Improving the Role of Eximbanks/ECAs in the OIC Member States
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Annex E: Step-By-Step Implementation for Establishing a New ECA
a. Formation of a Steering Committee
Given the complexity of many of the issues and the number of government and public entities likely
to be impacted, the very early establishment of a Steering Committee is vital.
The work cannot be left to one person or regarded as a part time role for various unidentified people
in a range of Government departments or institutions.
What is needed is a small Steering Committee of named people from identified Government entities
directly involved in the relevant policy areas, with an Executive Chairman and at least one full time
senior executive, preferably with relevant technical or professional experience in the export finance
area.
The Committee should not be too large and should meet regularly.
It may well need at an early stage to add some external specialist and professional technical adviser.
It should be made clear from the outset who the Committee is responsible to and to whom it is
reporting.
The main proceedings - and especially all decisions - should be recorded in writing, together with
details of who is responsible for implementing the decision and by what date.
It should be made explicit when consultations with other parties – especially in the private sector -
are to take place and who is to be responsible for doing this and when and how the report back is to
be made.
It is helpful for legal advice and expertise to be readily available to the Committee.
In addition, specialist financial and accounting advice and expertise and resources are vital to the
work of the Steering Committee.
At all stages from the outset, clear and regularly reviewed and updated timeframes in relation to
critical paths should be established.
No public announcements should be made without the prior knowledge of the Committee.
b. Drafting of Constitutive Documents
Once decisions on status have been taken and the Steering Committee established, work should begin
on drafting the relevant documents required to establish the entity. Regular progress reports should
be made to the Steering Committee.
c. Establishment of the Entity.
It is desirable to appoint a small number of specialist and technical staff for the new entity at an early
date.
The CEO need not be the first person appointed/recruited. It is more important for the entity to
assemble a small number of people with directly relevant technical and professional expertise. IT
expertise is likely to be very important to the entity from an early stage.