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What's New! Vol.
9, No. 5
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May 2010 - What's New! Indices - 2005 2006 2007 2008 2009 2010
"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
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What's New reader survey |
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Exxon gets US ExIm Bank Funding After Paying for Trip |
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Export Credit Agency policies are not coherent with EU climate change policies |
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Construction restarts at controversial Ilisu dam |
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Trade credit insurance faces overhaul |
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WTO brokers trade finance talks for banks, regulators |
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Brazil Government To Create Exim Bank, Boost Export Incentives |
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SACE elected to the Board of the African Trade Insurance Agency |
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View Back Issues of What's New |
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| 1. |
What's New reader survey |
| Please take 30 seconds to complete our brief reader survey by clicking the link above. |
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| 2. |
Exxon gets US ExIm Bank Funding After Paying for Trip |
| (Bloomberg, Washington, 25 March 2010) Exxon Mobil Corp. and its partners
in a $15 billion Papua New Guinea gas project last year paid the
travel expenses for employees of the U.S. Export-Import Bank as
it considered whether to help fund the venture. |
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Export Credit Agency policies are not coherent with EU climate change policies (PDF) |
| (Both Ends, Amsterdam, 10 May 2010) In this paper, Both ENDS and partners examine the policies and portfolios of 3 European ECAs & the European Investment Bank (EIB) in developing countries. It shows that the policies of these institutions are not coherent with the climate change policies of the European Union. Analysis of their portfolios suggests a strong orientation toward sectors and projects that are intensive fossil fuel users and among the faster growing sources of GHG emissions, with a lack of transparency and detail in reporting that makes it difficult to assess the full carbon footprint of their activities. |
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Construction restarts at controversial Ilisu dam |
| (ECA Watch Austria, Vienna, 17 May 2010) Austria's Andritz AG is the only European company to remain within the controversial Ilisu dam project on the Tigris river in south-eastern Turkey. Alstom (FR/CH) and Züblin (D/AUT) have now pulled out of the project according to a report from the Czech General Consulate in Turkey. A recent examination of the construction site showed that heavy construction work has restarted, apparently in contravention of Turkish law. |
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Trade credit insurance faces overhaul |
| (The Telegraph, London, 17 May 2010) Businesses could see trade credit insurance premiums increase as well as cover reduce if their customers suffer weak trading in future, says Coface. It added that businesses would in future be expected to be far more
transparent about their current trading performance in return for
trade
credit insurance cover for their suppliers. |
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WTO brokers trade finance talks for banks, regulators |
| (Reuters, Geneva, 18 May 2010) The World Trade Organization hosted a meeting on May 16 to review the recovery of the $10 trillion market in trade finance since the crisis. Sources at the meeting said because trade finance is a low-returns business, it cannot compete with investment banking or forex trading and claimed regulations already make it unprofitable for many big international players, who only stick with it because they need to provide a full range of transaction banking services to their global clients. |
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Brazil Government To Create Exim Bank, Boost Export Incentives |
| (Brasilstocks.com, Brasilia, 5 May 2010) Hoping to rein in a widening current account deficit, Brazil’s government Wednesday announced the creation of a national export-import bank and unveiled a long-awaited list of incentives aimed at boosting the country’s exports. The bank will be created on the
foundation of the Finame industrial financing agency at the country’s BNDES National Development Bank. |
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SACE elected to the Board of the African Trade Insurance Agency |
| (SACE, Rome, 24 May 2010) SACE, Italy's official ECA, has been elected to the Board of the African Trade Insurance Agency, the African insurance agency for political and export/trade credit risks. SACE’s membership of ATI was in principle approved at the 9th Annual General Meeting held in Nairobi, Kenya in May 2009. SACE’s membership was successfully concluded last July with SACE investing US$10 million in the agency’s capital. |
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