(Reuters, Paris, 27 April 2018) Airbus has received European export credits for the first time since public funding was suspended in 2016 at the outset of a corruption investigation, the company said on Friday. The credit was granted under enhanced compliance procedures agreed between Airbus...
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2018/04/30
Country: Russia
Issue: Nuclear
(UzDaily, Tashkent, 20 April 201) Uzbekistan plans to sign an agreement with Russia on construction of a nuclear power plant in 2018. Currently, Rosatom is building a similar station in Bangladesh at a cost estimated at about US$13 billion, of which US$11.3 billion is provided by Russia as a...
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2018/03/31
Country: Germany, Turkey
ECAs: Euler Hermes Deutschland AG
Issue: Arms Trade, Human Rights
(Handelsblatt, Berlin, 7 March 201) Turkey and Germany recently agreed to try to “normalize” their fraught relationship. Turkey had adopted hostage-taking as an instrument of foreign policy, with Germany being a target. Germany’s response was to reconsider economic aid and export credit...
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2018/03/31
Country: Italy
ECAs: SACE S.p.A.
(Arabian Business, Dubai, 3 March 2018) Italy's SACE says evaluating nearly $5bn of UAE projects Export credit agency sees its exposure in the Middle East almost triple to $14.7bn since opening offices in Dubai. It said growth is expected to continue in the region as it is currently evaluating...
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2018/03/31
Country: Russia
Issue: End Coal Financing
(Vietnam Investment Review, Hanoi, 17 June 2018) On January 26, Power Machines, the EPC contractor of Long Phu 1 thermal power plant, was put on the US Department of Treasury’s extended list of Russian individuals and companies subject to sanctions imposed on Moscow over the Ukraine crisis. The...
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2018/02/28
Country: Japan, Korea, United Kingdom
ECAs: Japan Bank for International Cooperation
Issue: Climate Change, End Coal Financing
(Climate Home News, London, 14 February 2018) The London-based bank plans to co-finance Nghi Son 2 power plant, which NGOs say uses dirty old technology, against company and OECD guidelines. The proposed financing arrangements also appear to breach the Organisation for Economic Cooperation and...
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2018/02/28
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Aircraft, Arms Trade
(Reuters, London, 12 February 2018) BAE Systems will provide Malaysia a UK government-backed financing deal if it decides to replace its fleet of combat jets with the Eurofighter Typhoon, senior company officials said. Malaysia has for several years been weighing France’s Rafale jet and the...
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2018/02/28
Country: France
Issue: Climate Change, Oil, Gas and Mining
(Reuters, London, 20 February 2018) Anadarko Petroleum’s plan to export liquefied natural gas (LNG) from Mozambique moved a step closer to completion on Tuesday after it agreed a 15-year LNG sales and purchase agreement (SPA) with Electricite de France. France’s state-controlled utility will...
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2018/02/28
Country: France, Germany, United Kingdom, USA
ECAs: COFACE, Euler Hermes Deutschland AG, Export-Import Bank of the United States, UK Export Finance (UKEF)
Issue: Aircraft
(The Economist, Singapore, 8 February 2018) A management shake-out may reawaken national rivalries at the European aerospace giant. “The success of Airbus is intimately linked to the success of John [Leahy],” says Eric Schulz, successor to John Leahy, who has been chief salesman for the...
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2018/01/31
Country: France, Germany, United Kingdom, USA
ECAs: COFACE, Euler Hermes Deutschland AG, Export-Import Bank of the United States, UK Export Finance (UKEF)
Issue: Aircraft
(Fox Business, Dublin, 22 January 2018) Boeing and Airbus officials have signaled optimism that problems denting their access to government-backed plane financing are nearing resolution. Boeing and Airbus last year both delivered a record number of planes. Though commercial financing for the...
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2018/01/31
Country: Australia, France, Indonesia, Mexico, Russia, United Kingdom, USA
ECAs: COFACE, Export Finance & Insurance Corporation Australia, Export-Import Bank of the United States, UK Export Finance (UKEF)
Issue: Arms Trade
(Global Trade Review, London, 31 January 2018) The Australian export credit agency (ECA), Efic, has been armed with A$3.8bn to help companies sell military equipment overseas. Over the years, ECAs have been heavily criticised for selling arms which often help prop up tyrannical regimes and...
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2018/01/31
Country: Canada, Russia
ECAs: Export Development Canada
Issue: Human Rights
(Financial Post, Toronto, 11 January 2018) Canadian exporters with long histories of doing business in Russia are urging the federal government to help them compete with foreign rivals that they insist are profiting from Ottawa’s particularly rigid approach to international sanctions. Companies...
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2018/01/31
Country: India, United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: BRIC countries
(India Times, New Delhi, 11 January 2018) The UK government today announced the doubling of its national credit support for UK businesses exporting to India, during the visit of Commerce and Industry Minister Suresh Prabhu. As part of the deliberations, UK trade minister Liam Fox announced that...
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2018/01/31
Country: Korea, United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Debt
(Yonhap, Seoul, 9 January 22018) The British government has withdrawn its plan to cancel a North Korean debt that has been unpaid for more than four decades, in consideration of the possibility that North Korea could pay it back after the two Koreas are unified, U.S. broadcaster Voice of...
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2018/01/31
Country: Japan, United Kingdom, USA
ECAs: Japan Bank for International Cooperation, UK Export Finance (UKEF)
Issue: Climate Change, Oil, Gas and Mining
(Bloomberg, London, 9 January 2018) Saudi Arabian Oil Co. is seeking a $2 billion loan from Japan’s export-credit agency, three people with knowledge of the matter said, as competition for a role in potentially the world’s largest initial share offering heats up. A deal would make the Japanese...
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