Welcome to ECA Watch

Export credit agences provide government-backed loans, guarantees and insurance to corporations working internationally in some of the most volatile, controversial and damaging industries on the planet.

Shrouded in mystery, ECAs provide financial backing for risky projects that might never otherwise get off the ground. They are a major source of national debt in developing countries.

ECA Watch is a network of NGOs from around the world. We come together to campaign for ECA reform - better transparency, accountability, and respect for environmental standards and human rights.

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What's New April 2017

"What's New!" is a periodic update to keep you informed of the latest on the ECA Watch website. What's New! features a wide range of materials related to the reform of Export Credit Agencies (ECAs) including NGO publications and releases, news articles, commentaries and announcements about the policies and practices of ECAs and ECA-financed projects world-wide.

If you would like to receive "What's New!" simply add your e-mail to the ECA-Action list at www.eca-watch.org today! Questions?

Email info-at-eca-watch.org

See all "What's New!" updates since 2005 here.

  • In policy reversal Trump names new Ex-Im president
  • Don't fund South African coal mine, activists plead with Australian export credit agency
  • JBIC Must Immediately Review and Repeal its Loan Agreement for Illegal Coal Project
  • German, Swedish, Chinese, Russian, Japanese, Italian and French ECAs support Yamal LNG project
  • Brazil will offer export credit-line for defence products
  • Ex-Im Bank of India confirms $1.6bn loan for Rampal coal plant to bankroll Sundarbans destruction
  • EDC Signals Millions in New Loans for India with the Opening of Singapore Branch
  • Canada's EDC and UK UKEF eye Philippine growth and infrastructure
  • Alba secures $700m in export credit financing
  • Iran, Portugal ECAs Sign Cooperation Deal

In policy reversal Trump names new Ex-Im president

(Deutsche Welle, Washington, 15 April 2017) US President Trump has named Scott Garrett, a conservative Republican former lawmaker, to head the Export-Import (Ex-Im) Bank. Garrett voted to close the official US export credit agency when he was a member of Congress. Trump also named Spencer Bachus, a Republican former congressman from Alabama, to be a member of the Ex-Im board of directors. During last year's presidential election campaign, Trump dismissed the bank as "unnecessary." He alleged in August that "it's sort of a featherbedding for politicians and others, and a few companies." On April 12th, in comments reported by the Wall Street Journal, Trump announced a policy change on Ex-Im, saying: "Actually, it's a very good thing. And it actually makes money, it could make a lot of money." Garrett, a New Jersey Republican, served seven terms in the House of Representatives and voted in 2012 and 2015 against renewing the Ex-Im charter. A founding member of the Freedom Caucus and reported to have made a series of anti-gay remarks, Garrett was defeated in the November elections. Speaking about Ex-Im at a congressional hearing in 2014, Garrett said "when you mix big corporations and taxpayer-backed guarantees, you get a little something that looks an awful like crony capitalism." In a tweet in October 2015, Garrett described the bank as a "corporate welfare program."

http://www.dw.com/en/in-policy-reversal-president-trump-names-new-president-for-...


Don't fund South African coal mine, activists plead with Australian export credit agency

(Guardian, London, 6 April 2017) Environmental action groups including Greenpeace, Oxfam and GetUp have signed an open letter to Australia’s export credit agency asking it not to fund a controversial new coal mine. The groups say a loan to the proposed Resgen Boikarabelo mine in South Africa will lead to human rights abuses and hinder Australia’s Paris commitment to keep global warming below 2C. The open letter to the Efic Board of Directors from civil society organizations led by ActionAid and Jubilee Australia, and representing some 2 million Australians all together, expressed their belief that by funding this coal mine, Efic is at risk of funding human rights abuses in South Africa.

https://www.theguardian.com/australia-news/2017/jan/17/australia-export-credit-a...


