(Financial Management Magazine, Durham, 4 November 2022) As noted in our October What's New, ten European countries had agreed to spell out this year how they will limit export finance support for overseas fossil fuel projects. But they shelved...
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(Reuters, Brussels, 2 November 2022) Italy is attempting to weaken a pledge 10 European governments intend to make to stop export credit support for fossil fuel projects. The pressure from Italy comes as delegates from nearly 200 countries prepare for a United Nations climate change summit next...
more(Oil Change International, Washington, 26 September 2022) the French Government has published a new policy that restricts public finance for fossil fuels from the French export credit agency, BPIFrance. This policy is meant to implement France’s commitment to end international public finance...
more(European Commission, Brussels, 4 May 2022) The European Commission has approved, under EU State aid rules, the reintroduction of a Danish short-term export credit scheme. Under the scheme, the Danish State can cover risks of single export transactions. The scheme was originally approved in...
more(ECA Watch, Ottawa, 29 March 2022) As governments struggle to find fossil fuel supplies to offset dependence on imports from Russia, and transnational oil firms...
more(Global Trade Review, London 19 January 2022) A planned European Union law requiring large and businesses and financial institutions to conduct human rights and environmental due diligence should also apply to export credit agencies (ECAs), activists say. The initiative has strong support from...
more(Lexology, London, 24 August 2021) ASHURST LLP has produced a 12 page overview of official export credit agencies in the EU, OECD, UK and globally, which broadly reviews ECA history, policies, competition, budgets, sector agreements, etc. It notes that as recently as the turn of the century,...
more(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...
more(Bankwatch, Prague, 4 September 2020) Despite being the biggest class of public finance institutions operating internationally, export credit agencies (ECAs) are rarely subject to any public scrutiny. European ECAs self-declare compliance with the non-binding OECD Common Approaches standards,...
more(ECA-Watch, Amsterdam, 29 June 2020) As part of continued advocacy with the European institutions on Export Credit Agencies (ECAs), European groups are working to enhance the reporting requirements of the EU ECAs under EU...
more(Lexology, London, 30 April 2020) While businesses lobby governments for support, there have been suggestions that ECAs may need to step up to fill a reduced commercial debt capacity for aircraft. During the 2008-2009 global financial crisis, European ECAs financed up to a third of annual...
more(ECA Watch, Ottawa, 30 May 2020) This month's news is dominated by vast amounts of export credit funding approved to shore up companies facing an international collapse of consumption, production and trade resulting from the world-wide COVID-19 pandemic. How much government support is going to...
more(Global Trade Review, London, 19 June 2019) Hermes, OeKB and Serv – the export credit agencies (ECAs) of Germany, Austria and Switzerland respectively – have agreed to join forces to improve opportunities for their exporters in the face of increased competition from Asia. While the statement...
more(European Ombudsman, Brussels, 17 July 2018) Following a complaint launched by ECA Watch members, the European Ombudsman has determined that the European Commission wrongly decided not to carry out a human rights impact assessment before agreeing to the 2015 Sector Understanding on Export...
more(Finance & Trade Watch and CEE Bankwatch, Dec. 2017) Export credits are big business. Members of the industry’s Berne Union, both state and private, insured approximately USD 1.9 trillion per year between 2012 and 2016, of which USD1 trillion was state ECA insured. That amount far...
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