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September
China’s CITIC Group and China Development Bank have signed a loan to the Ministry of Economy and Public finance of Argentina for subway vehicles and equipment.
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GIEK has issued a guarantee for a loan to Polarcus Asima in connection with the delivery of the seismic research vessel Polarcus Asim from Dubai Drydocks.
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Sberbank and German export credit consortium AKA Bank have signed a revised version of an agreement to finance exports into Russia.
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Swiss export credit agency Serv is to expand its support to exporters in French speaking Switzerland by opening a branch office in Lausanne, Switzerland.
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IFC has signed a loan to Turkey’s Sisecam Group’s subsidiary in Bosnia and Herzegovina, Sisecam Soda Lukavac.
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The European Bank for Reconstruction and Development has signed a loan to KCM, the largest lead and zinc smelter in Bulgaria, to co-finance its modernisation programme.
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August
BNP Paribas has signed two loans with smelter company Aluminium Bahrain to replace electronic equipment at its smelting complexes.
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EFIC is supporting the involvement of Australian companies in West African gold mining projects.
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MIGA has launched its Asia hub to expand its reach beyond the Washington DC headquarters, naming its CFO as regional director.
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The African Development Bank is considering its first co-financing with international lenders in an A/B structured loan for South Africa’s state-owned transport infrastructure firm Transnet.
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Credit Agricole Corporate Investment Bank has signed a bilateral buyer credit for South African power giant Eskom’s Medupi power plant.
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A Texas business owner and a Mexican citizen have both been charged with money laundering and conspiring to defraud the Export-Import Bank of the United States.
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IFC and Inecobank have teamed up to expand access to trade finance in Armenia.
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Indonesia’s state-owned steel manufacturer PT Krakatau Steel needs approximately $570 million to support the revitalisation and modernisation programmes of its steel plant.
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Islamic Development Bank subsidiary Trust Service Limited's Trust Certificate Issuance Programme has been increased to finance growth in IsDB's operations.
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LBB has structured the biggest cross-border financing for a group of Russian companies under US Ex-Im cover for the last 10 years.
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Romanian aluminium producer Alro has signed a refinancing package under an EBRD A/B loan structure.
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Deutsche Bank has signed an ECA-backed deal for UAE-based trading company Al Futtaim Group’s Cairo Festival City project in Egypt.
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Israeli export credit agency Ashr’a’s largest ever deal coverage, a trade finance loan to the Republic of Azerbaijan, is set to drawdown imminently.
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German export credit agency Euler Hermes is covering a Deutsche Bank- arranged deal for South African electricity giant Eskom for the Ingula pumped storage power project, South Africa.
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The European Bank for Reconstruction and Development is financing two Kyrgyz microfinance institutions for on-lending to smaller institutions and entrepreneurs in the Kyrgyz Republic.
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The Export Import Bank of the Unites States has signed a direct loan to Energía Eólica de Honduras to finance the Cerro de Hula wind farm, Honduras.
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French export credit agency Coface is backing two deals for BNP Paribas with French aerial work platform manufacturer Haulotte Group for two companies in Brazil.
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Lloyds Banking Group has signed a trade finance facility for Spooner Industries to deliver their export order for the supply of drying equipment for the paper industry to the Philippines.
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The Asian Development Bank has signed a grant to expand and modernise Tajikistan’s electricity transmission system.
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The Inter-American Development Bank has signed a syndicated loan to Mibanco – Banco de la Microempresa for on-lending to female micro-entrepreneurs in Peru.
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The Korea Development Bank and the Export-Import Bank of the United States have approved a project financing for the Boleo Project in Mexico.
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HSBC has been mandated by Air China to arrange the first Chinese ECA-backed aircraft purchase transaction without guarantees from either Chinese state banks or the government.
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The Export-Import Bank of India has signed a line of credit to the Government of the Democratic Republic of Congo to finance the Kakobola Hydroelectric Power Project.
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Australia’s export credit agency EFIC has signed a direct loan to Orica Limited to assist with Orica’s investment in the construction of an ammonium nitrate plant in Indonesia.
