ECA Watch applaudes European Ombudsman demand for greater EU ECA transparency on human rights and environmental impacts

(ECA Watch, Amsterdam, 28 June, 2018) ECA-watch applauds the European Ombudsman’s ruling on maladministration of the European Commission in checking compliance of European Export Credit Agencies with EU law In a landmark ruling1, the European Ombudsman has found that the European Commission failed to fulfil its legal obligation to assess the compliance of EU-based official Export Credit Agencies (ECAs) with EU laws and human rights obligations. The Ombudsman has recommended that changes be introduced to the EC’s reporting procedures. If implemented, the ruling could mean that EU-based ECAs – national bodies that give financial support to companies doing business overseas, including in ‘risky’ markets – are to be named and shamed where their activities fail to meet EU human rights and environmental obligations.