JBIC Must Immediately Review and Repeal its Loan Agreement for Illegal Indonesian Coal Project

(Friends of the Earth Japan, Tokyo, 19 April 2017) Following objections from local affected villagers, on April 19th the regional court in Bandung, West Java revoked the environmental permit for the 1000MW Cirebon coal-fired power plant expansion plan known as Cirebon 2 (which Marubeni and JERA invested in). The Japan Bank for International Cooperation (JBIC) had concluded a loan agreement for Cirebon 2 on April 18, the day immediately before the court verdict was due. JBIC now must sincerely take into account the local villagers’ rights and the judicial decision in the host country. JIBC must immediately review and repeal its decision to provide financing for Cirebon 2, as the project is illegal according to local law and in violation of the “JBIC Guidelines for Confirmation of Environmental and Social Considerations” (Guidelines) which require “the compliance with environmental laws of the host nation and local governments concerned” and “the submission of environmental permit certificates issued by the host governments.”

http://www.foejapan.org/en/aid/170419.html


German, Swedish, Chinese, Russian, Japanese, Italian and French ECAs support Yamal LNG project

(Kyiv Post, Moscow, 21 April 2017) The German and Swedish export credit agencies have decided to take part in the Yamal LNG project, Novatek CEO Leonid Mikhelson said during the annual general meeting of shareholders. The cost of the project is $27 billion. Yamal LNG has signed credit agreements for the equivalent of $12 billion with China Development Bank (CDB) and the Export and Import Bank of China (CEXIM), and the equivalent of $4 billion with Gazprombank and Sberbank. The Japan Bank for International Cooperation (JBIC) will provide €200 million, and Italian bank Intesa Sanpaolo will provide €750 million under coverage from Italian export credit agency Sace and France’s Coface (amounting to €350 million. In addition, Yamal LNG received the equivalent of $2.4 billion from Russia’s National Welfare Fund (NWF). WWF Russia in 2015 noted that the situations on Sakhalin Island, the Yamal Peninsula fields (and, apparently, in the Gydansky Peninsula in future) failed to comply with Item 8.4 of the Environmental Standards for Operations of Oil and Gas Companies Acting in Russia developed in 2004 by non-governmental nature conservation organizations.

https://www.kyivpost.com/russia/mikhelson-german-swedish-export-credit-agencies-...


Brazil will offer export credit-line for defence products

(QUWA, San Francisco, 6 April 2017) Brazil will offer a credit-line to overseas customers of its defence products. The announcement was made by the President of the National Bank for Economic and Social Development (BNDES), Maria Sílvia Bastos Marques, at LAAD 2017, which is taking place at Rio de Janeiro. As per the Brazilian Ministry of Defence’s press release, current schemes are done on an ad hoc basis, but this formal mechanism will coordinate with each of Brazil’s ministries and will boost the competitiveness of the Brazilian defence industry. For example, there is a Defence Group in the Foreign Trade Chamber.
http://quwa.org/2017/04/06/brazil-will-offer-credit-line-defence-exports


Ex-Im Bank of India confirms $1.6bn loan for Rampal coal plant to bankroll Sundarbans destruction

(BankTrack, Nijmegen, 11 April 2017) Ex-Im Bank of India’s confirmation today that it is providing a $1.6 billion loan to Bangladesh-India Friendship Power Company (BIFPCL) for development of the Rampal coal plant in Bangladesh has been strongly criticised by BankTrack. Johan Frijns, director of BankTrack, said: “Ex-Im India’s decision to bankroll the massive Rampal coal plant in Bangladesh, situated right next to the Sundarbans mangrove forest, comes packaged with the claims that ‘state of the art technologies have been selected for this project’, and that ‘all environment concerns related to the project have been addressed’. Yet such statements are completely at odds with the deep concerns held by the Bangladeshi population and the international public, and fly in the face of overwhelming expert opinion to the contrary. Resistance is now set to grow further against the project promoters and the bank.

https://www.banktrack.org/news/exim_bank_of_india_confirms_1_6bn_loan_for_rampal...