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The Brazilian Development Bank has announced its profit in the first semester of 2010, an increase of 408.6% compared to the same period last year.
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Italy’s export credit agency Sace has announced it has a $1 billion pipeline of new transactions in Brazil.
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The Dubai Export Development Corporation has launched its new export assistance programme to provide financial assistance to UAE small and medium enterprise exporters.
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US Ex-Im is backing a loan by Banco Santander to Peruvian meat and poultry producer San Fernando for feed stock for poultry production.
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Canadian export credit agency Export Development Canada will invest in the Africa Telecommunications, Media and Technology Fund I to encourage Canadian supply.
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The International Islamic Trade Finance Corporation has announced its trade finance operations during the first half of 2010.
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The Japan Bank for International Cooperation has signed a buyer credit for Egyptian Refining Company to construct processing units to refine atmospheric residue from a Cairo refinery.
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The Export-Import Bank of the United States has signed an agreement with Ethiopian Airlines to purchase aircraft from Boeing.
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BBVA and Banco Santander have signed a deal for Volkswagen de Mexico to purchase automobile products from a pool of German exporters.
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TEPCO, Toshiba and JBIC have signed a new agreement with Canadian-listed producer and marketer of uranium, Uranium One, securing long-term uranium purchase rights.
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Private Export Funding Corporation has signed a revolving working capital loan for Ford Motor Company to finance vehicles being sold to buyers in Canada and Mexico.
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Banco Bilbao Vizcaya Argentaria has signed a loan with Mexican forging industry manufacturer Frisa Forjados S.A. de C.V.
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HSH Nordbank makes a new position and appoints head of export and trade finance.
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PetroVietnam Nhon Trach 2 Power Joint-Stock Company has signed a loan with six banks for the construction of its thermal power project in the southern province of Dong Nai, Vietnam.
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Standard Chartered Bank has signed a telecoms deal with Zain communications Ghana Ltd, backed by Sweden’s EKN.
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Botswana Power Corporation has refinanced its bridge facility for the Morupule B coal-fired power and transmission project located in the Palapye Township, Botswana.
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Australia’s export credit agency EFIC is helping to finance Australian disaster film Panic at Rock Island.
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Start-up company Milestone Aviation secures finance for unique leasing business.
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Satellite operating company Iridium reports commitments in excess of $1.8 billion.
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HSBC has made three new senior appointments in its resources and energy group in Asia-Pacific.
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The International Finance Corporation and the government of Colombia have completed the third and final contract for the country’s $2.7 billion Ruta del Sol 1,071 km highway project.
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Satellite communication company Inmarsat is pursuing backing by the Export-Import Bank of the United States to cover its three-satellite contract with Boeing Space and Intelligence Systems.
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Korea Export Insurance Corporation (KEIC) has changed its name to Korea Trade Insurance Corporation( K-sure) and will begin covering commodity imports in addition to exports.
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The EBRD has launched general syndication for an A/B loan to support Romanian aluminium producer Alro.
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The Republic of Cote d'Ivoire has joined the Islamic Corporation for Insurance of Investments and Export Credits (ICIEC).
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The EBRD has signed a credit line with Romania’s Millennium Bank Romania for on-lending to small and medium-sized enterprises (SMEs).
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The Export-Import Bank of the United States has approved a working capital loan guarantee for Ford to finance export sales to Canada and Mexico.
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WestLB has arranged the senior debt financing for a commercial container port in Colombia under the IFC’s A/B loan programme.
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JBIC and Mizuho are cofinancing a loan to support the export of a Japanese-built cargo ship for a Singapore-based joint venture company.
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The Inter-American Development Bank (IADB) is providing Banco de Galicia y Buenos Aires with a loan to support environmentally beneficial projects.
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Daniel Zelikow has been named as the head of a new international public sector group within JP Morgan’s global corporate bank.
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Abu Dhabi's Emirates Steel Industries has secured funding from Sace and a group of banks for long-term debt for the development of its plant at Taweelah.
