(Australian Council for International Development, Canberra, 14 Feb, 2019) ACFID has raised concerns about reform to Australia’s export credit agency - EFIC - as part of the Australian Government’s Pacific ‘step-up’ and is calling for the legislation to be referred to a parliamentary committee...
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(Sydney Morning Herald, Sydney, 8 November 2018) Australia has announced that at least A$2 billion has been earmarked for grants and long-term projects in the Pacific and Timor Leste, to be administered by a new Australian Infrastructure Financing Facility. An extra A$1 billion will be made...
more(Global Trade Review, London, 22 August 2018) Peruvian miner Minsur has secured US$900mn in project financing for its Mina Justa copper mine. The lenders are: BBVA Continental, BBVA, Banco de Crédito del Perú, Crédit Agricole, Export Development Canada (EDC), Export Finance and Insurance...
more(Australian Associated Press, Sydney, 1 May 2018) Papua New Guinea’s prime minister has dismissed as “fake news” a report that claims a partially Australian-funded liquefied natural gas project is failing to deliver a promised economic boom to...
more(Associated Press Australia, Sydney, 28 February 2018) The Defence Department can't say exactly how many Australian jobs will be created out of the Turnbull government's plan to make the country a top 10 global arms exporters in the next decade. The issue was canvassed during a robust exchange...
more(Guardian, Sydney, 30 January 2018) The financial aspects of the Turnbull government’s plan to turn Australia into an arms exporting powerhouse are baffling, a leading defence expert says, but the decision to promote defence products overseas is welcome. Andrew Davies, the Australian Strategic...
more(The Australian, Sydney, 11 September 2017) A ban on government-backed loans for onshore coal and resource export operations will be overturned in the “national interest” to help fund billions of dollars in projects that are threatened by the growing reluctance of the major banks to back them...
more(Guardian, London, 6 April 2017) Environmental action groups including Greenpeace, Oxfam and GetUp have signed an open letter to Australia’s export credit agency asking it not to fund a controversial new coal mine. The groups say a loan to the proposed Resgen Boikarabelo mine in South Africa...
more(Guardian Australia, 16 January 2017) Australia’s export credit agency could end up financing companies that have axed their domestic workforces to manufacture more cheaply overseas, a Senate inquiry has been told. The Export Finance and Insurance Corporation could become instrumental in the “...
more(Jubilee Australia, Sydney, 17 January 2017) Jubilee Australia has demanded that no expansion of Efic's mandate be allowed unless the institution improves its transparency and due diligence. Jubilee's concerns, summed up in an article in the...
more(Jubilee Australia, 21 November 2016, Sydney) Jubilee Australia has urged Efic to reject an application to take part in financing a new coal project in the Waterberg region of South Africa. Efic announced in September that it was considering financing the Boikarabelo mine, a project of the...
moreAustria's OeKB raises Iran export financing
Press TV, Tehran, 28 September 2016) The Central Bank of the Islamic Republic of Iran (CBI)...
(Jubilee Australia, Sydney, 9 September 2016) The Jubilee Australia Research Centre and Oxfam Australia have submitted comments on Efic Policies and Procedures for environmental and social review of transactions prior to a 2016 government review. They note that, although Efic’s approach to...
more(Huffington Post, 2 May 2014) The Nation, Huffington Post,...
more(Herald Sun, Melbourne, 18 March 2014) Mining giants BHP Billiton and Rio Tinto have been granted a $110 million “soft loan” from taxpayers to help expand the world’s biggest copper mine, in Chile. Australia’s export credit agency, the Export Finance and Insurance Corporation, has extended the...
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