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	Overview of the Problems
	Highlight: Russia's Sakhalin II
	Highlight: The BTC Pipeline

What's New! Vol. 8, No. 4

April 2009 - What's New! Indices - 2005 2006 2007 2008 2009

"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

1)	G20 Summit approves additional $1.1 trillion for trade support
	A.	G20 'fails to deliver real change' say campaigners
	B.	G20 Summit statement
	C.	US & UK NGOs tell G20 financial stimuli must promote environmental & social benefits with economic recovery
	D.	OECD to coordinate G20 export credit commitments
2)	Changes to UK ECA ECGD rules opposed by NGOs and Opposition
	A.	Lord Mandelson accused of weakening rule on ethical exports
	B.	Anti-bribery provisions for exporters under threat as MPs relax export credit laws
	C.	UK bill 'dangerous and short-sighted'
3)	Ilisu dam site nominated for UNESCO heritage status
4)	Exxon seeks financier for the LNG project
5)	Turkish dam, British dilemma Case Study
6)	Half of Nord Stream pipelines to be ECA financed
7)	Cotton industry awaits WTO ruling on US export credits
8)	EDC Legislative Review Riles Canadian Rights Groups
9)	Iran applies for Berne Union membership
10)	EDF study estimates MDB & ECA financed coal plants cause 6,000-10,700 extra deaths per year
—	View Back Issues of What's New

1.	G20 Summit approves additional $1.1 trillion for trade support
	A.	G20 'fails to deliver real change' say campaigners
		(Inspire, Worthing, April 2009) "Support for developing country trade is important, but giving more money to unreformed export credit agencies is a potentially dangerous move. These agencies have financed projects that have caused social and environmental damage; gone into the hands of corrupt officials, or supported oppressive regimes. Radical reforms in the governance, policies, and practices of these agencies, including the UK's Export Credit Guarantee Department, are needed if they are going to have a bigger role.
	B.	G20 Summit statement
		(Guardian, London, 2 April 2009) "...we will take, at the same time, whatever steps we can to promote and facilitate trade and investment; and we will ensure availability of at least $250 billion over the next two years to support trade finance through our export credit and investment agencies and through the MDBs. We also ask our regulators to make use of available flexibility in capital requirements for trade finance."
	C.	US & UK NGOs urge G20 financial stimuli to promote environmental & social benefits with economic recovery
		US and UK NGOs have written to their respective Finance Ministers, urging that international economic stimulus plans be designed with regard to their impacts on human rights, development and the environment, questioning whether export credit agencies can have positive impacts on society, without being subject to proper regulation and accountability mechanisms.
	D.	OECD to coordinate G20 export credit commitments
		(OECD, Paris, 24 April 2009) Thirty-five countries have agreed to co-ordinate export credit support to help boost international trade and investment during the economic crisis. The OECD will host regular meetings to exchange information and monitor progress.

2.		Changes to UK ECA ECGD rules opposed by NGOs and Opposition MP
	A.	Lord Mandelson accused of weakening rule on ethical exports
		(Timesonline, London, 13 April 2009) Companies investing in controversial far-flung projects may soon be able to secure government guarantees without the stringent human rights and environmental safeguards in place at the moment
	B.	Anti-bribery provisions for exporters under threat as MPs relax export credit laws
		(Transparency International UK, London, 17 April 2009) Transparency International (UK) has written to Economic and Business Minister, Ian Pearson, urging him to think again about planned changes to export guarantee laws. An amendment to the Export and Investment Guarantees Act 1991 [was] due to be voted by the House of Commons on April 21st. TI (UK) is concerned that in its attempt to change the ECGD’s export cover rules, the Government is at risk of weakening the application of anti-bribery rules.
	C.	UK bill 'dangerous and short-sighted'
		(ECA Watch, Ottawa, 27 April 2009) Campaigners, including Amnesty International, Jubilee Debt Campaign and WWF, have expressed grave concern at a Government attempt to rush changes to Export Credit Guarantee Department (ECGD) procedures through Parliament.

3.	Ilisu dam site nominated for UNESCO heritage status
	(Stop Ilisu Campaign, Ankara, 16 April 2009) A delegation from Doğa Derneği met with the Turkish Minister of Culture and Tourism, presenting the Minister Günay with a scientific report demonstrating that the Tigris Valley and Hasankeyf meet the UNESCO World Heritage Sites criteria. In other news, the Smithsonian Institute has added Hansankeyef to its top 15 "Must See Endangered Cultural Treasures" and the Turkish Prime Minister has labelled opponents of the Ilisu dam as terrorists.

4.	Turkish dam, British dilemma Case Study
	(Timesonline, London, 13 April 2009) A plan by the Turkish Government to build a dam that would displace tens of thousands of Kurds, obliterate villages and submerge an ancient archaeological site was always likely to attract the attention of human rights groups.

5.	Exxon seeks financier for the LNG project
	(NBC Papua New Guinea, 20 April 20 2009) Exxon Mobil Limited and its partners are reportedly seeking US$9-billion in debt financing for the PNG liquefied natural gas project. The Export-Import Bank of Korea said, it is looking to support Exxon Mobil Limited and its partners...under the condition that the world's largest commercial buyer, Korea Gas Corporation is selected to receive steady supply of gas from the PNG liquefied natural gas project. A recent Euromoney article notes there are potential negative as well as positive benefits from this project.


6.	Half of Nord Stream pipelines to be ECA financed
6.	(Euromoney, London, April 2009) Corcoran plans two debt financings totalling up to €6 billion, half of which will carry export credit agency guarantees. The two pipelines will run in parallel for 1,210 kilometres under the Baltic sea, from Vyborg in Russia, just north of St Petersburg, close to the border with Finland, running between the Baltic states and Poland to the south and Sweden and Denmark.


7.	Cotton industry awaits WTO ruling on US export credits
7.	(GOSanAngelo, Lubbock, 14 April 2009) Brazil is claiming damages of $1.3 billion for the U.S. Export Credit Guarantee program... The WTO rejected the U.S. government's appeal in 2005, which prompted speculation that all American cotton subsidies would end, devastating U.S. farmers who depended on price supports.

8.	EDC Legislative Review Riles Canadian Rights Groups
8.	(Embassy Magazine, Ottawa, 15 April 2009) Leading civil society advocates are fuming that a review of Export Development Canada's business activities did little to advance the agency's obligations to human rights and transparency, and they are calling on the government to act. As EDC reaps an influx of government stimulus money in recent months, advocates say the export agency wields a considerable amount of discretion and economic power for which it is not adequately accountable.

9.	Iran applies for Berne Union membership
9.	(PressTV, Tehran, 6 April 2009) The Export Guarantee Fund of Iran has applied for membership of the Berne Union, a coalition of the world's main export credit agencies and insurers...EGFI managing director, Seyyed Kamal Seyyed-Ali, believes the Berne Union would vote for membership of the Iranian fund in the near future if the application is not subjected to political discrimination.

10.	EDF study estimates MDB & ECA financed coal plants cause 6,000-10,700 extra deaths per year
10.	(Environmental Defense, Washington, 22 April 2009) An Environmental Defense Fund report [PDF] has found that the World Bank, other international public financial institutions and export credit agencies have supported coal-fired power plants over 15 years which hamstring the fight against global warming and are estimated to have caused between 6000 and 10,700 additional deaths per year—just from cardiopulmonary diseases and cancer.