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Inter-American Development Bank approves second phase expansion loan for Nicaraguan San Jacinto-Tizate geothermal power project.
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Australian export credit agency EFIC is providing an export working capital guarantee to Viocorp, a provider of digital media projects, for a project in Malaysia.
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July
Canadian export credit agency EDC has joined SMBC and BNP Paribas to close a borrowing base facility for Calgary-based oil and gas exploration firm TransGlobe.
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Banks have signed the Sace-backed tranche of a jumbo project financing to build a 500 tonne polypropylene production complex in Russia.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The US government’s development agency, the Overseas Private Investment Corporation (OPIC), has announced its new leadership team.
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Credit Agricole CIB and Sinosure have signed a comprehensive business cooperation agreement to further develop support for their clients.
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Export Development Canada is providing financing for the export of Bombardier aircraft to Deutsche Lufthansa.
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Photos from Trade Finance Magazine’s 5th Annual Asia Awards Dinner held in Hong Kong.
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The Arab Bank for Economic Development in Africa has signed an agreement with the Kenyan government to help build the 146km Nuno-Modogashe Road.
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The launch of IADB’s report “India: Latin America’s Next Big Thing?” saw discussion underline the huge potential for more trade between the two, and how India may be a better match for the region than China.
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IFC has signed an agribusiness loan with Serbia’s Société Générale Banka Srbija.
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The African Development Bank has signed a line of credit to Afreximbank to finance trade and trade-related projects in Africa.
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UK export credit agency ECGD's support for exporters increased this year by 51%, driven mainly by export orders of Airbus aircraft.
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Sole MLA Citi has finalised the export credit agency supported financing of PetroVietnam’s Nhon Trach 2 combined cycle power plant project – the largest ECA facility ever arranged in Vietnam.
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A loan from PEFCO with a US Ex-Im guarantee is maintaining US jobs through the export of Siemens turbines to Korea.
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The Export-Import Bank of the United States has opened in Iraq to help finance short-term and medium-term sales of US exports to Iraqi buyers in both the public and private sectors.
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The European Bank for Reconstruction and Development is launching the first ever facility to improve funding for agribusinesses and the use of warehouse receipts in Serbia.
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Member countries provide strategic vision and accountability framework; bank will expand support to small and vulnerable countries and triple support for trade and integration.
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US Ex-Im and Turkey Ministry of Energy and Natural Resources sign MoU to cooperate in financing US exports to Turkey, creating US jobs.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The European Bank for Reconstruction and Development has signed a loan to the Slovenian state-owned Termoelektrarna Šoštanj thermal power plant to co-finance its modernisation programme.
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Brazil’s development bank BNDES has approved financing for Petrobras Transporte to aquire seven tanker vessels.
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India's Exim Bank is rumoured to be negotiating a line of credit with Dhaka for transport and infrastructure projects in Bangladesh.
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Iridium has entered into two comprehensive long-term agreements with Boeing regarding the maintenance operations and support of Iridium’s satellite network.
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US Ex-Im-backed Northstar financing clinches the sale of US recycling technology to Turkey.
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The EBRD has signed an oversubscribed A/B loan for Russia’s Brunswick Rail Group to purchase 5,000 new railcars.
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The Africa Finance Corporation and Nigeria’s Access Bank have signed a master risk participation agreement for trade transactions.
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The Inter-American Development Bank will invest annually in integration projects for Central America, South America and the Caribbean to extend regional links to the global economy.
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US Ex-Im chairman Fred Hochberg has revealed the nine countries and five key industrial areas where it plans to drive US exports.
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Ivanhoe Mines has appointed a core lender group of five financial institutions that will lead the arrangement of its Oyu Tolgoi copper and gold mining complex debt package in Mongolia.
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Russia’s state owned development bank Vnesheconombank has signed long-term credit agreements with LLC Tobolsk for a new polypropylene complex in Western Siberia.
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Patrick Brockie, one of the most well-known names in the field of export finance banking, is leaving Citi.
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India Exim Bank is collaborating with India’s Export Credit Guarantee Corporation to structure a new credit product where government or multilateral lines of credit are not available.
