Upstream, London, 7 February 2025) TotalEnergies anticipates the US Export-Import Bank will approve a $4.7 billion loan for its Mozambique LNG project within weeks. The approval would significantly support the project’s financing, as TotalEnergies moves forward with plans to develop the massive gas reserves in Mozambique. The deal comes as the UK’s export credit agency waivers are set to finalize.
ECAWatch Newsletter 2
EXIM Senior Team Meets Bulgarian Minster of Energy to Discuss Nuclear Energy Financing
EXIM, Washington, 12 February 12 2025) The Export-Import Bank of the U.S. met with Bulgaria’s Minister of Energy to discuss financing for two new nuclear reactors at Kozloduy NPP, following EXIM’s $8.6 billion Letter of Interest. The project supports U.S. businesses and aims to strengthen American energy dominance and global competitiveness.
Denmark’s export credit agency ‘learnt lessons’ from failed nickel project
(Global Trade Review, London, 12 February 2025) The Export and Investment Fund of Denmark (EIFO) reflected on lessons from the collapse of a nickel mining project in Brazil, which faced soaring costs and plunging prices. Despite some financial exposure, EIFO says the experience will shape its approach to future commodity deals, particularly in critical minerals.
Ukraine to Build Its First High-Tech Float Glass Manufacturing Plant
(Glass on Web, Nova Gorica, Slovenia, 19 February 2025) Ukraine’s first float glass manufacturing plant will be built in the Kyiv region by 2028, backed by €240 million from EFI Group’s NovaSklo. The project aims to boost the nation’s industrial sector, create 300+ jobs, and reduce reliance on glass imports. Germany’s Export Credit Agency is supporting equipment financing.
NiWest: the Australian mine looking to defy the nickel downturn
(Mining Technology, London, 19 February 2025) Alliance Nickel is advancing its NiWest Nickel-Cobalt Project in Western Australia, which could produce 20,000 tonnes of nickel annually over the first 12 years. Despite a challenging nickel market, the project’s definitive feasibility study shows it has the potential to deliver low-cost, high-quality outputs. The project is set to become a key player in Australia’s nickel industry, with environmental and economic sustainability at its core. Alliance Nickel is engaging with Export Finance Australia, the Canadian export credit agency (ECA), Samsung and South Korean ECAs.
Fiji – Debt for nature swaps
(Fiji Times, Suva, 21 February 2025) Interest payments on Fiji’s national debt absorb about $500 million or 16 % of all revenue, subsequently restricting the government’s ability to roll out significant capital infrastructure build, let alone implement nature conservation activities to protect its blue economy. About 30 % of Fiji’s total debt is external debt comprising borrowings from multilaterals such as ADB, World Bank, Asian Infrastructure Investment Bank, overseas export credit agencies such as EXIM Bank of China, the Japan International Cooperation Agency, European Investment Bank and the Australian Infrastructure Financing Facility for the Pacific.
How the Trump Administration’s Cuts to Development Assistance May Reshape Global Influence
Charged Affairs, Washington, 23 February 2025) The Trump administration’s cuts to USAID and foreign aid programs could reshape U.S. global influence, with a focus on strategic investments over humanitarian assistance. The shift may open opportunities for China to expand its influence, particularly in developing countries like the Cook Islands, where USAID’s withdrawal has led to Chinese funding. However, this move could also impact U.S. competitiveness in global infrastructure projects.
Meteoric maintains Caldeira momentum in bid to build low cost rare earths monster
Stockhead, Perth, |24 February) Meteoric Resources continues advancing its Caldeira project in Brazil, projecting industry-leading low operating costs and high potential returns. Despite a dip in share price, the company plans to finalize its pre-feasibility study soon and aims for production by 2027. Strategic partnerships, including agreements with U.S. and Canadian ECAs, are key to securing future funding.
Italy’s SACE to provide $350mln to two UAE companies for Africa infrastructure projects
(Zawaya, Dubai, 25 February 2025) Italy’s export credit agency, SACE, has committed $350 million in financial and insurance support to UAE companies AMEA Power and Metito Utilities. The funds will support renewable energy, water infrastructure, and sustainability projects in Africa. This initiative aligns with Italy’s Mattei Plan for Africa and aims to boost Italian exports in the region.
Kazakhstan and Nigeria Discuss Investments and Technology
(InBusiness, Astana, 25 February 2025) Kazakhstan and Nigeria held talks to boost bilateral cooperation, focusing on oil, gas, mining, and trade. Key discussions included joint ventures in petroleum, gas infrastructure, and mineral resource processing, alongside exploring trade routes and expanding market access. Both countries aim to enhance direct business engagement and financial cooperation, highlighted by a potential Memorandum of Understanding with NEXIM Nigeria.
