(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...
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2020/12/30
Country: Italy, Japan, Korea, USA
ECAs: Export Import Bank of Korea, Export-Import Bank of the United States, Japan Bank for International Cooperation, SACE S.p.A.
Issue: Climate Change, Corruption, Debt, Human Rights, Oil, Gas and Mining
2020/12/30
Country: Russia
(TXF News, New York, 9 December 2020) Egyptian National Railways (ENR) raised the benchmark for big-ticket export finance collaboration at the end of 2019, after the state-owned company signed a €1 billion ($1.17 billion) dual ECA-backed buyer’s credit facility to back the procurement of 1,300...
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2020/12/30
Country: Italy
ECAs: SACE S.p.A.
Issue: Arms Trade
(Middle East Eye, London, 11 December 2020) Government sources in Egypt familiar with economic and military cooperation with Italy have revealed that an agreement is imminent between the Egyptian government and the Italian Export Credit Agency (Sace),...
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2020/12/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Debt
(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....
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2020/12/29
Country: Russia, United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Arms Trade
(Eurasia Daily Monitor, Washington, 15 December 2020) In October 2020 a funding pledge was made by the UK’s export credit agency in the amount of 1.25 billion pounds ($1.68 billion) for the construction of missile boats and new naval infrastructure in Ukraine. Missile boats and naval bases are...
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2020/12/29
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: European Union, OECD, Transparency
(Reuters, London, 7 December 2020) Britain’s government said on Monday it would offer a wider range of loan guarantees to promote exports as part of a drive to boost overseas sales following the country’s departure from the European Union, its biggest foreign market. Lenders will receive a...
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2020/12/29
Country: Italy
Issue: European Union
(Schengenvisainfonews, Prishtina, 7 December 2020) Operators together and travel agencies in Italy affected by the Coronavirus outbreak will receive financial support to get out of the current economic crisis, as the European Union Commission has approved €625 million Italian scheme, under the...
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2020/12/29
Country: Russia
(RT News, Moscow, 7 December 2020) On December 9, the 'Made in Russia’ International Export Forum will hold a roundtable on “Fine-tuning the export support framework: countering the downturn in global trade.” Russian and foreign experts are expected to focus on the current state of global trade...
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2020/12/29
Country: United Kingdom
ECAs: COFACE, Euler Hermes Deutschland AG, SACE S.p.A., UK Export Finance (UKEF)
Issue: Climate Change, Oil, Gas and Mining
(Sydney Morning Herald, London, 12 December 2020) British taxpayers will stop subsidising overseas fossil fuel projects under a pledge by Prime Minister Boris Johnson which opens a new front in the push for more urgent international action on climate change. Johnson will announce the "world-...
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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: Spain, United Kingdom
ECAs: Compañía Española de Seguros de Crédito a la Exportación, UK Export Finance (UKEF)
(Zawya, Dubai, 4 October 2020) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) signed a Memorandum of Understanding (MoU) for cooperation with the United Kingdom’s Export Credit Agency (UKEF). The MoU allows for both entities to enter into co-insurance,...
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2020/10/28
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Renewables
(Energy Voice, London, 15 October 2020) The credit export wing of the UK Government could support tens of thousands of jobs in the coming years if it switched its focus from oil and gas to renewables, according to a new study....
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2020/10/28
Country: France, Italy, Korea
ECAs: Export Import Bank of Korea, Export-Import Bank of the United States, SACE S.p.A.
Issue: Climate Change, Oil, Gas and Mining
(Energy Intelligence Finance, New York, 30 September 2020) French TNC Total's CEO Patrick Pouyanne has emphasized that Africa will be at the "heart" of the company's long-term energy transition plans. Africa has long been a rich source of cash flow for Total (...
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2020/09/30
Country: France, Germany, South Africa, Sweden
ECAs: COFACE, Euler Hermes Deutschland AG
Issue: Climate Change, End Coal Financing
(Swedwatch, Stockholm, 25 September 2020) The coal industry is well-known for its serious climate implications and effects on local communities. Still, European export credits have contributed to expand the coal industry in countries already dependent on coal, including South Africa, a new...
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2020/09/29
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Oil, Gas and Mining, Transparency
(Prospect, London, 10 September 2020) Boris Johnson has pledged to end Britain's support for global gas and oil projects. But will the government really make good on its promise? Investors across the world are growing increasingly wary of financing fossil fuels—and for good reason. In an era of...
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