EDC Signals Millions in New Loans for India with the Opening of Singapore Branch

(Business Wire, Mumbai, 2 April 2017) Export Development Canada today announced its new and first global branch outside of Canada, in Singapore. “EDC’s new branch can process transactions in real time for Indian companies, eliminating the previous 12 hour delay to connect back to our financing team in Canada,” says Bill Brown, Regional Vice-President, Asia, EDC. “EDC’s financial services are now offered more quickly and effectively, which will significantly benefit Indian companies.” The new Singapore branch is expected to play an important role in doubling EDC’s loan bookings by 2021, when it hopes to be providing over USD 4 billion in new commercial financing annually.

https://finance.yahoo.com/news/export-development-canada-signals-millions-013000...


Canada's EDC and UK UKEF eye Philippine growth and infrastructure

(Philippine Daily Inquirer, Manila, 24 April 2017) As offers of development funding from China and Japan pour in, Canada also wants a bigger piece of the Philippine growth story as its export credit agency Export Development Canada (EDC) seeks more opportunities to fund infrastructure projects and other key industries. In an e-mail interview with the Inquirer, EDC regional vice president for Asia international business development William Brown said EDC was anticipating more Canadian businesses wanting to invest and sell more products to the Philippines as Canadian exporters and investors seek opportunities in emerging markets. EDC recently opened a branch in Singapore to function as its financing hub in Asia. The United Kingdom has offered the Philippines a chance to tap its £4.5-billion export-import facility as a financing option for the Duterte Administration’s massive infrastructure program, the Department of Finance (DoF) said over the weekend.

https://business.inquirer.net/228257/canada-export-bank-eyes-ph


Alba secures $700m in export credit financing

(Trade Arabia, Manama, 16 April 017) Aluminium Bahrain (Alba), a leading aluminium smelter, has secured commitments of about $700 million from Export Credit Agency (ECA) supported facilities to finance Line 6 Expansion project. The facilities are made-up of a dual tranche of c. $310 million and c. EUR315 million ($334 million) SERV Guaranteed Export Credit and c. EUR50 million Euler Herms Guaranteed Export Credit. The SERV-backed facility will fund the company’s Power Station 5 (PS5) wherein General Electric (GE), EPC contractor, will provide three 9HA gas turbines, three steam turbines and three heat recovery steam generators (HRSGs).

https://www.tradearabia.com/index.php?%2Fnews%2FIND_323517_html=


Iran, Portugal ECAs Sign Cooperation Deal

(Financial Tribune, Tehran, 20 April 2017) Export Guarantee Fund of Iran (EGFI) and Portugal’s private insurance firm COSEC signed a memorandum of understanding in Tehran on Tuesday to expand cooperation. The two entities agreed to expand cooperation in co-insurance, reinsurance, credit assessment, claims prevention and recovery of debts that help the exporters of both countries, EGFI reported in a press release. The private insurance COSEC has the mandate to manage the official export credit guarantee scheme on behalf of the Portuguese government. Since the lifting of sanctions, EGFI has been expanding ties with various ECAs and has held talks with institutions across the world, including the United Kingdom Export Finance, Japanese Nippon Export, Investment Insurance Export Credit Guarantee Corporation of India, South Korea’s K-Sure and Italy’s SACE. Iran-Portugal trade stood at $1.76 million during the 10 months to January 20, 2017, Tehran Chamber of Commerce, Industries and Mines’ website reported.

https://financialtribune.com/articles/economy-business-and-markets/62804/iran-po...


What's New March 2017

"What's New!" is a periodic update to keep you informed of the latest on the ECA Watch website. What's New! features a wide range of materials related to the reform of Export Credit Agencies (ECAs) including NGO publications and releases, news articles, commentaries and announcements about the policies and practices of ECAs and ECA-financed projects world-wide.

