Index for January 2013

Volume 12, Issue 1

  • (ECA Watch Austria, Istanbul, 10 January 2013) The Turkish State Council ruled on January 7 in favour of the legal case filed by the Chamber of Architects and Engineers (TMMOB) against the construction of the Ilisu dam project, ordering an immediate halt to the controversial dam construction in southeast Turkey. The Council of State concluded that the Ilisu dam construction on the Tigris River, proceeding without the legally required Environmental Impact Assessment (EIA), goes against Turkish environmental law and EIA regulations.
  • (Creditman, London, 18 January 2013) A revised Short Term Communication from the EU Commission came into effect on 1 January 2013 and will be valid until 31 December 2018. As a result UK Export Finance, in common with its counterparts in other EU countries, remains prohibited from providing trade credit insurance cover for exports to buyers in the EU and in certain other OECD countries where the risk horizon is under two years.
  • (Business Insurance, New York, 24 January 2013) China's export credit insurance and overseas investment insurance coverage increased 35.8% to $318.23 billion in 2012... According to data from the China Export & Credit Insurance Corporation (Sinosure), the insurance protection covered 14.3% of China's total exports, which is higher than the general average of 10%.
  • (Business Insurance, New York, 15 January 2013) PICC Property & Casualty Co. is set to challenge the China Export & Credit Insurance Corp.’s (Sinosure) monopoly in the short-term export credit insurance business after becoming the first insurer to secure the Finance Ministry’s approval to provide short-term export credit insurance from Jan. 1, 2013.
  • (MENAFN / Qatar News Agency, 13 January 2013) Russia signed an 800 million export credit deal with Serbia on Friday and is in talks over a possible 1 billion loan to Belgrade in 2013 to stabilize its budget, Russian Finance Minister Anton Siluanov said on Friday.
  • OECD releases export credit documents

    (ECA Watch, Ottawa, 30 January 2013) The Export Credit Division of the OECD recently released a number of documents on their web site:
    • 1. Official Export Credit Commitments to IDA-Only Countries (9/1/13);
    • 2. The text of the 2013 Arrangement on Officially Supported Export Credits approved last year (11/1/13)
    • 3. A summary of member ECA cash flows (1996-2011), apparently intended to "monitor" compliance with the WTO's ASCM, which prohibits premiums that subsidize exports (14/1/13);
    • 4. Responses to the October 2012 Survey on Measures Taken to Combat Bribery in Officially Supported Export Credits (7/11/12)
    • 5. The last summary of Category A & B projects used in part to monitor compliance with the Common Approaches was for the year 2009 and published (10/12/10).
    • 6. The last published "minutes" of the Working Group are for their 14-15 April 2011 meeting (April/11). Their latest meeting was in mid-November 2012.