(Market Screener, Annecy, 13 August 2020) Under EU state aid rules, the European Commission (EC) has approved a €2bn ($2.37bn) Italian scheme to support the trade credit insurance market in the context of the coronavirus outbreak. Italy notified the Commission of a State guarantee scheme for...
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2020/08/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Oil, Gas and Mining
(MSN News, London, 12 August 2020) Boris Johnson is poised to sign off new rules barring the UK government’s chief foreign lender from offering financial support to foreign fossil fuel projects. The new policy, which could come as soon as this week, will rule out future loans and financial...
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2020/08/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
(Automotive Logistics, London, 10 August 2020) Ford has received a £500m ($648m) guarantee from UK Export Finance (UKEF) to help it maintain exports of engines and transmissions from the UK. The guarantee, which was given in July, is part of a planned £625m loan facility from commercial banks...
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2020/07/30
Country: Portugal
(Reuters, Lisbon, 24 July 2020) Portugal's government has launched a plan aimed at boosting its export sector to alleviate the impact of the coronavirus pandemic, with a goal of increasing exports to 53% of gross domestic product by 2030 from 44% last year. Last year, exports of goods and...
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2020/07/30
Country: Germany
ECAs: Euler Hermes Deutschland AG
Issue: Climate Change
(Zawya, Dubai, 26 July 2020) The proceeds of the loan, which is the first Green ECA loan in Saudi Arabia, are being used to purchase buses from Germany for Saudi Arabia's public transport network. The buses will help reduce the greenhouse gas emissions and air pollution as well as alleviate...
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2020/07/30
Country: Canada, France, United Kingdom
Issue: Climate Change, G20, Oil, Gas and Mining, Transparency
(Common Dreams, Portland, 6 July 2020) In an open letter to Emmanuel Macron and Rémy Rioux Common Dreams notes that France is embarking on an important diplomatic effort this November, bringing together 450 global development banks that control $2 trillion in public money. The objective? For...
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2020/07/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Corruption
(CITY AM, London, 6 July 2020) A report released today by Spotlight...
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2020/07/29
Country: United Kingdom, USA
ECAs: Export-Import Bank of the United States
Issue: Aircraft
(JSUPRA, Sausalito, 16 July 2020) The use of Export Credit Agency (ECA) financing in the aviation industry has ebbed and flowed over the years, and it is often during turbulent times that it has proved to be most popular. Given the current COVID-19 pandemic and the unprecedented downturn...
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2020/07/29
Country: France, Italy, Japan, Netherlands, South Africa, United Kingdom, USA
ECAs: Atradius, Export-Import Bank of the United States, Japan Bank for International Cooperation, Nippon Export and Investment Insurance, SACE S.p.A., UK Export Finance (UKEF)
Issue: Climate Change, Oil, Gas and Mining
(Climate Change News, London, 10 July 2020) A decade after prospectors struck gas off Cabo Delgado, northern Mozambique, a consortium led by Total is signing contracts worth $16 billion to exploit it. One of the biggest investments in Africa, the project to extract, liquefy and export gas...
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2020/06/29
Country: Denmark, United Kingdom
ECAs: Euler Hermes Deutschland AG, SACE S.p.A.
Issue: Renewables
(Reuters, London, 16 June 2020) Britain’s National Grid has secured a $734 million loan to help finance the development of the 2 billion euro ($2.26 billion) power link it is building between Britain and Denmark. The multi-export credit agency covered green loan is made up of $488 million from...
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2020/06/29
Country: Russia
MOSCOW, June 4. /TASS/. Eximbank of Russia, a part of of the Russian Expo Center Group, opened the first correspondent account in Uzbek currency for Russian banks, at the same time opening several accounts in rubles for Uzbekistan's banks, which is aimed at expanding the capabilities of...
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2020/06/29
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
(Insurance Journal, San Diego, 4 June 2020) The UK government has created a £10 billion (US$12.5 billion) reinsurance scheme designed to help businesses during the COVID-19 pandemic by guaranteeing transactions insured by trade credit insurers. The Trade Credit Reinsurance scheme is designed to...
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2020/06/29
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Corruption, Oil, Gas and Mining
Member: Global Witness
(Global Witness, London, 12 June 2020) UKEF have been in the spotlight more and more over the last year for their disproportionate support for the fossil fuel industry. Last year, UKEF provided nearly £2 billion in taxpayer support for fossil fuel projects all over the world. Despite dozens of...
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2020/06/29
Country: France, United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Oil, Gas and Mining
Member: Friends of the Earth USA
(Reuters, Johannesburg/London, 26 June 2020) Britain’s export credit agency UK Export Finance (UKEF) is set to back around $800 million of a $20 billion (£16 billion) liquefied natural gas (LNG) project in Mozambique led by French energy major Total. Campaigners say such projects lock in...
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2020/06/29
Country: China, France, Germany, Italy, United Kingdom, USA
Issue: Aircraft
(Reuters, Paris, 9 June 2020) France launched what it billed a 15-billion-euro ($17 billion) support plan for its aerospace industry on Tuesday, accelerating research on a green jetliner and warning 100,000 French jobs could be lost due to the coronavirus crisis. The plans - which include 7...
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