If you would like to receive "What's New!" simply add your e-mail to the ECA-Action list at www.eca-watch.org today! Questions?

Email info-at-eca-watch.org

See all "What's New!" updates since 2005 here.

  • 280 CSOs from 47 Countries Call on Japanese Government to Reject Support for Indonesian Coal Plants
  • France Joins UK in Airbus Fraud Investigation
  • EC publishes Annual Activity Report on Export Credits
  • Ex-Im Bank Critics Are Undermining Trump's Trade Strategy
  • S. Korean & Chinese ECAs to support hydroelectric dams in Iran
  • Norway export credit institute sees Iran trade opportunity
  • Export credit funds to finance Adani's Australian coal mine project
  • Law firm helps secure Norwegian ECA US$100m facility for massive offshore oil project
  • Uganda: UK Doubles Export Funding to Uganda
  • UK commits US$1.2 billion for funding development projects in Peru
  • Islamic Development Bank sets out roadmap to promote Arab-African trade
  • Export credit to boost Middle East lending
  • Botswana hosts global credit insurance conference
  • South Sudan officially joins Afrexibank
  • Saab & BAE Systems table export credit for Malaysia fighter bid
  • World Bank Project Aims to Help Mongolia Access Export Credits

280 CSOs from 47 Countries Call on Japanese Government to Reject Support for Indonesian Coal Plants

(FOE Japan, Tokyo, 27 March 2017) On March 23, Indonesian and Japanese CSOs submitted an international petition signed by 280 CSOs from 47 countries to the Japanese government, calling on JBIC and JICA not to finance the Cirebon expansion coal-fired power plant (1,000 MW) and the Indramayu expansion coal-fired power plant (1,000 MW), both located in West Java, Indonesia.

http://www.foejapan.org/en/aid/170323.html


France Joins UK in Airbus Fraud Investigation

(AI News, Midland Park, 6 March 2017) France’s Parquet National Financier has joined the UK Serious Fraud Office in an investigation into allegations of fraud, bribery and corruption in the civil aviation business of Airbus Group...  The UK agency launched its official investigation last August, following months of deliberation over whether or not to pursue charges related to the manufacturer’s failure to reveal the identity of some intermediaries in applications for export credit financing for certain airline customers... Last April Airbus issued a statement acknowledging it notified the SFO of “certain inaccuracies” in the applications following an internal investigation and that an interruption in UK export funding would likely result. At the time it said expected no interruption in financing from the export credit agencies in France and Germany—the other European countries in which it builds most of its components and assembles airplanes. However, those countries subsequently cut off funding as well in cooperation with the UK agency. Export credit accounted for some 6 percent of funding for Airbus airliners in 2015 and, due to the investigation, virtually none last year. Despite these investigations, Airbus has stated that it "expects to have access to European export credit financing on a 'case by case' basis in 2017"

http://www.ainonline.com/aviation-news/air-transport/2017-03-16/france-joins-uk-...


EC publishes Annual Activity Report on Export Credits

(European Comission, Brussels, 2 February 2017) The European Commission in February 2017 published its "annual" report on the activities of 21 member state's official Export Credit Agencies for the year 2014. ECA Watch notes that, in addition to the two year delay in its issue, the report provides an incomplete and in some respects misleading picture of the activies of official EU ECAs, which we are now reviewing and will comment on.

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX%3A52017DC0067


Ex-Im Bank Critics Are Undermining Trump's Trade Strategy

(Forbes, Arlington, 3 March 2017) Loren Thompson of the centre-right Lexington Institute comments on "the dwindling band of Export-Import Bank critics who think America should be the only major trading nation without an export credit agency." He notes that while Ex-Im actually make a profit, most national ECAs actually do susidize national exporters, i.e. distort markets. An interesting view into the ideological battles currently underway in Washington.

https://www.forbes.com/sites/lorenthompson/2017/03/03/ex-im-bank-critics-are-und...


