Sullivan
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Mark Norris was quoted in the article "CIRR Reform: A Roadblock to Modernisation?" published by TXF News [sub. req'd].

As part of the OECD’s latest package of updates to the Arrangement on Export Credits, a new methodology for the calculation of Commercial Interest Reference Rates (CIRR) has been published. The article looks at whether the new terms will deliver the promised benefits for exporters.

Whilst welcoming the changes to the OECD Arrangement, in particular those which provide incentives for green and environmental projects, Mark argues that more needs to be done to introduce new companies to export finance.

“One thing we hear repeatedly is that exporters would like greater access to CIRR and concessional financing… even if you make changes to the terms, if you can't access it because there is a limited pot, in some respects it then becomes academic” he says.