European Parliament demands that Export Credit Agencies open up

(ECA Watch, FERN, Both Ends, Brussels, 6 April 2011) The European Parliament in its plenary session, on 5 April, adopted a proposal to regulate Export Credit Agencies (ECAs) that will force them to become more transparent on where their funds come from and go to, as well as how they charge for social and environmental risks. Furthermore, the Parliament requires ECAs to comply with EU human rights objectives in their activities, and to phase out the subsidising of fossil fuel projects in line with commitments adopted by the G20 in 2009.  The policy also justifies the Jubilee Debt Campaign’s concerns about export credit debt