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The Asian Development Bank has suspended a planned phase-out of exceptional allocation of its Asian Development Fund to Afghanistan in 2011 and 2012.
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International Finance Cooperation has signed a senior loan for Zambia National Commercial Bank to help increase access to finance for smaller entrepreneurs and agribusiness companies in the country.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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DEG is lending $30 million to acquire and build out telecommunications companies in the CIS.
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ANZ has appointed two new executives to strengthen its global structured asset and export finance team.
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China is to invest $10 billion in Argentina’s railways in a major win for Chinese exporters, as part of a spate of agreements signed between the two nations.
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Citi has signed a comprehensive partnership agreement across a range of services with Vietnam Development Bank.
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EDC has invested in an African tech fund to help Canadian companies tap into the burgeoning regional telecoms market.
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US Ex-Im has amended the US content policies for its short-term programmes for small businesses as part of its commitment to consider their unique business requirements.
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The Asian Development Bank (ADB) and Bank of China (BoC) have agreed to cooperate in a number of areas including regional trade finance.
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The Berne Union has welcomed the recovery for trade and export credit insurance but warns Basell III changes could impact trade volumes.
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Three export credit agencies have signed agreements to provide loans and guarantees for the Emirates Aluminium project in the United Arab Emirates – augmenting the original financing.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Dutch development bank FMO is providing a loan to Priorbank for onlending to SMEs.
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Dealogic has released the full league tables for trade finance loans up to the end of 1H 2010. Here are the ECA finance tables.
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Dealogic: Global trade finance volume down 39% to $51.7 billion; excluding bilateral loans, volume rose 42% year-on-year; BNP Paribas leads MLA ranking for syndicated trade financing.
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The Asian Development Bank has signed a loan to support clean energy projects in the Greater Mekong sub region and South Asia.
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UK firms need to exploit export opportunities in Asia says UK Secretary of State Vincent Cable.
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NLMK has signed a loan agreement with the European Bank for Reconstruction and Development to finance its Energy Efficiency Programme.
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International Finance Corporation has signed an equity investment in Agri-Vie Agribusiness private equity fund to finance food and agribusiness companies in sub-Saharan Africa.
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The International Islamic Trade Finance Corporation and the Saudi Export Programme have signed a syndication for an Egyptian corporation to import petroleum products from Saudi Arabia.
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International finance company Barrett Trade & Finance Group has completed a US Ex-Im backed financing arrangement for US equipment purchase to help clean up oil pools in Romania.
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After originally declining its application US Ex-Im has agreed to review a request by Reliance Power of India asking the bank to guarantee a new coal-fired power plant.
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Luis Alberto Moreno has been re-elected president of the Inter-American Development Bank.
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The European Bank for Reconstruction and Development has signed a loan for the construction of the first coal washing plant in Mongolia, its largest investment in Mongolia to date.
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Russian mobile operator Mobile TeleSystems has obtained an export credit line from BNP Paribas, Credit Agricole, and Société Générale.
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The Industrial Bank of Korea has joined the Inter American Development Bank’s trade finance facilitation programme to support Korean exports to the Latin American region.
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The US trade promotion agency Overseas Private Investment Corporation will invest in five private equity funds in the Middle East and North Africa region.
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Raiffeisenbank has joined IFC’s Global Trade Finance Programme.
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South Korean power equipment manufacturer Doosan Heavy Industries and Construction has signed a deal with Korea Electric Power Corporation to provide a nuclear reactor to the UAE.
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Photos from Trade Finance Magazine’s London Awards Dinner 2010 held at the Sheraton’s Park Lane Hotel.
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Kenya’s Export Promotion Council has demanded its government establish an export credit agency to help fund exporters.
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US Ex-Im has reconsidered the rejection of Reliance Power’s loan application for the Sasan coal power plant project in light of information on additional renewables projects.
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The Export-Import Bank of the United States has signed a framework agreement with Brazil's BNDES, to seek opportunities for jointly promoting investments and projects in Brazil.
