(Bloomberg, Washington, 17 June 2015) General Electric Co. Chief Executive Officer Jeffrey Immelt threatened to move U.S. jobs overseas if Congress doesn’t reauthorize the Export-Import Bank’s charter, which expires at the end of June. “We’re not going to lose this business,” Immelt said...
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2015/06/30
Country: USA
ECAs: Export-Import Bank of the United States
(Newsweek, Washington, 8 June 2015) The nearly 80-year-old federally run Ex-Im bank claims to cover its own costs—even generating a surplus—thanks to the interest it collects on loans. It claimed to support $27.4 billion in U.S. exports last year, less than 2 percent of all American exports....
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2015/06/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Aircraft, Oil, Gas and Mining
(Al-Monitor, Washington, 11 June 2015) Companies from Saudi Arabia and the United Arab Emirates together pulled in about $12 billion in trade financing over the past five years — 8.5% of the $141 billion global total — to help pay for nuclear reactors, industrial power generators and new fleets...
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2015/06/30
Country: Australia, France, USA
ECAs: COFACE, Export-Import Bank of the United States
Issue: Arms Trade
(Military Technologies, Singapore, 1 June 2015) Satellite operators on June 1 expressed concern that the U.S. Export-Import Bank and France’s Coface, the world’s two most-active export agencies (ECAs) in funding satellite projects, might reduce their support for the industry in light of the...
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2015/05/30
Country: USA
ECAs: Export-Import Bank of the United States
(TXFNews, Washington, 30 April 2015) The US’ House of Democrats today set in motion a process to bypass the House Republican leadership that would force a vote on legislation to the extend the charter of the country’s export credit agency, the Export-Import Bank of the United States. The move...
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2015/05/29
Country: USA
ECAs: Export-Import Bank of the United States
(Forbes, Washington, 15 June 2015) [Comment/blog from Adam Andrzejewski of American Transparency, Burr Ridge IL] Between now and the end of June, Congress will decide the fate of the federal agency, Export – Import Bank (Ex-Im) of the United States, either by doing nothing and letting the bank...
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2015/04/30
Country: USA
ECAs: Export-Import Bank of the United States
(GAO, Washington, 15 April 2015) In six reports on the U.S. Export-Import Bank issued since March 2013, GAO presented findings and made 16 recommendations to improve Ex-Im's operations, summarized in this testimony in three broad areas: (1) risk management, (2) underwriting and fraud prevention...
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2015/04/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Corruption
(US Justice Dept., Washington, 22 April 2015) A former loan officer at the Export-Import Bank of the United States (Ex-Im Bank) pleaded guilty in federal court today for accepting more than $78,000 in bribes in return for recommending the approval of unqualified loan applications to the bank,...
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2015/04/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Aircraft, OECD, World Trade Organization
(The Hill, Washington, 15 April 2015) During congressional hearings, Republicans criticized Treasury Department officials for not negotiating with foreign governments to end subsidized export credit programs, as was mandated in the 2012 reauthorization bill. The Secretary of the Treasury had...
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2015/03/31
Country: USA
ECAs: Export-Import Bank of the United States
(Reuters, Washington, 19 March 2015) A bipartisan plan to save the U.S. Export-Import Bank seeks to extend the bank's term until 2019, increase lending to small businesses and overturn limits on coal-fired power plants projects, according to documents released on Thursday.
2015/03/31
Country: USA
Issue: Corruption
(FBI, Washington, 16 March 2015) United States Attorney for the District of Connecticut, today announced that on February 20, 2015, a federal grand jury in New Haven returned a 23-count indictment charging 3 individuals with conspiracy, fraud and money laundering offenses related to a multi-...
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2015/03/31
Country: Australia, USA
Issue: Climate Change, Oil, Gas and Mining
(Sydney Morning Herald, Sydney, 26 March 2015) The Abbott government has again put itself on a collision course with US President Barack Obama, this time over government funding for coal-fired power plants. After adopting a contrary position to the US on the Asian Infrastructure Investment Bank...
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2015/03/31
Country: Canada, USA
ECAs: Export Development Canada, Export-Import Bank of the United States
Issue: BRIC countries
(Financial Post, Johannesburg, 2 March 2015) Export Development Canada is providing South Africa’s national rail operator with a US$450-million loan to finance a major purchase of rail equipment from Quebec-based Bombardier. The rail operator, Transnet SOC Ltd., recently awarded a US$1.2-...
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2015/02/28
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Country: Brazil, Canada, Germany, Netherlands
ECAs: Atradius, Euler Hermes Deutschland AG, Export Development Canada
Issue: Common Approaches, Human Rights
Member: Both ENDS, Counter Current, Above Ground
(ECA Watch, Brussels, 18 February 2015) ECA Watch members Halifax Initiative, Both Ends and CounterCurrent, together with Brazilian organisation Forum Suape and Colombian organisation Movimiento Rios Vivos, published a new report entitled Export Credt and Human Rights:...
2015/02/28
Country: Italy, Netherlands, United Kingdom, USA
ECAs: Atradius, Export-Import Bank of the United States, SACE S.p.A., UK Export Finance (UKEF)
Issue: Corruption, Oil, Gas and Mining
(Morning Star, London, 20 February 2015) Recently released HSBC files reveal that the bank's Swiss branch held accounts for Jeffrey Tesler, a London lawyer...
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