(Korea Times, Seoul, 14 December 2020) The Export-Import Bank of Korea (Eximbank) said Monday it will provide $500 million (545 billion won) in financial support for a major integrated liquefied natural gas (LNG) project in Mozambique. The project financing by the state-run lender is aimed at...
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2020/12/30
Country: Italy, Japan, Korea, USA
ECAs: Export Import Bank of Korea, Export-Import Bank of the United States, Japan Bank for International Cooperation, SACE S.p.A.
Issue: Climate Change, Corruption, Debt, Human Rights, Oil, Gas and Mining
2020/12/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Debt
(The NEWS, Islamabad, 11 December 2020) The UK on Thursday asked Pakistan to expedite utilisation of 1.5 billion pounds of annual UKEF credit line by facilitating UK businesses investing in and exporting to the South Asian economy. British High Commissioner to Pakistan Christian Turner said £1....
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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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2020/11/30
Issue: Debt, G20
(International Chamber of Commerce, Paris, 9 November 2020) An advisory group to the International Chamber of Commerce (ICC) has issued a call for G20 leaders to take action to avert the risk of widespread insolvencies amongst small- and medium-sized enterprises (SMEs) globally, due to the...
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2020/10/28
ECAs: EXIM Bank China
Issue: Debt
(Agence France-Presse, Washington, 22 October 2020) Ratings agency Standard & Poor's (S&P) declared Zambia's government in default on Wednesday, October 21, after the African nation missed an interest payment. The mineral-rich southern African country has seen its debt surge to nearly $...
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2020/10/28
ECAs: Export Import Bank of Korea, SACE S.p.A., UK Export Finance (UKEF)
Issue: Debt, European Union, OECD
(Lexology, London, 14 October 2020) The EU Commission has published a 4th amendment to its 19 March 2020 guidance document on state aid in reaction to the COVID-19 outbreak (...
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2020/08/30
Country: Italy
ECAs: SACE S.p.A.
Issue: Debt, European Union
(Market Screener, Annecy, 13 August 2020) Under EU state aid rules, the European Commission (EC) has approved a €2bn ($2.37bn) Italian scheme to support the trade credit insurance market in the context of the coronavirus outbreak. Italy notified the Commission of a State guarantee scheme for...
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2020/08/29
Issue: Climate Change, Common Approaches, Debt, End Coal Financing, Human Rights, Renewables, Transparency
Member: Both ENDS, Counter Current, Friends of the Earth Japan, Friends of the Earth USA, Les Amis de la Terre
(ECA Watch members, 10 August 2020) This 9 page report finds that while ECA responses to COVID-19 are still quickly evolving, it’s now clear that these institutions are:
- Providing more favorable financing terms;
- Expanding the geographic scope of the projects and companies...
2020/06/29
Country: Australia, Japan
Issue: Climate Change, Debt, Oil, Gas and Mining
(ICLG, London, 23 June 2020) A syndicate of company bank lenders and ECAs have enlisted Latham & Watkins to act as legal counsel in refinancing approximately USD 8.3 billion for one of the world’s largest oil and gas projects, in Australia. The development, named the Ichthys liquefied...
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2020/06/29
Issue: Debt, European Union
(European Council, Brussels, 24 June 2020) The EU is temporarily relaxing banking rules in order to maximise the capacity of banks to lend money and support households and businesses to recover from the COVID-19 crisis. The banking package adopted today provides targeted and exceptional...
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2020/04/30
Country: Sweden
Issue: Debt
(Global Trade Review, London, 15 April 2020) The outbreak of Covid-19 has left Africa facing the prospect of its first recession in 25 years, with countries dependent on oil exports or struggling with political instability on the frontline. Significant efforts to keep African trade moving have...
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2020/04/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Debt
(JD Supra LLC, Sausalito, 13 April 2020) In response to the economic slowdown caused by the COVID-19 pandemic, the Export–Import Bank of the United States (“EXIM Bank”), the official export credit agency of the United States, has adopted four measures to help U.S. exporters and their suppliers...
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2020/04/30
Country: Finland, France, Germany, Italy, Norway, USA
ECAs: Euler Hermes Deutschland AG, Export-Import Bank of the United States
Issue: Debt
(Bloomberg, Miami, 24 April 2020) After missing out on U.S. emergency aid, Norwegian Cruise Line Holdings Ltd. and Royal Caribbean Cruises Ltd. are benefiting from a debt-holiday initiative by Germany’s export credit agency, Euler Hermes Aktiengesellschaft. The coronavirus pandemic has hammered...
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2020/04/30
Country: China, Germany, Turkey, United Kingdom
Issue: Debt, European Union
(The Asset, 22 April 2020) European Union rules on state aid to private sector companies, including short term export credits, have been suspended until December as national governments step up financial packages to rescue their corporations. A recent report notes that the Covid-19 crisis has...
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2020/04/30
Country: Australia
ECAs: Export Finance & Insurance Corporation Australia
Issue: Debt
(American Reporter, Boston, 26 April 2020) COVID-19 has drastically affected the economy. Exporters and Importers are unable to conduct business because of the transport restrictions. Australia’s export credit agency (ECA), Export Finance Australia has come ahead to help the exporters. It...
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