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2008/05/10
(OECD, Paris, 13 May 2008) The OECD's Export Credit Division has released a 16 page outline of the milestones of the Arrangement on Officially Supported Export Credits and challenges to the ECG to widen participation in their export credit rules to new players through the OECD strategy of accession... more
2008/05/09
(Tradingmarkets.com, New Delhi, 1 May 2008) The Indian Government has approved waiving of Rs 347 crore (US$81.4 million) payable by Cuban companies to firms in India for imported goods. The move will facilitate resumption of credit facilities, insurance cover by EXIM Bank and Export Credit... more
2008/05/08
(Domain-B.com, Mumbai, 15 May 2008) Power Finance Corporation Limited (PFC) will get an $800 million credit facility from the Export Import Bank of the US (US Exim) for financing projects for integrated development of Indian power and associated sectors. The use of special delegated line of credit... more
2008/05/07
(WOAI.COM, San Antonio Texas, 5 May 2008) San Antonio businessman Andrew Parker, owner of an export company San Antonio Trade Group, Inc. has been indicted on fraud charges. Court documents claim he was a major player in a scheme to defraud the US Export Import Bank of US$163 million. The F.B.I.... more
2008/05/06
(Wall Street Journal, 19 May 2008) XOJet Inc., a private-aviation company backed by buyout firm TPG, has secured $2.5 billion in new financing, including $400 million from Canada's export credit agency, Export Development Canada, to fund the purchase of Bombardier's Challenger jets. It also plans... more
2008/05/05
(EDC, Ottawa, 30 April 2008) EDC has issued a Statement on Human Rights, setting principles that guide its consideration of potential impacts on the human rights of individuals affected by transactions EDC has been asked to support. EDC... more
2008/05/04
(Engineering News, Johannesburg, 16 May 2008) South Africa's power utility Eskom is reviewing plans for nuclear power development to meet electricity needs after bids well above estimates came in from Areva of France and Toshiba's Westinghouse, supported by a combination of income ranging from... more
2008/05/02
(ECA Watch, Ottawa, 29 May 2008) The export credit agencies (ECAs) of Germany, Austria and Switzerland held meetings in Vienna on May 13-14, 2008 to try to overcome Turkey's failure to meet some 150 conditions imposed by the 3 OECD ECAs prior to approval of funding for the controversial project,... more
2008/05/01
(Het Financieele Dagblad, Amsterdam, 13 May 2008) Dutch NGO Both Ends notes that recently proposed legislation could increase developing nation debt and that vulnerable groups and the environment are threatened by this new... more
2008/04/10
(Kazinform, 16 April 2008, Astana) During 9-12 April meetings of senior officials, the Kazakhstan Development Bank and Chinese Export-Import Bank concluded an Agreement on soft credit. Kazakh-Chinese relations rely mainly on trade-and-economic cooperation. Bilateral trade turnover grew to USD 13.8... more
2008/04/09
(Reuters, 16 April 2008, Washington) - The U.S. Export-Import Bank has approved a $2.2 billion loan guarantee program to support U.S. exports to help build energy and other infrastructure projects in India.
2008/04/08
(BBJ.hu, 17 April 2008, Budapest) The European Commission said Thursday that a planned scheme for providing short-term export credit guarantees to Hungarian SME exporters and their foreign clients is incompatible with EU rules as risks covered by the guarantees are too wide and give Hungarian... more
2008/04/07
(AFP, 17 April 2008, Johannesburg) South Africa has waived Cuban debt totalling more than 100 million dollars. The 926.8-million-rand (117-million-dollar/ 73-million-euro) debt was owed for insurance cover provided by the Export Credit Insurance Corporation of SA for the export of diesel engines... more
2008/04/06
(Business Wire, 17 April 2008, Moscow) The State Corporation “Bank for Development and Foreign Economic Affairs” (Vnesheconombank, Russia), COFACE, a French export credit agency, and SACE, an Italian export credit agency signed a Joint statement on the establishment of an export credit financing... more
2008/04/05
(Air Finance Journal, April 2008, London) Export credit loans cover 85% of the aircraft’s value. This type of finance is extremely important during a downturn when many banks stop lending.
Issue: Aircraft