Changing markets for export credit agencies, some recent factors
Over the past year, OECD ECAs have regularly cited emerging market ECAs as serious competition for them, particularly since they do not have to follow the Common Approaches recommendation on environmental and social standards. Who are these emerging ECAs? The US Ex Im Bank has produced some useful basic descriptions of Chinese, Indian and Brazilian ECAs and their activities, noting that the Chinese appear to generally follow OECD Arrangement guidelines.
Emerging Market Export Credit Agencies (2004) China, India, Brazil
Emerging Market ECAs of China (2005)
In addition, private export credit agencies have encroached on official ECA markets, particularly in short-term markets. A 2004 World Bank Global Development Finance Report highlights some of these dynamics.