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The Islamic Trade Finance Corporation (ITFC) has increased its activities in Egypt by 138% over 2009 in just the first six months of this year, while also furthering its work with Saudi Export Program.
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The Import-Export Bank of Thailand has launched its new cash and insurance service to boost exports destined for Asia and Australasia.
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ANZ and Australia’s export credit agency EFIC have signed a working capital guarantee facility agreement to assist Australian exporters.
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June
Combating bribery in $1.5 trillion export credit market requires stronger action by agencies according to a report by Transparency International.
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IFC is supporting Bancolombia with risk-hedging instruments for Colombian companies.
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Photos from Euromoney Seminars and Trade Finance Magazine’s Development and Agency Finance Conference 2010 held at the Westin hotel in Washington D.C.,US.
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The Inter-American Development Bank and Italian export credit agency Sace have signed an agreement to strengthen their collaboration.
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HSBC’s commercial banking division has released results of a survey that shows more mid-sized US companies looking to expand sales overseas.
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International Finance Corporation has made its first investment by the IFC African, Latin American and Caribbean Fund to support HeidelbergCement in West Africa.
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IFC has arranged a syndicated A/B loan for Brazil’s Banco Daycoval to increase access to finance for SMEs.
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Aviation Capital Group has issued its second US Ex-Im bond top finance the purchase of five Boeing planes.
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The African Development Bank has signed a senior loan to fund South African logistics giant Transnet Freight Rail's capitalised rail maintenance plan.
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The US Department of Agriculture’s Commodity Credit Corporation has approved the Bulgarian Development Bank to participate in its Export Credit Guarantee Programme.
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The Vietnam National Oil and Gas Group plans to sign six memorandums of understanding with Japan’s JBIC and NEXI to secure finance and insurance for export credit loans.
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The Asian Development Bank is planning financing to support energy efficiency and renewable energy development initiatives in the Philippines.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The Export-Import Bank of the United States has signed a trade MoU with Russia’s state-owned Vnesheconombank.
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Brazilian state oil company Petrobras has secured a framework agreement from the Norwegian Guarantee Institute for Export Credits (GIEK).
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Swedish automotive products maker Autoliv has secured two new revolving credit facilities.
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International Trade Finance Corporation, part of a group of Islamic Development Bank, has signed a loan for the International Bank of Azerbaijan to finance its trade operations.
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The Nigerian trade and export finance market is getting back on track following last year's banking shake-up.
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Italian export credit agency Sace and Africa Trade Insurance Agency are furthering their ties.
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The EBRD has launched a new financing facility for Turkish banks to on-lend to Turkish micro, small and medium enterprises (MSMEs).
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Banks have signed a jumbo project financing for Saudi Electricity Co’s (SEC) 1,730MW gas-fired independent power project (IPP) Riyad PP1.
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Sam McManus assesses the growth of export credit agency involvement in the sub-Saharan region.
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Dickon Harris examines how Nordic export credit agencies are reacting to the first steps of a global recovery.
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Indonesian state-owned national carrier Garuda is negotiating a loan with the Export-Import Bank of the United States (US Ex-Im) to support its purchase of 20 Boeing aircraft.
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The Export-Import Bank of the United States has pre-approved 11 Indonesian banks to under a new jumbo bank facility to support US exports to Indonesia.
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Swedish state insurer EKN sees opportunities in Asia as it relaxes restrictions for Indonesia, the Philippines and Vietnam.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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India’s Ministry of Commerce will create a sovereign-backed fund to boost trade and investment for domestic power utilities in South Asia.
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Total and Aramco’s Saudi Arabia-based Jubail oil refinery merchant financing has scheduled its financing close date.
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The European Bank for Reconstruction and Development, the European Investment Bank and the EU’s Neighbourhood Investment Facility have signed loans to modernise Moldova’s water system.
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The Export Import Bank of the United States has approved five medium-term insurance policies for exports which focus on infrastructure development in Chile.
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The Abu Dhabi-based Arab Trade Financing Programme (ATFP) has approved a spate of new trade deals and signed a new trade credit line for BankMuscat.
