Export credit agencies and arms trade

(Paper by Martin Broek - 28 March 2003)

During its meeting in Okinawa in July 2000 the G-7 decided to pressure the members of the Organisation for Economic Co-operation and Development (OECD) to stop Low- Income Countries (LICs) from using export credits for arms purchases. Britain already said that a “naming and shaming campaign” will be initiated to pressure OECD member countries to stick to such policy, because the OECD itself can not impose binding rules. The G-7 has also asked the OECD to publish a report listing countries with laws that allow the financing of such “non-productive” exports. All this was surprising and hardly to believe.

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