S. Korean & Chinese ECAs to support hydroelectric dams in Iran

(Financial Tribune, Tehran, 14 March 2017) Multibillion-dollar deals have been signed with East Asian companies to develop dam infrastructure in Iran, including a $1.7 billion agreement with South Korea for developing the Bakhtiari hydroelectric dam and a $341 million Sinosure credit line for an hydroelectric dam in the western Lorestan Province as well as an offer of a €290 million Sinosure credit line for Chamshir hydroelectric dam in Kohgiluyeh - Boyer Ahmad Province.

https://financialtribune.com/articles/energy/61409/s-koreans-chinese-companies-t...


Norway export credit institute sees Iran trade opportunity

(IranOilGas, Tehran, 4 March 2017) Officials from the Export Guarantee Fund of Iran and Norwegian Guarantee Institute for Export Credits (GIEK) discussed expansion of ties during a meeting held in Tehran... Commenting on Norway’s $1 billion credit line for covering trade with Iran, Wenche Nistad, GIEK’s chief executive, said: “The plan is still in its early phases; more time is needed for starting such projects as we need to learn more about each other, know more about doing business with Iran and get familiar with Iran’s banking system.”

http://www.iranoilgas.com/news/details?id=17271&title=Norway%20export%20credit%2...


Export credit funds to finance Adani's Australian coal mine project

(Business Standard, New Delhi, 20 March 2017) Leading global financers, export credit funds from China and Korea and international banks which earlier refused to fund the Carmichael coal mine project of the Adani Group are in talks with the Indian conglomerate to fund the project. The company has yet again rubbished the opposition from the climate groups saying this will not impact the funding for the project.

https://www.pressreader.com/india/business-standard/20170320/281608125251170


Law firm helps secure Norwegian ECA US$100m facility for massive Australian offshore oil project

(Austral Asian Lawyer, St. Leonards NSW, 15 March 2017) Global law firm Norton Rose Fulbright has advised on a US$100 mn term loan and guarantee facility which will be used by Woodside for its offshore operations in Western Australia. The facility has export credit support provided by DNB Bank ASA and the Norwegian Export Credit Agencies (ECA)... NRF advised Eksportkreditt Norge AS as lender; DNB Bank ASA as agent and arranger, ECA co-ordinator and ECA guarantor; and Norway’s Guarantee Institute for Export Credits (GIEK) as ECA guarantor on the loan and guarantee facility. The facility will be used to support the delivery of subsea equipment for installation on the seabed to support Woodside’s $1.9bn Greater Enfield project, an offshore oil project which will include up to 14 wells, according to projectconnect.com.au.

http://www.australasianlawyer.com.au/news/nrf-helps-secure-us100m-facility-for-m...


Uganda: UK Doubles Export Funding to Uganda

(All Africa News, Kampala, 27 March 2017) The British government has announced a major increase in the export credit for Uganda, from £300 million (Shs1.35 trillion) to £600 million (Shs2.7 trillion). The new export finance support is made available through UK Export Finance (UKEF), the UK Government's export credit agency which provides competitive finance for UK exports.

http://allafrica.com/stories/201703270339.html


UK commits US$1.2 billion for funding development projects in Peru

(Andina, Lima, 4 March 2017) The United Kingdom will provide US$1.2 billion to Peru to finance infrastructure projects in favor of development, British Ambassador to Lima Anwar Choudhury announced on Friday. Resources will be provided by UK Export Finance (UKEF), the bloc's export credit agency, to finance exports of UK products and services in infrastructure, energy and sanitation sectors, among others. In addition, UKEF will provide an additional US$200 million in funding for the development of projects carried out in cooperation with the Development Bank of Latin America (CAF).

http://www.andina.com.pe/Ingles/noticia-uk-commits-12-billion-for-funding-develo...