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Alcatel-Lucent has renewed its overall agreement with Office National Ducroire Delcredere, the Belgian Export Credit Agency.
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Cellular telecommunications company MTN Nigeria has obtained Nigeria's largest ever Naira-denominated syndication from a consortium of 17 banks to extend its services across the country.
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Aircrafter leaser Aircastle Limited is set to receive debt financing for seven new Airbus A330 aircraft from a group of European export credit agencies (ECAs).
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The Export-Import Bank of the United States has signed a credit line for the government of Vietnam for high-priority infrastructure projects in Vietnam.
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IFC has held a series of trade finance training seminars for Armenian banking professionals this week.
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GIEK has issued a bond guarantee to support a sale by OceanSaver to fit purification systems into three ships.
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EFIC’s third annual Global Readiness Index (GRI) shows Australian companies continue to seek out expansion opportunities across the world.
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The European Investment Bank has signed a loan facility with DONG Energy to finance the construction of the London Array offshore wind farm.
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AerCap subsidiary AerVenture has mandated Credit Agricole CIB and SMBC to finance eight Airbus A320 family aircraft.
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London-listed Russian miner Petropavlovsk’s discussions with Industrial and Commercial Bank of China to fund its Kimkano-Sutarskiy iron ore mining operation are progressing well.
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Seven banks and two export credit agencies are expected to lead the financing for Oman’s Barka 2 and Sohar 3 IPPs that will soon awarded to the GDF Suez-led consortium.
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Baja Mining Corp has signed an agreement with Louis Dreyfus Commodities that sees the project financing of the Boleo copper/cobalt mine in Mexico move forward.
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Development bank IFC has signed a shipping purchase loan to maritime service provider GAC Group to support offshore oil operations in Kazakhstan, Africa, and the Middle East.
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The European Bank for Reconstruction and Development has increased the financing available to the state Export-Import Bank of Ukraine to further support Ukrainian exporters and importers.
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The IFC is partnering with Russia’s Bank Saint Petersburg to expand access to trade finance for small and medium enterprises in the northwest region of Russia.
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Despite talks collapsing in March the Export-Import Bank of China has agreed to finance a 1,500-megawatt-capacity Coca Codo Sinclair hydro complex in Ecuador.
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US Ex-Im has approved its first direct loan to a private company in Saudi Arabia, sustaining jobs in Colorado.
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Societe Generale has arranged a US Ex-Im backed loan for Project Development International to export 121 firefighting vehicles to Ghana.
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The European Bank for Reconstruction and Development and Kazakhstan’s Kazyna Capital Management have invested in a restructuring fund to support the corporate sector.
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The Asian Development Bank has signed a loan to fund Garadagh Cement’s integrated cement plant in Azerbaijan, ADB's first ever private-sector infrastructure investment in the country.
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The Inter-American Development Bank is funding a programme to increase business productivity and competitiveness in Peru to facilitate the use of new free trade agreements.
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Iridium Communications selects Thales Alenia Space for next-generation satellite constellation with 95% guarantee from French export credit agency Coface.
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The Japan Bank for International Cooperation and the government of the Egypt have signed a memorandum of understanding to strengthen economic relations.
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Australia’s Export Finance and Insurance Corporation has developed a new loan facility to help producers finance Australian film and television productions for international export and distribution.
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EDC President Eric Siegel calls for Canadian exporters to focus on emerging Asia to help surpass economic growth expectations.
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Dubai Aerospace has priced its second US Ex-Im bond for two Boeing aircraft, as the export credit agency continues to see robust aircraft finance deal flow.
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JBIC and Nexi included in project finance debt for British Columbia’s Copper Mountain Mining project.
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May
The Export-Import Bank of the United States (US Ex-Im) took part in seminars in Dubai and Cairo this week to promote US exports to the Middle East and North Africa.
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The Asian Development Bank has priced a three-year global bond issue on the US dollar bond market to further expand its capital to be used in its regional operations.
