COFACE stands for Compagnie Française d'Assurance pour le Commerce Extérieur.
COFACE has been the export credit agency for France since its foundation in 1946. It also offers private credit insurance globally. The entire COFACE group has an annual turnover of EUR 1,571 million, and a direct presence in 66 countries.
Dodgy deals associated with COFACE
COFACE provided financing for the controvertial BTC pipeline and has been implicated in the Jaitapur Nuclear Power Plant. 37% of all COFACE guarantees between 2001 and 2008 went to the Aircraft company Airbus.
2001 - 2008: who benefits from COFACE guarantees? This 2009 report from Les Amis de la Terre examines state guarantees made by COFACE over the course of eight years. Available in the original French or in English translation.