Islamic Development Bank sets out roadmap to promote Arab-African trade

(Arab News, Riyadh, 5 March 2017) The Islamic Development Bank (IDB) is developing a roadmap to strengthen Arab-African trade over the next three years, according to Hakim Elwaer, IDB’s official spokesman... At a forum held in Rabat last month it was noted that IDB’s support for development programs and infrastructure projects in Africa has reached more than $43 billion, which included funding for projects in infrastructure. IDB President Bandar Hajjar added that the volume of trade financing granted to Arab and African member countries since the establishment of the International Islamic Trade Finance Corporation (ITFC), which is IDB’s trade financing arm, has reached about $15 billion.

http://www.arabnews.com/node/1063406/saudi-arabia


Export credit to boost Middle East lending

(Bloomberg, Dubai, 2 March 2017)  Middle East borrowers are increasingly using loans backed by export credit agencies to fund projects as tightening liquidity makes conventional borrowing more expensive and difficult to secure, according to Societe Generale SA. France’s second-largest bank by market value is in talks with governments, state-owned and private companies for about twelve loans backed by ECAs for projects including in the energy and oil industries in the Middle East, Richad Soundardjee, regional chief executive officer, said in an interview in Dubai. The lender more than doubled the number of ECA backed loans it helped raise last year, compared with 2015, he said, without revealing the number of loans.

https://www.bloombergquint.com/business/2017/03/08/societe-generale-sees-export-...


Botswana hosts global credit insurance conference

(Mmegi Online, Gabarone, 23 March 2017) The Botswana Export Credit Insurance (BECI) will for the first time host the annual meeting of international credit insurers in Kasane next month. The event, called the Prague Club Committee (PCC) spring meeting, will see around 50 senior participants from 20 international members of the Berne Union gather to discuss political risk, trade finance and credit insurance... The meeting [will] cast a spotlight on Botswana with delegates expected to explore the culture, heritage and natural environment across a range of thrilling excursions organised alongside the conference.

http://www.mmegi.bw/index.php?aid=67628&dir=2017/march/23


South Sudan officially joins Afrexibank

(BizNis Africa, Johannesburg, 29 March 2017) South Sudan, Africa’s youngest country, has become the latest country to join the African Export-Import Bank (Afreximbank) as a participating state... Dr. Benedict Oramah, President of Afreximbank, stated that membership of the Bank would give South Sudan automatic access to the full range of products and facilities offered by Afreximbank, including trade finance facilities, project finance services, trade information and advisory services, support in the development of a local content policy and assistance in developing and implementing industrial parks and special economic zones... Participating states become shareholders when they acquire shares in the Bank. Afreximbank shareholders are a mix of public and private entities divided into four classes and consist of African governments, central banks, regional and sub-regional institutions, private investors and financial institutions, as well as non-African financial institutions, export credit agencies and private investors.

https://www.biznisafrica.co.za/south-sudan-officially-joins-afreximbank/


Saab & BAE Systems table export credit for Malaysia fighter bid

(QUWA, Islamabad, 22 March 2017) With the Royal Malaysian Air Force (RMAF) seeking 18 next-generation multi-role fighters to supplant its MiG-29, leading aviation vendors are beginning to actively position their respective platforms. IHS Jane’s and Shepard Media report that Saab and BAE Systems are willing to provide credit or financing terms for the JAS-39 Gripen and Eurofighter Typhoon, respectively... Malaysia’s defence procurement strategy is tailored for diversification, which results in purchases from Eastern and Western vendors. One need only look at the Royal Malaysian Navy’s (RMN) recent purchases from France (Scorpene-class submarines and Gowind-class frigates) and China (Littoral Mission Ships).

http://quwa.org/2017/03/22/saab-bae-systems-table-export-credit-malaysia-fighter...