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Eight development finance institutions have launched the African Financing Partnership to enable greater cooperation, co-financing, and evaluation of private sector projects across the continent.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Chinese state-owned export and credit insurer Sinosure has plans to enhance its short-term export and credit insurance capabilities.
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Romanian export credit agency, Eximbank of Romania, has agreed to offer its exporters credit for financing exports through trade receivables and invoices.
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Caribbean Development Bank, European Investment Bank, FMO, IFC and Proparco have agreed to increase coordination across their different projects within the Caribbean.
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Asian Development Bank has signed a grant to build a railway line that connects the Afghan city of Mazar-e-Sharif to Uzbekistan's expansive rail network and regional markets in Europe and Asia.
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International Lease Finance Corporation has mandated BNP Paribas to arrange an export credit financing for six Airbus A320 aircraft.
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The Export and Import Bank of India will open an East African office in Addis Ababa, Ethiopia.
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Germany’s AKA Export Finance Bank has signed a credit line agreement with Vietnam’s Military Commercial Joint Stock Bank to fund the import of goods from Germany to Vietnam.
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Ivanhoe Mines has signed a mandate letter with IFIs and is selecting lead arrangers for a major financing package for the construction of a mining complex in southern Mongolia.
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Italian export credit agency Sace has seen its head of Sub-Saharan Africa elected to the board of African Trade Insurance Agency.
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The African Development Bank has approved financing for four new operations in Liberia, Cape Verde, South Africa and Burundi at a recent board meeting.
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BNP Paribas Fortis has signed a credit facility to digital cinema service company XDC to finance the integration of digital cinema in Europe.
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The African Development Bank has signed an equity investment in the African Agriculture Fund to support agri-companies operating on the continent.
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Commentary from Stephen Poloz, senior vice-president, financing, Export Development Canada (EDC).
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The Asian Development Bank (ADB) has held its 43rd Annual Meeting in Tashkent, Uzbekistan, at which the role of trade, infrastructure development and cooperation in post-crisis Asia were cited as vital to building a more resilient economy.
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Most active TFP issuing banks and confirming banks in 2009 by number of transactions.
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Highlights from the May 2010 print edition of Trade Finance magazine.
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The Association of Southeast Asian Nations is considering creating a trade finance fund for regional exporters.
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IFC will provide a trade finance loan to Nepal Investment Bank through its Global Trade Finance Program to enhance its support for local enterprises and help boost international trade opportunities.
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Access Bank has been awarded the IFC’s most active issuing African bank during 2009.
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By Rudolf Putz, head of Trade Facilitation Programme, EBRD.
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Dickon Harris analyses Russian fertiliser EuroChem’s debut export credit agency financing.
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As the EBRD celebrates ten years of the Trade Facilitation Programme (TFP), Dickon Harris looks at its continuing relevance to the market.
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The Islamic Development Bank Group has hosted the fourth coordination meeting for local, Arab and Islamic trade finance and trade guarantee institutions to support the growth of intra-OIC trade.
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As with other multilateral financial institutions the IADB has seen activity reaching record levels. One particularly important programme has been the A/B loan structure. Oliver O’Connell speaks with Jozef Henriquez, head of syndications, for an update.
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US exports rose 16.7% in 1Q demonstrating progress towards the President’s National Exports Initiative goal of doubling exports in five years.
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PNC Bank loan and US Ex-Im medium term insurance facilitate railroad equipment exports to Brazil.
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Australian export credit agency, EFIC, is providing payment bonds to support Fitch Metals Engineering’s (FME) coil coating equipment contract with Brazil’s Tekno.
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Norway’s state export credit insurer is to receive additional funding from the Norwegian government to support the country’s maritime supply industry.
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IFC Asset Management Company, a wholly owned subsidiary of IFC, has appointed a new head of legal at the company.
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The EBRD and the Korea Trade-Investment Promotion Agency have signed a trade agreement.
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The EBRD has signed two loans to Sodrugestvo Group, a Russian agribusiness group.
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The EBRD is providing a trade financing facility to Raiffeisenbank Austria to support Croatian exporters.
