ≤ 15 years
>15 to ≤ 16 years
>16 to ≤ 17 years
>17 to ≤ 18 years
to
14-08-2017
15-06-2017
All Other
Contracts
to
14-07-2017
CIRR according to article 20 of the Arrangement
0.99
0.99
1.01
1.33
1.19
1.37
1.46
1.33
1.50
1.46
1.33
1.50
1.63
1.46
1.68
1.68
1.46
1.73
1.68
1.58
1.73
1.01
1.21
1.37
1.37
1.50
1.50
1.63
N.B. A premium of 0.2 per cent is to be added to the CIRRs when fixing at bid. Interest rates may not be fixed for longer than
120 days.
1 As per the definition of the International Commission on Large Dams (ICOLD). ICOLD defines a large dam as a dam with a
height of 15m or more from the foundation. Dams that are between 5 and 15m high and have a reservoir volume of
more than 3 million m3 are also classified as large dams.
Organisation for Economic Co-operation and Development, 2 rue André-Pascal, 75775 Paris Cedex 16, France
Tel. (33) 1 45 24 82 00 - Fax. (33) 1 45 24 85 00 Internet: www.oecd.org
____________________________________________________________
General Inquiries : Tel. (33) 1 45 24 89 11 - Fax. (33) 1 44 30 61 58
E-mail: [email protected]
3