ECA Watch: International NGO Campaign on Export Credit Agencies Export Credit Agencies: A Ball and Chain for People and the Environment
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The Problems

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Africa (Sub-Saharan Region)

There is currently no pan-African network to monitor ECAs.

About the African (Sub-Saharan) Region and ECAs:

Several financial institutions have been created to stimulate industry across the whole of Africa. The two which offer export credit guarantees and insurance are the African Export Import Bank and the African Trade Insurance Agency. The African Export Import Bank was established in Nigeria in 1993. Ownership is divided between the government banks of most African countries, private African banks, and government and private banks from outside Africa. The Exim Bank of China and the Exim Bank of India are counted among its shareholders. The African Trade Insurance Agency was established in 2001 to offer Political Risk Insurance and Credit Risk Insurance to promote the export and import of business in Africa.

ECA Involvement in Africa:

Export Credit Agencies play a significant role in several African countries. A large part of the external debt of many African countries is held directly by ECAs. Countries such as Nigeria, Lesotho and Gabon owe more than 50% of their national debt to ECAs. The majority of direct foreign investment in Africa is dedicated to extractive industries such as oil production and mining. Extractives have devastating effects on the environment, which threatens the livelihoods of local communities in many regions throughout the continent. In addition, ECA financing in Africa has encouraged corruption, generated conflicts and undermined the possibilities for democratic change in numerous African countries. 





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