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

What's New! Vol. 8, No. 5

May 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)	Study finds IFI/ECA funded coal plants result in thousands of deaths
	2)	Canadian legislation in second reading would deny government support to corporations ignoring standards
	3)	International petition requests declaration of Hasankeyf as a UNESCO World Heritage site
	4)	Concerns mount over Ilisu dam impacts
	5)	New JIBC projects
	6)	Portugal announces intent to renationalize ECA COSEC
	7)	Atradius DSB to add project screening for ILO standards compliance
	8)	China's Sinosure & US company provide credit risk information
	9)	EU Commission Approves Danish Export Credit Insurance Plan
	10)	UK Government plans finance and insurance for exporters
	11)	Africa Trade Insurance Agency expands operations
	12)	ECAs essential to continued support for global trade
	13)	Cargill, Archer Daniels Midland, Bunge Win Most Export Aid Since 1992 as Credit Slows
	14)	No more Government insurance for BAE Systems' controversial Saudi Arabia arms deals
	—	View Back Issues of What's New

1.	Study finds MDB/ECA funded coal plants result in thousands of deaths
	(Environmental Defense, Washington, 22 April 2009) An Environmental Defense Fund report 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. It is estimated that between 6000 and 10,700 additional deaths per year - just from cardiopulmonary diseases and cancer - are attributable to the 88 plants listed in this report alone.

2.	Canadian legislation in second reading would deny government export credit support to corporations ignoring standards
	(Halifax Initiative, Ottawa, May 2009) Bill C-300, an Act respecting Corporate Accountability for the Activities of Mining, Oil or Gas in Developing Countries, legislation designed to enhance accountability regarding the overseas operations of Canadian oil, gas and mining companies, passed second reading in the House of Commons on April 22 and will soon be debated by members of the Parilamentary Standing Committee on Foreign Affairs and International Development. If adopted, the legislation will impose tighter controls on the provision of government support to Canadian extractive companies by Export Development Canada, the Department of Foreign Affairs and International Trade, and the Canadian Pension Plan Investment Board.

3	International petition requests declaration of Hasankeyf as a UNESCO World Heritage site
	(ECA Watch Austria, Vienna, 15 May 2009) A petition is circulating requesting that Hasankeyf and the Tigris Valley be named a UNESCO Natural and Cultural World Heritage Site. Meeting 9 out 10 UNESCO World Heritage Site criteria, Hasankeyf, an ancient city located on the Tigris River in south-eastern Turkey, has roots going back at least 10,000 years and is one of the oldest still inhabited towns of mankind. Some 300 archaeological sites surrounding it are threatened by the Ilisu Turkish dam project with ECA support from Germany, Switzerland and Austria. Tigris Valley ecosystems are largely intact with many endemic and globally threatened species.


4	Concerns mount over Ilisu dam impacts
4	(Stop Ilisu Campaign, Vienna, 15 May 2009) Hasankeyf residents recently refused to accept resettlement plans or to cooperate with the government's plans to create a new committee for "New Hasankeyf". Meanwhile, Iraq has blamed Turkey for a looming crop disaster due to retention of water by Turkish dams.

5	New JIBC projects
5	(JIBC, Tokyo, 18 May 2009) JIBC has released its list of new projects for the period from April 1 to May 15, 2009.

6.	Portugal announces intent to renationalize ECA COSEC
6.	(ECA Iberia, Lisbon, 26 May 2009) Portugese Prime Minister José Socrates announced in the bimonthly debate at the National Parliament, the government's intent to buy the majority of COSEC's shares, and therefore, re-nationalize this export insurance company in order to ensure a more direct intervention of the state in export credit markets, and provide a better support to Portuguese exporters.


7.	Atradius DSB to add project screening for ILO standards compliance
7.	(Both Ends, Amsterdam, 28 May 2009) The Dutch Ministry of Finance and Atradius DSB have released a draft operational policy describing the process of social and environmental screening of transactions that request ECA support. The document was released for discussion at a consultation meeting with NGOs that took place on May 18. It describes the operationalisation of the OECD's Common Approaches, although there are some important additional features. Referring to the Performance Standards of the IFC, Atradius DSB for the first time also will start screening applications on compliance with the fundamental labour standards of the ILO and will now also review social and environmental aspects of short term export credit applications. Atradius DSB will also raise additional questions on the supply chains of companies requesting export credit support, in order to avoid concerns like child labour, forced labour, discrimination or lack of freemom for organization of workers and collective negotiations in production chains.

8.	China's Sinosure & US company provide credit risk information
8.	(Panjiva, New York, 4 May 2009) The supply chain risk management company Panjiva is partnering with Sinosure in a deal to provide American companies with information to help them mitigate the risks of doing business in China in yet another public/private response to the global export credit crunch triggered by international banking failures. Meanwhile, the Chinese Cabinet announced new policy initiatives to boost exports declining because of the global financial crisis which include $84 billion worth of short-term export credit insurance to trading companies, adding the preferential policies will largely go to labor-intensive and high-tech industries.

9.	EU Commission Approves Danish Export Credit Insurance Plan
9.	(Dow Jones, Brussels, 6 May 2009) The European Commission has approved a Danish scheme to provide export credit insurance aimed at limiting the effects of the global economic downturn on Denmark's exporters. "The measure requires market-oriented remuneration and concerns insurance cover currently unavailable on the private market," the commission said in a statement. Under the scheme, the Danish state export-credit agency Eksport Kredit Fonden would complement insurance from private companies and take over part of the risks.


10.	UK government plans finance and insurance for exporters
10.	(Telegraph, London, 11 May 2009) Banks' reluctance to help businesses trade overseas has prompted the Government to propose using public money in new ways to provide the necessary export insurance and finance.

11.	Africa Trade Insurance Agency expands operations
11.	(Ratio Magazine, Nairobi, 6 May 2009) The African Trade Insurance Agency (ATI) has opened an office in Kampala, where it will offer customised political risk, credit risk and export credit insurance products in the local market. ATI is embarking on an expansion strategy to support up to US$1 billion annually in exports and imports and to attract more African countries and international investors to become members. ATI currently has 13 African member states and 4 regional and private sector members, one of which is the Common Market for Eastern and Southern African (COMESA).

12.	ECAs essential to continued support for global trade
12.	(Business Credit Management, Istanbul, 18 May 2009) As national governments and the international community respond to the world economic crisis, Berne Union members, key players in maintaining international trade and investment, gathered in Istanbul, Turkey, to reaffirm the importance of credit and investment insurance in keeping trade flowing.

13.	Cargill, Archer Daniels Midland, Bunge Win Most Export Aid Since 1992 as Credit Slows
13.	(Bloomberg, Washington, 27 May 2009) Cargill Inc., Archer Daniels Midland and Bunge Ltd. are benefiting from the most government support for farm exports since 1992 as the U.S. steps up loan guarantees for foreign buyers unable to get credit.

14.	No more Government insurance for BAE Systems' controversial Saudi Arabia arms deals
14.	(CAAT, London, 29 May 2009) BAE's arms deals with Saudi Arabia which have been underwritten by the UK's Export Credits Guarantee Department (ECGD) for more than two decades have been terminated by BAE. The contracts (known as the Al Yamamah agreements) have been highly profitable for the company but have been shrouded in secrecy and attracted allegations of bribery and corruption since they were first agreed in the mid-1980s.