(Ekklesia, London, 30 December 2011) The Department for International Development admits that if the UK writes off export credit debt owed by Sudan, the money will be counted as aid. But critics point out that Sudan has made no repayments for 27 years and that nobody realistically expects them to do so. DFID made the admission in an email to the Jubilee Debt Campaign. The NGO calculates that cancellation of Sudan’s debt could account for around 7% of the UK’s aid budget.

(ECA Watch, Ottawa, 8 December 2011) ECA Watch’s submission notes, despite growing clarity that there is a state duty to protect human rights, which includes the operations of state institutions, including export credit agencies (ECAs), ECAs continue to finance exports and investments that are associated with human rights abuse. The submission is also available in Spanish

(Eurodad, Brussels, 6 December 2011) Export Credit Agencies are debt-creating agencies. The loans they create are driven by the interests of exporters and their home countries, rather than a concern for whether the loans are useful to the host country. This report shows that export credit guarantees are at the root of most developing country debt owed to European governments. Eurodad assessed the debts owed by developing countries to 4 European countries and found that almost 80 percent of poor countries’ debts to other governments came from export credits, not development loans.

(Independent, London, 11 December 2011) NGOs say Ministers have reneged on a coalition promise to champion British firms investing in clean energy. A deal, which will see UK Export Finance guarantee a loan to the Brazilian oil firm Petrobras for deep-water oil drilling, is contrary to a government commitment that the department would champion British firms involved in green technologies “instead of supporting investment in dirty fossil-fuel energy production”.

(ECA Watch, Ottawa, 30 December 2011) In June 2007, the OECD’s Export Credit Working Group agreed “in the light of experience, [to] review all elements of [the Common Approaches] Recommendation not later than the end of 2010 and report to Council.” After more than a year of negotiations, they have failed to agree on revisions of the standards for addressing environmental issues relating to exports of capital goods and services. ECA Watch presented two sumissions to the 14 November OECD Export Credit Working Group CSO consultation covering our comments on both the Common Approaches and the Sector Understanding on renewable energy, climate change mitigation and water projects.

(Urgewald, Berlin, 17 December 2010) The public attorney of Rio de Janeiro has brought charges against a subsidiary of German’s ThyssenKrupp and leading managers on grounds of massive violation of environmental standards at a steelwork in Santo Cruz in the bay of Rio de Janeiro supported by Hermes guarantees of €200,000. People in the vicinity of the steelworks have complained about impacts on their health by the steelworks, which went into operation in 2010 and has been the biggest German investment in Brasil in the past years.

2009 cash flow results for officially supported export credits – the last cash flow results posted were for 2005 and the last aggregated record of the level of official OECD member country export credits was in 2005 Information on Category A and Category B projects reported for 2009 2010 Review of Members’ Survey Responses on the Environment and Export Credits  115th Meeting of the Participants to the Arrangement, 17 Nov. 2010 124th Meeting of the OECD Working Party, 18-19 Nov. 2010 The 2010 Review of Members’ Responses to the Survey on Measures Taken to Combat Bribery in Officially Supported Export Credits will be made public early next year.

(Times Live, Havana, 7 December 2010) President Jacob Zuma, on a state visit to Cuba, said a R210-million (US$31.6 million) credit line package had been finalised in an effort to uplift economic ties with the country. In his address to the SA-Cuba business forum in Havana, Zuma said the extension of credit guarantees from the government’s Export Credit Insurance Corporation to Cuba, to the value of R70-million, was one aspect of the package and will insure South African suppliers for exports to Cuba. South African exports to Cuba have fallen from R82-million in 2008 to only R1-million in 2010.

(Business Standard, New Delhi, 23 December 2010) A French ECA line of credit for two EPR reactors of Nuclear Power Corporation Ltd at Jaitapur in Maharashtra will come along with sovereign guarantees from the French and Indian governments. The extent of guarantee will depend on what portion of the cost the French credit will cover. NPCIL will buy two reactors from French energy major Areva, the Department of Atomic Energy will sign a separate agreement with the company for supply of uranium.

(Fern, Brussels, 1 December 2010) The European Parliament Committee on International Trade has voted in favour of amendments requiring Export Credit Agencies (ECAs) to respect the EU’s three pillars of sustainable development, as well as its development policies and objectives, including human rights. The plenary vote is forecast to take place on 19 January 2011.