The Czech Export Bank (hereinafter "CEB") is part of the state's pro-export policy system. It is a specialised banking institution whose ownership is split between the State (69.7%) and the state-owned Export Guarantee and Insurance Corporation (hereinafter "EGAP").

Pursuant to Act No. 58/1995 Coll., on state-supportedexport insurance and financing, CEB is entrusted with the provision of state-supported financing. The Act defines state-supported financing as short-term and long-term financing and the provision of export credits, the financing of production for export, investment credits, project financing credits and the provision of export-related financial services.

CEB's mission is to support Czech exports; therefore, its principal goal is not to generate maximum profits, but a maximum volume of state-supported export.

Despite this distinction from the commer-cial banking sector and the fact that the provision of state-supported financing is governed by a special Act (Act No. 58/1995 Coll.), CEB is a standard part of the Czech banking network, whose activi-ties are fully subject to current banking regulations, to measures adopted by the Czech National Bank, and also to the Public Support Act.

CEB must also observe international obligations of the Czech Republic. Therefore, state-supported financing is provided in accor-dance with the principles of the World Trade Organisation (WTO) and with the rules enshrined in the "Arrangement on Guidelines for Officially Supported Export Credits" (the so-called OECD Consensus), including directives on the fight against corruption and assessing the environmental effects within the importing coun-try of export projects implemented with the help of state-supported financing.