(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
2020/11/30
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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2020/09/29
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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2020/07/30
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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2020/07/29
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: 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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2020/04/30
Country: Finland, France, Germany, Italy, Norway, USA
ECAs: Euler Hermes Deutschland AG, Export-Import Bank of the United States
Issue: Debt
(Bloomberg, Miami, 24 April 2020) After missing out on U.S. emergency aid, Norwegian Cruise Line Holdings Ltd. and Royal Caribbean Cruises Ltd. are benefiting from a debt-holiday initiative by Germany’s export credit agency, Euler Hermes Aktiengesellschaft. The coronavirus pandemic has hammered...
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2020/04/30
Country: France, USA
ECAs: Export-Import Bank of the United States
Issue: Human Rights, Oil, Gas and Mining
Member: Friends of the Earth USA
(FOE USA, Washington, 20 April 2020) The COVID-19 pandemic has forced large portions of the population to stay home and left millions out of work. Farmworkers, grocery workers, medical professionals, and other frontline workers are forced to put themselves at risk in order to provide everyone...
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2020/03/30
Country: France, Spain, USA
Issue: Aircraft
(Aviation Today, Rockville MD, 24 March 2020) Airbus partially resumed assembly and production work in France and Spain on March 23, while Boeing will temporarily suspend the majority of its U.S.-based airplane production activity beginning March 25 as the two commercial aerospace giants...
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2020/02/29
Country: Canada, United Kingdom
ECAs: Export Development Canada
Issue: Corruption
(Compliance Week, Boston, 18 February 2020) Export Development Canada (EDC) announced it has completed its independent review of Bombardier’s compliance policies and procedures, concluding there is progress in its ethics and compliance program. EDC initiated the review of Bombardier in 2019...
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2020/02/29
Country: Canada, China, Japan, Korea, United Kingdom
ECAs: Export Development Canada, Export Import Bank of Korea, Japan Bank for International Cooperation, Sinosure
Issue: Oil, Gas and Mining
Member: Friends of the Earth USA
(Space Daily / AFP, Paris, 30 January 2020) Rich nations are funnelling cash through government-backed financial institutions to provide $30 billion to fossil fuel projects each year that "run counter to the Paris Agreement", a new analysis showed Thursday. The export credit agencies (ECAs) of...
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2020/01/29
Country: France, Germany, United Kingdom, USA
ECAs: UK Export Finance (UKEF)
Issue: Aircraft, Corruption
(Reuters, London, 28 January 2020) Airbus faces a record $4 billion fine and lower 2019 profits after unveiling a preliminary deal with French, British and U.S. authorities following a crippling three-year probe into allegations of bribery and corruption over jetliner sales. The European...
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2019/12/31
Country: China, Finland, Sweden, United Kingdom, USA
Issue: OECD, Transparency, World Trade Organization
(Zdnet, York PA, 26 December 2019) Huawei Technologies has lashed out at a Wall Street Journal report that suggests the tech giant's success is fuelled by billions of dollars in financial support from the Chinese government, arguing that its ties are no different from any other "private company...
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