(Gulf News, Dubai, 13 December 2020) Etihad Credit Insurance (ECI), the UAE Federal export credit company, and The Israel Foreign Trade Risks Insurance Corporation (ASHR’A) have agreed to jointly create a strategic cooperation in supporting exports, trade and investment; explore new business...
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2020/12/30
Country: China, USA
ECAs: Export-Import Bank of the United States
Issue: Human Rights, Transparency
(Market Screener, Annecy, 8 December 2020) EXIM, the U.S. export credit agency that is supposed to support U.S. jobs by financing exports of U.S.-made goods, is instead considering extreme proposals to destroy requirements that tie financing to domestic content rules. Under the guise of...
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2020/12/30
Country: China, USA
ECAs: EXIM Bank China, Export-Import Bank of the United States, Sinosure
Issue: Common Approaches, OECD, World Trade Organization
(The Hill, Washington, 17 December 2020) [An example of political influences on EXIM vs the OECD's purely economic free market level playing field.] One year ago, under President Trump’s leadership, Congress came together across party lines to re-authorize EXIM, our nation’s export...
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2020/12/29
Country: Ireland, Norway, USA
ECAs: Export-Import Bank of the United States
Issue: Aircraft
(Irish Times, Dublin, 7 December 2020) Norwegian Air Shuttle secured a crucial lifeline on Monday when the High Court granted the embattled carrier and five Irish subsidiaries protection from creditors. Norwegian owes creditors, mainly aircraft lessors and banks, more than $5 billion (€4.1...
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2020/11/30
Country: Brazil, China, Japan, Mexico, South Africa, USA
ECAs: Japan Bank for International Cooperation
Issue: Climate Change
(Automotive News Europe, Detroit, 26 November 2020) Japan's state-owned export credit agency has agreed to give Nissan up to $2 billion as part of a credit agreement to help it finance car sales in the U.S. The money should help Nissan to sell cars in the world's second-biggest auto market...
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2020/11/30
Country: Canada, Indonesia, United Kingdom
ECAs: Export Development Canada
Issue: Corruption
(Compliance Week, Boston, 6 November 2020) The U.K. Serious Fraud Office (SFO) on Thursday confirmed it is investigating plane maker Bombardier over suspected bribery and corruption in relation to contracts and orders from Indonesian airline carrier Garuda Indonesia. According to the...
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2020/10/28
Country: China, USA
ECAs: EXIM Bank China, Export-Import Bank of the United States
(Fox News - Opinion, Washington, 17 October 2020) Kimberly Reed: The latest manifestation of China’s economic aggression is the increasing use of export financing to distort fair and free-market competition. In 2019 alone, communist China provided three times the export financing of the next-...
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2020/10/28
Country: USA
(USDA, Washington, 5 October 2020) On October 5, 2020, the U.S. Department of Agriculture announced availability of export credit guarantees for sales of U.S. agricultural commodities under the Commodity Credit Corporation’s (CCC) Export Credit Guarantee Program (GSM-102) for fiscal year 2021....
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2020/09/30
Country: China, USA
ECAs: EXIM Bank China, Export-Import Bank of the United States, Sinosure
(EXIM, Washington, 9 September 2020) EXIM announced today the appointment of 17 members to its Advisory Committee, and establishment of a new EXIM Advisory Committee Subcommittee on Strategic Competition with...
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2020/09/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Aircraft, Transparency
(New York Times, Fairfax, 4 September 2020) In 1971 at the urging of banking lobbyists, the U.S. Export-Import Bank created the Private Export Funding Corporation (PEFCO), a private entity owned by over two dozen banks and a handful of big corporations. It has operated under consecutive 25-year...
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2020/09/29
Country: Mexico, USA
ECAs: Export-Import Bank of the United States
Issue: BRIC countries, Climate Change, Oil, Gas and Mining
EXIM, Washington, 27 August 2020) The Export-Import Bank of the United States (EXIM) Board of Directors today unanimously voted to notify the U.S. Congress, pursuant to the law, of its consideration of two transactions that would facilitate the authorization of a $350 million general facility...
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2020/09/29
Country: Brazil, Canada, China, France, Germany, India, Italy, Japan, Korea, Russia, United Kingdom, USA
ECAs: COFACE, Euler Hermes Deutschland AG, EXIM Bank China, Export Development Canada, Export Import Bank of Korea, Export-Import Bank of the United States, Japan Bank for International Cooperation, SACE S.p.A., UK Export Finance (UKEF)
Issue: Transparency
(Global Trading Magazine, Dallas, 25 September 2020) At the Sept. 9 end of the two-day 2020 G12 Heads of Export Credit Agencies (ECAs) meeting, which EXIM Bank hosted virtually from its Washington, D.C. headquarters, the 12 Heads of ECAs issued its first-ever G12 joint statement. ECAs involved...
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2020/09/28
Country: Canada, Germany
ECAs: Euler Hermes Deutschland AG
Issue: Oil, Gas and Mining
(Business Wire, Saskatoon, 31 August 2020) Gensource Potash Corporation, a Canadian fertilizer development company focused on sustainable potash production, announces the successful completion of the next major milestone for its Tugaske Project. Gensource has now received approval of its...
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2020/08/31
Country: USA
(The Independent, Dhaka, 23 August 2020) The Commodity Credit Corporation (CCC) of the United Stated has approved Bangladesh's Prime Bank to participate in the Export Credit Guarantee Program (GSM-102) of United States Department of Agriculture (USDA) for the smooth import of US agricultural...
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2020/08/30
Country: Iraq, USA
(New York Times/Reuters, New York, 19 August 2020) General Electric Co said it had signed two new agreements valued at over $1.2 billion with the Iraqi Ministry of Electricity, to undertake maintenance programs across key power plants in the country and bolster its transmission network. The U.S...
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