council decis decemb applic principl framework agreement project financ field offici support export credit ec council european union regard treati establish european commun articl thereof regard propos commiss commun parti arrang guidelin offici support export credit hereinaft refer quot arrang quot conclud framework oecd arrang subject council decis april extend decis eec amend decis ec particip arrang drawn consolid text compris amend approv revis arrang made applic decis eec particip arrang decid supplement arrang guidelin principl afford flexibl accommod special characterist project financ transact particip arrang flexibl weaken disciplin provid arrang guidelin highli success regul govern intervent field export credit particip arrang agre principl provis offici support project financ transact principl project financ transact oper trial period year arrang continu appli principl state flexibl permit project financ transact particip arrang decid end trial period continu appli principl project financ transact adopt decis articl principl contain framework agreement set annex appli commun articl principl refer articl appli project financ transact trial period articl decis address member state brussel decemb council presid pierret oj oj annex principl framework agreement project financ start point credit chang exist arrang definit flexibl respect interpret descript criteria appendix transpar notif procedur appendix capitalis interest capitalis pre commiss interest subject prior notif procedur capitalis post commiss interest permit trial period monitor review flexibl project financ transact oper trial period year year review flexibl arrang particip experi gain flexibl arrang discontinu end trial period particip agre continu trial period enhanc modif cement flexibl arrang guidelin enhanc modif year particip agre justif trial period continu addit year trial period extend particip follow arrang rule valid export credit secretariat monitor regularli report notif flexibl project financ transact repay repay profil maximum repay term case case basi option flexibl time repay princip repay profil maximum repay term provid averag life loan support exce year month time repay princip repay profil maximum repay term provid averag life loan support exce year month subject date repay princip year start point credit option subject maximum repay term year respect option expect particip agre singl repay princip excess cent regard quot high incom oecd countri quot defin world bank accord articl arrang option appli provid export credit agenc provid offici support basi cofinanc financi institut minor partner pari passu statu signific portion life credit premium entri forc framework agreement premium charg basi current system enhanc make consist averag weight life concept develop work group expert premia relat condit april premia charg consist knaepen packag interest rate repay term includ year normal cirr regim appli repay term excess year year surcharg basi point cirr appli currenc level surcharg review end trial period implement framework agreement enter forc septemb express languag consist arrang issu td consensu document concept averag life loan base time take retir half princip loan concept base sole repay term loan exclud disburs drawdown period purpos framework agreement project financ korea exclud list quot high incom oecd countri quot march appendix descript criteria conform gener descript essenti criteria project financ transact transpar procedur mean ring fenc flexibl arrang accommod project financ transact purpos essenti criteria assist decis specif case afford flexibl approach propos combin gener descript project financ transact essenti indic criteria suggest particip case conform gener descript met essenti criteria wish appli flexibl arrang expect essenti criteria satisfi individu criterion satisfi justif provid flexibl requir prior notif specif transact particip quot explan quot point appendix gener descript financ econom unit lender satisfi cash flow earn econom unit sourc fund loan repaid asset econom unit collater loan essenti criteria financ export transact independ legal econom project compani special purpos compani respect quot greenfield quot invest project gener revenu risk share partner project privat creditworthi public sharehold export creditor taker includ adequ equiti project cash flow suffici entir repay period cover oper cost debt servic fund prioriti deduct project revenu oper cost debt servic sovereign payment guarante regard project inclus govern perform guarante arrang asset base secur proce asset project assign pledg proce account limit recours sponsor privat sector sharehold sponsor project complet illustr criteria hard currenc revenu case local currenc revenu addit secur requir appendix notif procedur particip requir give calendar dai notif issu commit intent flexibl propos framework procedur term quot permit except prior notif explan quot notifi particip expect provid inform requir standard form notif accord annex iv arrang supplement includ inform enhanc descript project confirm conform gener descript essenti criteria includ comment illustr criteria full explan flexibl term requir date repay princip relat start point credit detail determin purpos notif anticip cash flow pattern templat construct period year repay period year total term year repay profil front end back end variabl substanti equal describ cent princip repaid mid point repay period averag life year inform interest rate charg surcharg cirr appli option point annex chosen inform premium surcharg explan pre commiss interest capitalis understood particip seek inform notifi particip rational basi propos support notifi particip free issu commit end dai period notifi particip expect respond question delai whilst recognis constraint commerci confidenti particip provid addit inform cash flow project financi closur