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2011/08/04
(OECD 30 August 2011, Paris) The September 2011 Arrangement on Officially Supported Export Credits [TAD/PG(2011)13] is now available. This version of the Arrangement on Officially Supported Export Credits replaces the March 2011 version [TAD/PG(2011)4]; it includes all modifications agreed to the... more
2011/08/03
(The National, 24 August 2011, UAE) Investment and trade insurers are poised to resume offering insurance for businesses in Libya once fighting eases. Financing trade deals in Libya has become trickier since civil war first flared in February, with the country being blacklisted by many banks and... more
2011/08/02
(Pittsburgh Business Times, 12 August 2011) The U.S. Export-Import Bank has set a record for loan authorizations, topping $24.5 billion with nearly two months to go in its fiscal year. The financing, which includes more than 2,500 transactions with small businesses, supported more than $31.5... more
2011/08/01
(LNG Watch, 11 August 2011, Port Moresby) A landowner frustrated at being overlooked for employment and at unequal distribution of money paid for damages to the environment, attacked two expatriate employees with a machete at the Komo LNG international airfield, closing down construction at the... more
2011/07/08
(Left-Foot-Forward, London 8 July 2011) Away from the political maelstrom of the News of The World hacking scandal, the UK government released the 2010-11 annual reports and accounts of the Export Credit Guarentee Department (ECGD). ECGD helped facilitate the £114 million sale of an “Airbus multi-... more
2011/07/07
(Reuters, London, 20 July 2011) Bahrain received a financial boost with the signing yesterday of loan documents on the US$300m Muharraq sewerage waste treatment project which is being procured under a public private partnership (PPP). South Korean export credit agency Kexim will provide political... more
2011/07/06
Texas Insider reports that the Cato Institute is pressing for the US Export-Import Bank to limit it's activities only to U.S. exporters which face unfair... more
2011/07/05
(Reuters, Atlanta, 21 July 2011) On the face of it, American Airlines would not appear to be in a good position to buy 460 planes, as its parent, AMR Corp has posted more quarterly losses than profits in recent years. But that is where aircraft financing and leasing companies come in... Airbus and... more
2011/07/04
(inewsone, Berlin, 15 July 2011) After deciding to phase out nuclear power plants by 2022, Germany is now debating whether to support its nuclear industry in setting up nuclear plants in other countries. Germany has a multi-billion Euro nuclear industry which employs around 33,000 people. ‘We do... more
2011/07/03
(Dow Jones, Rio de Janeiro, 12 July 2011) Brazilian mining company MMX Mineracao e Metalicos SA said it hired Banco Itau BBA and WestLB do Brasil to raise $1.8 billion to finance expansion of an iron ore mine in Minas Gerais state. The banks will raise the new funds from national and international... more
2011/07/02
(ECA Watch, Brussels, 21 June 2011) The 14th consultation meeting between CSOs and the Working Party on Export Credits and Credit Guarantees and the Participants to the Arrangement on officially supported Export Credits took place in Paris on June 21 2011. The agenda of this meeting covered three... more
2011/07/01
(stopwapenhandel, Amsterdam, 24 July 2011) Rarely mentioned in the discussions on the Greek crisis is their history of sustained excessive military spending over the past decade, which includes support from official export credit agencies. It is safe to state that if Greece had allocated just half... more
Briefings & reports from ECA watch members
2011/06/16
Country: Belgium
Issue: Human Rights, Transparency
Member: Both ENDS, Corner House, Counter Current, Finance & Trade Watch, Euronatura, FERN, Friends of the Earth Japan, Above Ground, Les Amis de la Terre, Observatory on Debt in Globalization, , Re:Common, urgewald
(June 29, 2011) A press release from ECA-Wach, Amnesty International and Eurodad. It welcomes EU permanent representatives' endorsement of the European...
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2011/06/07
(The Financial, Hamburg, 24 June 2011) The readers of the English Trade Finance Magazine again voted the Export Credit Guarantees of the Federal Republic of Germany (Hermes Cover) "Best Global ECA". Thus the German export credit guarantee scheme takes an outstanding position internationally. What... more
2011/06/06
(Reuters, Washington, 15 June 2011) The US needs to use its export financing tools more aggressively to confront growing competition from China and other developing countries not bound by the same rules as rich nations, the head of the U.S. Export-Import Bank said on Wednesday... That could include... more