World Bank Project Aims to Help Mongolia Access Export Credits

(Military News, Ulaanbaatar, 24 March 2017) The Mongolia Ministry of Finance and the World Bank today launched the Export Development Project aimed to help small- and medium-sized enterprises in non-minerals sectors strengthen their export capabilities and boost their access to export markets. The project, to be implemented by the government of Mongolia in the next 4 ½ years, will support Mongolia’s economic diversification by providing those firms with training, matching grants and access to export credit-insurance products.

http://www.military-technologies.net/2017/03/24/world-bank-project-aims-to-help-...


What's New February 2017

"What's New!" is a periodic update to keep you informed of the latest on the ECA Watch website. What's New! features a wide range of materials related to the reform of Export Credit Agencies (ECAs) including NGO publications and releases, news articles, commentaries and announcements about the policies and practices of ECAs and ECA-financed projects world-wide.

We apologize for the delay in publication of the February issue which was caused by a crash of the editor's computer.

If you would like to receive "What's New!" simply add your e-mail to the ECA-Action list at www.eca-watch.org today! Questions?

Email info-at-eca-watch.org

See all "What's New!" updates since 2005 here.

  • Japanese ECA finances Indonesian coal plant despite widespread opposition
  • Canadian ECA supports Canadian software exports to stifle dissent in Bahrain
  • Swedish credit lines for Iran
  • Boeing *loves* the Export-Import Bank, but Boeing doesn't *need* the Export-Import Bank
  • Trump’s Mixed Signals on Export-Import Bank Leave Door Open for Conservatives
  • US Ex-Im has provided $315m to supplier of mines accused of slave labor
  • Afreximbank commits $90bn to boost African trade
  • Fitch affirms SACE rating at 'A-' with outlook negative

Japanese ECA finances Indonesian coal plant despite widespread opposition

(Banktrack, Nijmegen, 28 February 2017) As financial close was announced on the Tanjung Jati B 2 (TJB2) coal expansion power project in Indonesia yesterday, BankTrack, Friends of the Earth Japan and 350.org Japan criticised the Japan Bank for International Cooperation (JBIC) and several Japanese and Singaporean banks for their support for the project. JBIC’s approval of a USD 1.7 billion loan agreement for the project, with further backing from the “big three” Japanese commercial banks - Mizuho Bank, Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation – as well as other Japanese banks and Singapore’s OCBC, comes after French banks Société Générale and Crédit Agricole withdrew from the bank consortium in December. The building of two new coal power units will make the already hard-felt impacts of the existing Tanjung Jati B coal power station worse. The local fishing community cites reduced catches, damage to the coral reef and collisions between fishing boats and coal transport barges. It will also worsen the impacts of air pollution. A Greenpeace report has estimated that the first four units are already responsible for 1,020 premature deaths per year because of respiratory infections caused by air pollution from the plant.

http://www.banktrack.org/news/japanese_and_singaporean_banks_step_in_to_finance_...


Canadian ECA supports Canadian software exports to stifle dissent in Bahrain

(Above Ground, Ottawa, 15 February 2017) Last year an Ontario-based company, with support from Export Development Canada, sold Internet filtering technology to the government of Bahrain — a country criticized internationally for widespread suppression of human rights defenders through censorship, surveillance, arbitrary detention and torture. In this submission to the Standing Senate Committee on Human Rights, we draw attention to this troubling situation and call for the adoption of regulatory and policy measures to ensure Canada is not complicit in foreseeable human rights violations associated with the use of digital censorship and surveillance technologies supplied by Canadian companies. The kingdom of Bahrain last summer started using Web-filtering software from Netsweeper Inc. as a means of keeping a lid on dissent according to a University of Toronto report.

http://www.theglobeandmail.com/news/national/bahrain-using-canadian-software-to-...


