(ECA Watch, Ottawa, 30 March 2020) Our "export credit" online alerts this month are flooded with news of coronavirus pandemic generated government subsidies for business (and some for workers), including special export credit increases. Here are but a few links by country:...
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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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2020/03/31
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
(Construction News, London, 3 March 2020) UK financing of foreign projects designed to boost British supply chain involvement is booming. Ghana’s Kejetia open-air market is the largest in West Africa and is also a health and safety nightmare. Ghana decided to create a more modern facility and...
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2020/03/31
Issue: Debt
(Daily Monitor, Kampala, 24 February 2020) Maris Wanyera, the Ministry of Finance acting director for debt and cash policy management, said on Friday the conference, to be attended by delegates from 16 countries, under the theme “sustainable public debt management and a strengthened economic...
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2020/03/31
Country: Canada
ECAs: Export Development Canada
Issue: Human Rights, Large Dams
Member: Above Ground
(Amnesty International, Ottawa, 14 March 2020) In 2016, Export Development Canada - a crown corporation that claims its transactions are “environmentally and socially responsible” - approved millions of dollars in loans to Empresas Públicas de Medellin, the company building the HidroItuango dam...
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2020/03/31
Issue: Climate Change, European Union, Renewables
(ReNews, Winchester, 10 March 2020) The European Commission has presented a new Industrial Strategy to help Europe achieve its goal of climate neutrality by 2050, while maintaining European industry's global competitiveness. These include comprehensive measures to modernise and decarbonise...
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2020/03/31
Country: Canada
ECAs: Export Development Canada
Issue: Climate Change, Oil, Gas and Mining
(National Observer, Ottawa, 25 March 2020) Environmental groups praised political parties for coming together to help Canadians battle the effects of the coronavirus. They also argued that the new law’s broadening of Export Development Canada (EDC)’s mandate will make it easier to direct more...
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2020/03/31
Issue: Climate Change, End Coal Financing, Oil, Gas and Mining
Member: Bank Track
(Bank Track, Nijemgen, 20 March 2020) The latest version of the most comprehensive report on global banks' fossil fuel financing, Banking on Climate Change 2020, was released today, revealing that 35 global banks have not only been sustaining but expanding the fossil fuel sector with more than...
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2020/03/30
Country: France, Spain, USA
Issue: Aircraft
(Aviation Today, Rockville MD, 24 March 2020) Airbus partially resumed assembly and production work in France and Spain on March 23, while Boeing will temporarily suspend the majority of its U.S.-based airplane production activity beginning March 25 as the two commercial aerospace giants...
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2020/03/29
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Arms Trade, European Union
(Jane's, London, 11 March 2020) The UK government is proposing to create a GBP1 billion (USD1.3 billion) fund to support British defence and security exports. The “facility” would be overseen by UK Export Finance, the country’s export credit agency, which gives loans to help foreign countries,...
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2020/03/29
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, OECD, Oil, Gas and Mining
Member: Global Witness
(Business Green, London, 17 March 2020) The UK's export credit agency was today accused of breaching OECD guidelines governing multinational organisations, with campaigners accusing the government of "rank hypocrisy". NGO Global Witness has lodged a complaint with the Paris-based OECD, which...
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2020/03/29
Country: Australia, China, Indonesia, Japan
ECAs: EXIM Bank China, Japan Bank for International Cooperation
Issue: Climate Change, Oil, Gas and Mining
(Bloomberg, 8 March 2020) Moves by some of the world’s biggest banks to end coal financing for the sake of the planet was supposed to create major headaches for companies like Whitehaven Coal Ltd. Yet there was the Australian miner on a conference call last month announcing the refinancing and...
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2020/03/29
Issue: European Union, OECD, Oil, Gas and Mining, Renewables
(National Law Review, Western Springs IL, 26 March 2020) On 19 March 2020, the European Commission adopted a temporary framework for State aid to support the economy amidst the consequences of the Coronavirus (COVID-19) outbreak. The temporary framework provides for five types of aid, including...
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2020/02/29
(ProShare, Lagos, 17 February 2020) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) insured businesses globally to the tune of $10.86bn in 2019. The coverage was part of the report of the ICIEC reviewing its performance and activities for 2019. It translated to...
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2020/02/29
Country: Germany
ECAs: Euler Hermes Deutschland AG
(MENAFN, Cairo, 8 February 2020) According to the Head of Deutsche Bank's representative office in Cairo, a higher economic growth rate, improved credit conditions, privatisation of public companies and listings in the local exchange will help Egypt to move towards a more private-sector-lead...
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