(Global Trade Review, London, 7 September 2023) The export credit insurance market saw claims jump by more than 700% in Russia last year, as the industry grappled with the fallout of the Ukraine crisis and western sanctions, Berne Union research shows. Short-term export credit claims involving...
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(Berne Union, London, 7 September 2023) A Berne Union report investigates how political risk insurance can be approached amid the ongoing effects of the pandemic, geopolitics and the evolving Russia/Ukraine crisis. The search for new, diversified suppliers of strategic materials to support the...
more(European Commisson, Brussels, 6 March 2023) The European Commission has approved, under EU State aid rules, an amendment to an existing Italian guarantee scheme, including an up to €3 billion budget increase, for the reinsurance of natural gas and electricity trade credit risk in the context...
more(Reuters, London, 8 November 2022) Britain plans to offer new loans to support countries most vulnerable to the effects of climate change, including the option to defer debt repayments in the event of catastrophes, the finance ministry said on Tuesday. The country's export credit agency, UK...
more(Tehran Times, Tehran, 10 September 2022) The Export Guarantee Fund of Iran (EGFI) has signed an agreement with the Russian Agency for Export Credit and Investment Insurance (EXIAR) with the aim of facilitating exports and providing the necessary guarantees for the development of trade between...
moreOn 3 June 2022 the EU adopted its sixth package of sanctions against Russia and Belarus. These prohibit the purchase, import or transfer of crude oil and certain petroleum products from Russia into the EU, as well as insuring and financing the transport, in particular through maritime routes,...
more(Live Mint, India, 5 May 2022) As much as 70–80% of the payments for goods that were shipped to Russia before the Ukraine war have been coming in, a government official privy to the matter told Mint, comforting exporters. Exporters had claimed that about $500 million in payments were stuck...
more(Reuters, Rome, 25 January 2022) Italy approved a long-awaited decree needed for the Treasury to buy credit insurance agency SACE from state lender Cassa Depositi e Prestiti (CDP) in a deal expected to be worth around 4.25 billion euros ($4.81 billion). The Treasury wants to directly control...
more(Bharat Express News, Punjab, 11 January 2022) MV Werften, the German cruise ship builder controlled by Malaysian billionaire Lim Kok Thay’s Genting Hong Kong, has filed for bankruptcy after failing to strike a deal with the German government to support additional funding for a mega cruise ship...
more(SteelOrbis, Brescia, 1 July 2021) Invitalia, the public shareholder, by entering the board, is expected to implement contractual commitments, in all a little over €2 billion - €400 million of capital increase - have already been paid, while about €700 million are missing in guarantees for a...
more(City AM, London, 23 June 2021) In its annual results published today UK Export Finance (UKEF) announced that it provided £12.3bn (US$17bn) of support to UK exporters in the last financial year, amid coronavirus disruption and ongoing Brexit trade negotiations, almost 3X the amount given in...
more(Bloomberg, London, 26 February 2021) U.K. companies pummeled for nearly a year by pandemic shutdowns are turning to a century-old government agency with roots in the country’s drive to rebuild trade after the Great War to help them raise funds. Subsea 7 Ltd. on Thursday sealed a $500 million...
more(Korea Times, Seoul, 14 December 2020) The Export-Import Bank of Korea (Eximbank) said Monday it will provide $500 million (545 billion won) in financial support for a major integrated liquefied natural gas (LNG) project in Mozambique. The project financing by the state-run lender is aimed at...
more(The NEWS, Islamabad, 11 December 2020) The UK on Thursday asked Pakistan to expedite utilisation of 1.5 billion pounds of annual UKEF credit line by facilitating UK businesses investing in and exporting to the South Asian economy. British High Commissioner to Pakistan Christian Turner said £1....
more(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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