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2007/09/07
(US Ex-Im Bank, Washington, 27 September 2007). As required by the Export-Import Bank Reauthorization Act of 2006, Ex-Im has written Congressional committees to note that "In fiscal year 2005, Ex-Im did not finance any dual-use export projects". "According to Ex-Im officials, dual-use items were... more
2007/09/06
The husband of the Philippine president and others have been named in a Senate inquiry into alleged kickbacks tied to a ZTE contract with the Manila government. ZTE's project would be financed at favorable interest rates by The Export-Import Bank of China, although a final contract has yet to be... more
2007/09/05
(IHT, Darmstadt, 20 September 2007) Germany's Economics Ministry has scaled back the export credit guarantees it issues for trade with Iran from $3.3 billion in 2004 to $1.2 billion last year. But German companies still exported $5.7 billion worth of goods to Iran in 2006, up from $5 billion in... more
2007/09/04
(IRN, Berkeley, 19 September 2007) China Exim Bank adopted an environmental policy in November 2004, and released it to the public in April 2007. Environmental Defense and International Rivers Network, in cooperation with The Corner House (UK), the international ECA Watch network, Friends of the... more
2007/09/03
(Halifax Initiative, Ottawa, 10 September 2007) Export Development Canada (EDC), along with public lenders in the US and Europe, has signaled its interest in supporting the Tenke Fungurume copper mine in the Democratic Republic of Congo, despite the fact that the contract for the project is... more
2007/09/02
(Both ENDS, Amsterdam, 28 August 2007) The Dutch government is facing sustained problems in managing its export credit risk exposure on Indonesia. The main reason is that in recent years cover has been provided for the export of military navy vessels to Indonesia for a value of more than €1 billion... more
2007/09/01
(ECA Watch, Paris, 27 September 2007) NGOs have released their analysis of the 150 conditions attached to the export credit guarantees granted by EulerHermes, SERV and OeKB for the Ilisu project. The report finds that: -... more
Country: Turkey
Dodgy Deal: Ilisu Dam
ECAs: Euler Hermes Deutschland AG, Oesterreichische Kontrollbank AG, Swiss Export Risk Insurance
Issue: Large Dams
2007/08/09
(Globes [online], Rishon Le-Zion, 22 August 2007) Bank Hapoalim has signed an agreement with Kazakhstan’s Bank TuranAlem to provide a credit line, backed by Ashra Israel Export Insurance Corp. Ltd., to finance Israeli exports to that country. The credit line will finance 85% of medium and long-term... more
2007/08/08
(Canadian Press, Toronto, 30 July 2007) The Canadian aerospace industry is hopeful it will get a lift from an international agreement establishing enforceable rules on government export credit subsidies for aircraft... more
2007/08/07
(Pulp Mill Watch, Berlin, 6 August 2007). Over the next five years, the global pulp industry is planning a massive increase in worldwide production capacity by more than 25 million tonnes. A new report Banks, Pulp and People: A Primer on Upcoming International Pulp Projects notes: "Export Credit... more
Country: Australia, China
Issue: Pulp and Paper
2007/08/06
(ECA Watch, Paris, 22 August 2007) At the April 23-24 2007 meeting of the ECG a 2 year extension to the application of the renewables (and... more
2007/08/05
(OECD, Paris, 19 July 2007) The OECD Export Credit Group has quietly published detailed data tables on official export credit commitments issued to IDA-only and... more
2007/08/04
(EFIC, Sydney, 10 August 2007) EFIC , the Australian Government’s export credit agency, reports that emerging markets have been affected by the US sub-prime mortgage crisis. EFIC chief economist, Roger Donnelly, reports in the agency’s latest World Risk Developments (formerly Market Watch)... more
2007/08/03
(CNN, Mumbai, 10 August 2007) On August 10, 2007, Standard and Poor's gave Sinosure, the China Export & Credit Insurance Corporation, an "A/A-1" rating. This is the same rating S&P had given... more
2007/08/02
(WEED, Berlin, 15 August 2007) “By supporting the Ilisu project, Société Générale, Bank Austria and DekaBank demonstrate a deep disregard of environmental criteria and extreme disrespect for the affected population”, stated Heike Drillisch of the environmental and development organisation WEED.... more