(Bloomberg, Suai, 28 August 2019) Colonized by Portugal, invaded by Indonesia, suckered by Australia, Timor-Leste doesn’t need another abusive relationship. But the clock is now ticking for Timor-Leste to find international funding for a $12 billion energy project so work can start before its...
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2019/08/30
Country: Australia, China, Indonesia
ECAs: EXIM Bank China
Issue: Debt, Oil, Gas and Mining
2019/08/30
Country: China
(The Mast, Livingstone, 28 August 2019) Zambia's Trade Development Bank has been invited by a Chinese investment group, China Everbright, as co-managers of a US$1 billion Green Fund which will...
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2019/08/30
Country: Iran
(Financial Tribune, Tehran, 17 August 2019) In a letter to President Hassan Rouhani, private sector representatives have called on government to give more authority to the Export Guarantee Fund of Iran with regard to issuing export guarantees, according to the EGFI chief. The export credit...
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2019/08/30
Country: Russia
(Belarus News, Minsk, 21 August 2019) The Russian Export Center intends to support Belarus-Russia integration projects on advancing to the markets of third countries. Plans are in place to sign a cooperation agreement with Eximgarant of Belarus, which will help lower costs of financing thanks...
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2019/08/30
Country: South Africa, United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Arms Trade, Corruption
(The Citizen, Johannesburg, 22 August 2019) The North Gauteng High Court in Pretoria has set aside the findings of the Seriti commission on Wednesday, delivering a scathing judgment that it had failed in fulfilling its mandate. The High Court judgment on the findings of the commission lamented...
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2019/08/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Aircraft
(Global Trade Review, London, 16 August 2019) Two US senators have proposed a bill to reauthorise the US Export-Import Bank (US Exim) for 10 years over the traditional four, as the bank’s expiry date of September 30 inches closer. The plan, which is gaining widespread support and attention...
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2019/08/30
Country: Finland, Germany
ECAs: Euler Hermes Deutschland AG, Finnvera
Issue: OECD
(Seatrade Cruise News, Colchester, 16 August 2019) KfW IPEX-Bank is leading a consortium to structure the financing for Genting Hong Kong’s two newbuilds for Dream Cruises at the MV Werften shipyard. The multi-ECA financing package comprises around €2.6bn toward the total cost of €3.1bn for the...
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2019/08/30
Country: South Africa
(Thomson Reuters Middle East, Dubai, 28 June 2019) UAE – Etihad Credit Insurance (ECI) has signed a memorandum of understanding with South Africa’s Export Credit Insurance Corporation (ECIC) to explore, strengthen, and enhance the bilateral trade and economic relations between the UAE and South...
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2019/08/30
Issue: Oil, Gas and Mining
(Emirates News Agency, Abu Dhabi, 5 August 2019) The UAE's Emirates Global Aluminium (EGA) today announced the first exports of bauxite ore from Guinea Alumina Corporation (GAC), its mining project in Guinea in West Africa, marking the completion of EGA’s strategic expansion upstream in the...
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2019/08/30
Country: Canada
ECAs: Export Development Canada
Issue: Climate Change, Corruption, Human Rights, Transparency
Member: Above Ground
(Above Ground, Ottawa 29 August 2019) For decades, Export Development Canada (EDC) has been subject to minimal public scrutiny, with media and Parliament rarely asking questions about the social and environmental costs of the business it supports. But recently, with some of the agency’s highest...
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2019/08/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Corruption, Oil, Gas and Mining
Member: Friends of the Earth USA
(AllAfrica, Maputo, 25 August 2019) The Board of Directors of the Export-Import Bank of the United States (EXIM US) has voted to notify the US Congress of its consideration of a five billion dollar loan to support the export of US goods and services for the development of the liquefied natural...
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2019/08/30
Issue: Common Approaches, OECD, Transparency
Member: Bank Track
(Bank Track, Nijmegen, 27 August 2019) 79 civil society organisations and partners have submitted a ...
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2019/07/30
Issue: Climate Change
(Hellenic Shipping News, Cyprus, 2 July 2019) The Poseidon Principles launched on the 18 June 2019, with founding signatories including Citi, DNB, Societe Generale, ABN Amro, Amsterdam Trade Bank, Credit Agricole CIB, Danish Ship Finance, Danske Bank, DVB, ING and Nordea. Together they have a...
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2019/07/30
Country: China
ECAs: EXIM Bank China, Sinosure
Issue: Corruption, Debt
(Asia Times, Hong Kong, 23 July 2019) China's US$1 trillion Belt and Road Initiative, along with other foreign funding, has become a magical mystery tour, baffling the World Bank and the International Monetary Fund. Or, according to critics, a diplomatic car crash waiting to happen. “Compared...
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2019/07/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: BRIC countries
(Sahara Reporters, New York, 24 July 2019) With Boris Johnson, who promised to take the United Kingdom out of the European Union without a deal if necessary now the country's prime minister, the United Kingdom Export Finance (UKEF), has increased the export credit finance agreement it signed...
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