EFIC Adopts the Equator Principles

Sydney - 3 March 2009

Australia’s export credit agency, EFIC today announced that it has adopted the Equator Principles. The Equator Principles provide a globally recognised benchmark that financial institutions involved in project finance can use in their management of social and environmental risk. EFIC joins financial institutions from 25 countries including two export credit agencies, in adopting the Principles.

“Signing up to the Equator Principles demonstrates our commitment to ensuring projects that receive EFIC support incorporate sound social and environmental management practices” said Mr Armour, Managing Director of EFIC.

In 2000, EFIC formally incorporated environmental and social factors into its due diligence. EFIC’s existing policies and processes are consistent with the Equator Principles.

This new commitment complements EFIC’s participation in the OECD Common Approaches. EFIC’s Environment Policy and the Common Approaches extend environmental and social review beyond project finance and EFIC will continue to apply those broader considerations to its business.

Further information on EFIC’s Environment Policy can be found at: http://www.efic.gov.au/static/efi/environment/environstd.htm