(Business Standard, New Delhi, 31 August 2021) Exim Bank of India has extended a line of credit of $100 million on behalf of the Indian government to the Africa Finance Corporation (AFC) to develop infrastructure in the continent and boost economic revival of countries in the region,...
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2021/07/29
Issue: BRIC countries
(Bloomberg, London, 15 July 2021) African nations plan to raise about $8 billion for a fund to help offset revenue losses for countries that lower cross-border tariffs, as part of a continent-wide free-trade agreement. The African Export-Import Bank, or Afreximbank, has already provided $1...
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2021/06/28
Country: China
Issue: BRIC countries, Debt
(Financial Times, London, 31 May 2021) Two ECA lines of credit offer a comparison of Chinese and non-Chinese ECA infrastructure loans in the same African country. A decade ago, when Ethiopia’s late leader Meles Zenawi was planning 5,000km of standard gauge railway, the landlocked country was...
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2021/02/28
Country: Portugal
Issue: BRIC countries
(Bloomberg, New York, 9 February 2021) Mota-Engil’s local unit is a joint venture with Shoreline Group, an independent Nigerian oil producer. The nearly $2 billion of financing required for the rail line will be sourced from Europe, Credit Suisse Group AG, Africa Finance Corp. and German state...
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2021/02/28
Issue: BRIC countries, Common Approaches, European Union, G20, OECD, Transparency
(TFX News, New York, 3 February 2021) The OECD Consensus has a long history but it’s still the only game in town. With the International Working Group now in stasis, is that a problem, or is it going to focus minds on reform? The ‘Arrangement on Officially Supported Export Credits’ started out...
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2020/11/30
Country: Mexico
Issue: BRIC countries
Bancomext, a state-owned bank and export credit agency in Mexico, has obtained a US$600mn credit facility from a syndicate of international banks that will support its response to Covid-19. Law firm Norton Rose Fulbright represented Banco Santander, Citibank and Commerzbank, the three banks...
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2020/11/30
Country: Brazil
Issue: BRIC countries, Debt
(Premium Times, Abuja, 9 November 2020) The Nigerian government has announced it plans to obtain a $1.2 billion (N459 billion) loan from Brazil. Funding for the programme will come from the Development Bank of Brazil and Deutsche Bank, with insurance provided by the Brazilian Guarantees and...
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2020/09/29
Country: Mexico, USA
ECAs: Export-Import Bank of the United States
Issue: BRIC countries, Climate Change, Oil, Gas and Mining
EXIM, Washington, 27 August 2020) The Export-Import Bank of the United States (EXIM) Board of Directors today unanimously voted to notify the U.S. Congress, pursuant to the law, of its consideration of two transactions that would facilitate the authorization of a $350 million general facility...
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2020/08/30
Issue: BRIC countries
(AllAfrica, Lagos, 25 August 2020) Since 1986, Nigeria has pursued an export-led strategy. This includes an emphasis on non-oil exports such as cocoa, groundnut, cotton, palm produce, rubber, and grains owing to perennial fluctuations in the prices of oil in the international market. One...
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2020/03/31
Country: China, India, USA
Issue: BRIC countries
(Sputnik, Moscow/New Delhi 3 March 2020) The US and China are still engaged in a trade dispute, and the spread of the coronavirus makes a deal less likely, at least in the short-term. The Indian Finance Ministry has revealed that amid the US-China trade war, its exports to the two countries...
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2020/01/29
Country: India
Issue: BRIC countries, Corruption
(New Kerala, New Delhi, 5 January 2020) After unearthing firms that made fake export credit claims, India's Department of Revenue has asked the Directorate General of Foreign Trade (DGFT) to seek regular compliance and verification reports from regulators. India refunds Integrated Goods and...
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2019/11/29
Country: China, USA
ECAs: EXIM Bank China, Export-Import Bank of the United States
Issue: Arms Trade, BRIC countries
(Fox News, Washington, 22 October 2019) Republican commentator Newt Gingrich in a Fox News opinion article argues that "In the age of Huawei, the Belt and Road Initiative (BRI), and China’s state-sponsored companies, we need the United States Export-Import Bank more than ever. This is a big...
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2019/10/30
Country: China, USA
Issue: Arms Trade, BRIC countries
(Newsweek, Washington, 21 October 2019) Newt Gingrich - Opinion (How the Republican right sees EXIM): In the age of Huawei, the Belt and Road Initiative, and China's state-sponsored companies, we...
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2019/10/30
Country: China, Russia, USA
Issue: BRIC countries
(Quartz Africa, New York, 22 October 2019) The first-ever Russia-Africa summit will be held from Oct. 23-24 in Sochi, Russia, marking the culminating point of the return of Russia to Africa, with more than 50 African leaders and 3,000 delegates invited. This convening is only another...
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2019/10/30
Country: China
ECAs: Sinosure
Issue: BRIC countries
(Xinhua, Beijing, 27 October 2019) China's only policy-oriented insurer specializing in export credit insurance reported steady business growth in the first three quarters of this year. China Export & Credit Insurance Corporation, also known as SINOSURE, had served over 110,000 clients,...
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