(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: United Kingdom, USA
ECAs: Export-Import Bank of the United States
Issue: Aircraft
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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2020/05/31
Country: France
Issue: End Coal Financing
Member: Bank Track
(Bank Track, Paris, 6 May 2020) Reclaim Finance has published the most accurate analysis tool ever released regarding policies adopted by French financial players in the coal sector. The aim is twofold: to facilitate the comparison between policies on the same public criteria and to allow...
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2020/05/30
Country: Belgium
Issue: European Union
(Europa, Brussels, 18 May 2020) The European Commission has approved, under EU State aid rules, a €903 million Belgian reinsurance scheme to support the trade credit insurance market in the context of the coronavirus outbreak. Trade credit insurance protects companies supplying goods and...
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2020/05/30
Country: United Kingdom
ECAs: Export-Import Bank of the United States, UK Export Finance (UKEF)
Issue: Aircraft, Common Approaches, European Union, OECD
Member: Global Witness
(Lexology, London, 30 April 2020) While businesses lobby governments for support, there have been suggestions that ECAs may need to step up to fill a reduced commercial debt capacity for aircraft. During the 2008-2009 global financial crisis, European ECAs financed up to a third of annual...
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2020/05/30
Country: France, Italy
ECAs: SACE S.p.A.
(Reuters, Milan, 15 May 2020)) Fiat Chrysler is in talks with Intesa Sanpaolo (ISP.MI) over a 6.3 billion euro ($6.8 billion) loan backed by Italian ECA SACE to help the automaker weather the coronavirus crisis. Fiat Chrysler (FCA) has gradually restarted its operations in Italy since the end...
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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: China, Germany, Turkey, United Kingdom
Issue: Debt, European Union
(The Asset, 22 April 2020) European Union rules on state aid to private sector companies, including short term export credits, have been suspended until December as national governments step up financial packages to rescue their corporations. A recent report notes that the Covid-19 crisis has...
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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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