(Global Trade Review, London, 5 July 2017) Norwegian export credit agency Giek has launched a new lender guarantee for export-related investments in Norway. The new product will provide guarantees to banks that finance corporate investment in Norway, where the investment directly or indirectly...
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2017/07/30
Country: Italy
ECAs: SACE S.p.A.
(Italy/Europe 24, Rome, 26 July 2017) Italian export credit agency SACE is continuing to boost Italian companies abroad. Along with SIMEST – the other export and internationalization arm of state holding CDP – the SACE agency led by Alessandro Decio closed the first six months of this year with...
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2017/07/30
Country: Germany, Turkey
ECAs: Euler Hermes Deutschland AG
Issue: European Union, Human Rights
(The Telegraph, Berlin, 21 July 2017) Germany announced a series of hardline measures against Turkey on Thursday amid rapidly deteriorating relations between the two Nato partners. Sigmar Gabriel, the German foreign minister, accused the Turkish government of the “arbitrary” arrest of German...
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2017/07/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
(Bloomberg, London, 13 July 2017) Five of the U.K.’s leading retail banks have pledged more financial support for small British exporters, with government backing, as Prime Minister Theresa May’s administration prepares the country for life after Brexit. The U.K. said its export credit agency...
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2017/07/30
Issue: Climate Change, Human Rights, Oil, Gas and Mining
(Club of Mozambique, Maputo, 30 June 2017) The Export-Import Bank of Korea announced on June 27 that it has signed a project financing contract on June 26 for offshore gas field development in Mozambique. The gas field development project is a joint project of the Korea Gas Corporation, Exxon...
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2017/07/30
Country: Canada
ECAs: Export Development Corporation
Issue: Human Rights, Transparency
Member: Above Ground
(Globe and Mail, Toronto, 21 September 2016) In 2015 Netsweeper Inc. of Waterloo Ontario, with support from Export Development Canada, sold Internet filtering technology to the government of Bahrain — a country criticized internationally for widespread suppression of human rights defenders...
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2017/07/30
Country: USA
ECAs: Export-Import bank of the United States
(Politico, Washington, 17 July 2017) President Donald Trump is standing behind former Rep. Scott Garrett, his choice to head the Export-Import Bank, amid escalating pressure from business groups to pull the plug on the nomination. His record has driven businesses that rely on the agency to try...
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2017/07/30
ECAs: Euler Hermes Deutschland AG, Export-Import bank of the United States, Japan Bank for International Cooperation, Nippon Export and Investment Insurance
Issue: OECD
(Global Trade Review, London, 12 July 2017) Medium and long-term export credit activity nosedived among OECD countries in 2016, led by a massive decline in activity at US Exim. With notable exceptions (including France, Italy, Sweden and the UK) export credit volumes declined in many major...
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2017/07/30
Issue: Climate Change, End Coal Financing, Oil, Gas and Mining, Renewables
(Guardian, London, 5 July 2017) The G20 nations provide four times more public financing to fossil fuels than to renewable energy, a report has revealed ahead of their summit in Hamburg, where Angela Merkel has said climate change will be at the heart of the agenda. The authors of the report...
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2017/07/30
Country: Russia
Issue: Debt, Nuclear
(Bloomberg, Moscow, 25 July 2017) As state secrets go, Russia’s program of export finance and loans to other nations might be one of the worst kept. While discussions about aiding cash-strapped allies frequently spill into the open, the Finance Ministry’s debt chief Konstantin Vyshkovsky says...
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2017/06/30
Country: Canada
ECAs: Export Development Corporation
Issue: Human Rights
Member: Above Ground
(Above Ground, Ottawa, 14 June 2017) Our latest correspondence with Export Development Canada (EDC) about the impacts in Colombia of two oil...
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2017/06/30
Country: India
(OpenGovAsia, Singapore, 16 June 2017) The Export-Import Bank of India (EXIM Bank) and the Export-Import Bank of Korea (KEXIM) have signed a Memorandum of Agreement (MoU) for export credit of USD 9 billion to support infrastructural development in India and for the supply of goods and services...
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2017/06/30
(Afreximbank Cairo, 26 June 2017) Madagascar has become the latest country to join the African Export-Import Bank (Afreximbank) as a participating state. Membership of the Bank gives Madagascar automatic access to the full range of products and facilities offered by Afreximbank, including trade...
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2017/06/30
Country: China, Germany, Italy, Japan, Norway, Russia
(Financial Tribune, Tehran, 19 June 2017) Iran has held negotiations with Italy’s Medibank and SACE export guarantee for €2 billion ($2.24 billion), Exim Bank of China for $30 billion, China Development Bank for $15 billion, Korea Export–Import Bank for $8 billion and Korea Trade Insurance...
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2017/06/30
Country: USA
ECAs: Export-Import bank of the United States
Issue: Aircraft
(Defense News, Washington, 20 June 2017) U.S. President Donald Trump has formally nominated former members of Congress, Scott Garrett and Spencer Bachus, to two vacant positions on the U.S. Export-Import bank as expected, a win for the defense and aerospace sector. Trump announced the move in...
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