(G3 Football, Hillside NJ, 14 July 2023) Wolverhampton Wanderers have recently made headlines for securing a £99 million loan from the UK government. While some may view this as a sign of financial trouble, experts argue that it is a shrewd move by the club. In this article, we will explore the...
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2023/07/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Human Rights, Renewables
2023/07/30
Country: China
Issue: End Coal Financing
(Resiliance, US-UK-AU, 11 July 2023) The global energy crisis fueled by Russia’s invasion of Ukraine sparked widespread fears of a “return to coal” – yet, to date, there is scant evidence of this. Indeed, in the world of project financing, any supposed rebound has been illusory. The financing...
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2023/07/30
Country: Canada, Japan, Korea
ECAs: Export Development Canada, Export Import Bank of Korea, Japan Bank for International Cooperation
Issue: Renewables, Transparency
(Pulse News, Soeul, 24 July 2023) The Export-Import Bank of Korea (Korea Eximbank) is gearing up to upgrade its traditional model of financial support for promoting exports of Korean companies to a new level with the introduction of Export Credit Agency (ECA) Version 2.0. The management...
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2023/07/30
Country: China
ECAs: Sinosure
Issue: BRIC countries, Debt, Oil, Gas and Mining, Transparency
(ZAWYA, Dubai, 11 July 2023) Cedar Rose, a Cyprus and Dubai based corporate data, credit, risk and compliance firm, has reaffirmed its longstanding partnership covering over 25 years of relationship with Sinosure, a prominent Chinese state-owned enterprise responsible for export credit...
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2023/07/30
Country: Brazil, China, Germany, Italy, Japan, Korea, United Kingdom, USA
(BN Americas, Santiago, 7 July 2023) Although the energy transition and ESG issues are gaining traction, many banks and credit export entities keep financing oil and gas undertakings, such as floating production storage and offloading units (FPSOs) ordered by Brazil’s federal oil firm Petrobras...
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2023/07/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
(PES Media, Rochester, 5 July 2023) UK Export Finance (UKEF) has published its annual results for 2022-23, which show the government’s export credit agency provided £3.5bn in new, direct support for UK manufacturing exporters in the last 12 months. The financing has directly supported up to 34,...
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2023/07/30
Country: Korea
ECAs: Export Import Bank of Korea
Issue: Arms Trade
(Business Korea, Seoul, 4 July 2023) According to the Export-Import Bank of Korea’s loan and guarantee data by item and country on July 3, the state-run bank provided 488.2 billion won (US$375.7 million) in financial support in the form of loans and guarantees to the defense sector in the first...
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2023/07/30
Country: China, India
Issue: Debt
(MINT, New Delhi, 6 July 2023) India plans to allow Sri Lanka up to 12 years to repay its debt to help ease the financial burden on the island-nation, India’s Export Credit Guarantee Corporation (ECGC) Ltd’s chairman-cum-managing director M.Senthilnathan said. Sri Lanka, facing its worst...
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2023/07/29
Country: Austria, Italy, Switzerland, Turkey, United Kingdom
ECAs: UK Export Finance (UKEF)
(Full Fact, London, 26 July 2023) Earlier this week Greater Manchester mayor Andy Burnham tweeted a screenshot of a UK government press release with the headline “UK announces £680m for new high-speed electric railway in Turkey”. Alongside the screenshot, Mr Burnham tweeted “So we can’t afford...
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2023/07/29
Country: Italy
ECAs: SACE S.p.A.
Issue: Climate Change, European Union, G20, Oil, Gas and Mining
Member: Oil Change International
(Price of Oil, Washington, 11 July 2023) Italy’s export credit agency SACE has approved a $500 million guarantee in loans for the Talara oil refinery in Peru, once again breaking their commitment to end their international public finance for fossil fuels by the end of 2022. SACE is the biggest...
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2023/07/29
Issue: Climate Change, Oil, Gas and Mining
(Environment Governance Institue, Seeta Uganda, 18 June 2023) Thirty four African environmental and human rights civil society organisations and 13 international supporters wrote the African Export-Import Bank (Afreximbank) in anticipation of the 30th Afreximbank Annual General Meeting (AGM)...
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2023/07/29
Country: United Kingdom
Issue: European Union, OECD
(Institue of Export & Int'l Trade, london, 20 July 2023) The Organisation for Economic Co-operation and Development (OECD) has modernised the terms of its Arrangement on Officially Supported Export Credits to allow export credit agencies (ECAs) covered by the arrangement, which includes...
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2023/07/29
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Oil, Gas and Mining, Transparency
Member: Oil Change International
(Price of Oil, Washington, 18 July 2023) Last Friday, the Export-Import Bank of the United States (EXIM) — the official export credit agency of the U.S.— insured USD 400 million in revolving credit facilities for global commodities trader Trafigura. The newly approved transaction will allow...
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2023/07/29
Country: Germany
ECAs: Euler Hermes Deutschland AG
Issue: Climate Change, Transparency
Member: Oil Change International
(Reuters, Berlin, 25 July 2023) Environmental groups on Tuesday criticized Germany's draft policy on export credit guarantees as too vague and soft on financing for natural gas projects, as Berlin attempts a balancing act between climate protection and energy security. Germany supports exports...
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2023/07/29
Country: India
(India Times, New Delhi, 30 June 2023) Minister of Commerce and Industry Piyush Goyal on Wednesday urged Indian banks to provide MSMEs with improved and inexpensive loans in order to meet the aim of 1 trillion dollars in product exports. According to the official statement, the meeting was...
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