Swedish credit lines for Iran

(Financial Tribune, Tehran, 13 February 2017) After a meeting with the Swedish Minister for European Affairs and Trade Anne Linde, Iran's Minister of Communications and Information Technology Mahmoud Vaezi announced that two Swedish banks will allocate credit lines to Iranian companies in the field of communications and information technology.  The visiting delegates were in Tehran on Saturday as part of a high-ranking political and economic mission led by Swedish Premier Stefan Lofven on a three-day visit and included CEOs of companies like Scania, Ericsson, Elekta, Volvo, ABB, Sensys Gatso Group, Swedish Energy Agency, Swedish Environmental Protection Agency and Swedish Post and Telecom Authority, along with Danske Bank and EKN (Swedish export credit agency. Recent missions from France, Italy and Germay have shown that Europe will double down on Iran deal even as Trump steps away

https://financialtribune.com/articles/economy-business-and-markets/59467/swedish...


Boeing *loves* the Export-Import Bank, but Boeing doesn't *need* the Export-Import Bank

(Washington Examiner, Washington, 17 February 2017) The Export-Import Bank of the United States is also known as "Boeing's Bank," because about 40 percent of its financing, in the average year, goes to subsidize Boeing sales. Boeing spends a lot of time and money lobbying in favor of Ex-Im. One interesting detail: Kevin Varney, recently a vice president at Ex-Im is now chief of staff for government operations at Boeing. Boeing says they desperately need Ex-Im financing — that is, U.S. taxpayer guarantees for private bank loans to foreign airlines — but the evidence suggests Boeing finds financing sells jets just fine without the subsidy.

http://www.washingtonexaminer.com/boeing-loves-the-export-import-bank-but-boeing...


Trump’s Mixed Signals on Export-Import Bank Leave Door Open for Conservatives

(Heritate Foundation, Washington, 6 March 2017) For the last five years, conservative lawmakers have rallied behind efforts to close the Export-Import Bank, and were successful in 2015, albeit briefly, when the bank’s charter lapsed for the first time in its history. But now, with President Donald Trump in the White House, conservative lawmakers may have a chance to shutter the bank for good, or at least keep it operating with limited authority. There is just one problem: Trump has sent mixed signals on where he stands on the Export-Import Bank, and though his budget director and advisers oppose the agency, Trump signaled early in his administration he could be swayed.

http://dailysignal.com/2017/03/06/trumps-mixed-signals-on-export-import-bank-lea...


US Ex-Im has provided $315m to supplier of mines accused of slave labor

(Guardian, Washington, 22 February 2017) Between 2007 and 2015, the U.S. Export-Import Bank provided $315m in 48 taxpayer-supported insurance policies to the New Jersey-headquartered Connell Company to pursue deals with at least 17 mining companies accused of slave labor, human rights violations and environmental destruction in seven sub-Saharan countries. These included a $20,000 policy to supply equipment to the Bisha copper mine in Eritrea, which is being investigated by a Canadian court amid accusations of slavery, according to an investigation of the bank by the Guardian and the Columbia University Graduate School of Journalism’s Energy and Environment Reporting Project.

https://www.theguardian.com/us-news/2017/feb/22/us-export-import-bank-africa-min...


Afreximbank commits $90bn to boost African trade

(African Business Magazine, cc, 15 February 2017) The Pan-African trade finance provider aims to support at least $90bn in trade over the period 2017-21, including $25bn in intra-African trade. By comparison, it has approved $41bn in credit facilities in the 24 years since it was created, including $6.2bn in 2015. The Bank hopes to encourage intra-African trade by supporting the development of continental supply chains and export manufacturing capacity.

http://africanbusinessmagazine.com/sectors/infrastructure/afreximbank-commits-90...


Fitch affirms SACE rating at 'A-' with outlook negative

(Italy 24, Rome, 16 February 2017) Fitch said it has affirmed export credit agency SACE rating at 'A-' with outlook negative. “The ratings reflect SACE's strong capitalisation and business profile as Italy's export credit agency as well as its financial exposure to Italy,” Fitch said in a report.

http://www.italy24.ilsole24ore.com/art/panorama/2017-02-15/fitch-affirms-sace-ra...


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