(Hindustan Times, Mumbai, 10 December 2005) How about starting your own airline? This article outlines the economics: all you need is US$2 million in paid up capital to start a regional airline with an aircraft of less than 80 seats and ECAs and banks will finance up to 95% of the cost of aircraft.

(Proyecto Gato, Brussels, 21 December 2005) Despite the cancellation of export permits in 2004 and 2005, the Belgian ECA Ducroire agreed to reimburse New Lachaussée some €8 million in damages for its inability to complete construction of an ammunition factory in Tanzania, seen by the UN as a potential conduit for illegal arms flows to the Congo.

(ECAW, Paris, 21 December 2005) With all the press coverage this week of WTO talks in Hong Kong dominated by the question of agricultural subsidies, it is interesting to look back at the history of this issue and see what role export credit agencies have played in an ongoing North/South conflict.

(Pacific Environment, San Francisco, 19 December 2005) In a stunning reversal of institutional integrity, the European Bank for Reconstruction (EBRD) declared the scandal-ridden Sakhalin II oil and gas project Environmental Impact Assessment (EIA) “fit for purpose.” This decision comes despite 3 years of EBRD insistance that the project is “unfit for purpose”, because it doesn’t comply with its environmental policies, and while the environmental impacts on the ground have worsened. NGOs are outraged, while the Export Credit Agencies of the U.S., UK and Japan now consider the controversial project for support.