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The IFC is developing draft proposal for a global warehouse financing programme with the intention of easing access to finance for smaller producers.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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French export credit agency Coface has underlined its commitment to satellite projects by agreeing to guarantee a contract to launch Hughes Communications’ Jupiter satellite.
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Belgian export credit agency ONDD has acquired a 33% stake in Austrian credit insurer Garant.
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Export-Import Bank of India has extended a credit line to the Government of Ghana to finance improved fish harvesting and waste management support projects in Ghana.
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Russian state development bank Vnesheconombank has extended banking guarantees to Germany’s Kreditanstalt fur Wiederaufbau Bank to finance Russian SMEs.
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Export-import bank of Korea has signed loan agreements for Uzbekistan’s Asaka Bank and National Bank of Uzbekistan for Foreign Economic Activity to finance investment projects.
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Australian export credit agency EFIC has launched a new website to help Australian small and medium-sized exporters.
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The European Bank for Reconstruction and Development has offered a finance facility to cotton trading company ECOM to provide funding to cotton farmers in Tajikistan.
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Tokyo Electric Power Company is partnering in South Texas Project Nuclear Expansion helping to secure financing from Japan through JBIC and Nexi.
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UK SMEs have experienced a “better-than-expected” rise in export orders, thanks to the relative weakness of Sterling according to a survey conducted by business lobbyist the Confederation of British Industry (CBI).
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The Prime Minister of the Czech Republic has been appointed by the European Bank for Reconstruction and Development as vice president, operational policies.
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The European Bank for Reconstruction and Development is to launch its new Western Balkans private sector support facility which will provide credit lines to local banks in the region.
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Toronto-Dominion Bank finances Boeing export credit-backed deal for Turkey’s SunExpress airline.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The Japan Bank for International Cooperation has signed a memorandum of understanding with the Asian Development Bank to finance projects aimed at preserving the global environment.
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The New Zealand Export Credit Office has joined The Prague Club to develop its export credit and investment insurance schemes.
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It has been a long time coming, but the Brazilian government has announced the creation of an Export-Import Bank, leaving Russia as the only BRIC without an official export credit agency.
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China’s Sinosure and Norway’s Giek have joined forced to back the construction of a drilling vessel to be built by Norway’s Sevan Marine.
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US-based satellite mobile operator is choosing potential equipment suppliers and the potential for export credit agency involvement for its next generation satellite project.
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Asian Development Bank will offer a revolving credit line to support trade financing for Azerbaijan’s Bank of Baku.
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The Export Credit Guarantee Agency of Oman has signed cooperation agreements with the Islamic Corporation of Investment and Export Credit to help Omani exporters access credit insurance.
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BNY Mellon has arranged an export credit loan guarantee to help South Carolina-based Morrison Textile Machinery fulfil an order for Egypt’s DNM Textiles.
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The World Customs Organisation and ADB have signed an MoU boosting their partnership in facilitating trade.
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The Basel Committee has recognised MIGA as a highly rated-multilateral – a classification that will encourage FDI to developing countries by lowering loan costs.
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Sinosure has reported strong growth in export credit insurance for the first quarter of the year.
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The Asian Development Bank has launched a new solar energy initiative at its annual meeting in Tashkent.
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The Asian Development Bank (ADB) and Commerzbank have signed a risk-sharing agreement to boost trade in Asia under ADB’s trade facilitation programme.
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April
Asian Development Bank has signed two loan agreements with Azerbaijan’s AGBank to expand its revolver loan and support the development of entrepreneurship in Azerbaijan.
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Russia’s Alfa-Bank expands its operations with export finance head appointment.
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The EBRD is launching online training for issuing banks under its trade facilitation programme (TFP).
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Norwegian export credit agency GIEK is to receive a boost to help the country’s key shipbuilding and offshore equipment industries.
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An independent panel, based in Lima, established to advise on the environmental and social effects of development in south central Peru, is now operational.
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Silicon Valley Bank has surpassed its own record for the second time in six months, substantially growing working capital loan guarantees commitments with US Ex-Im.
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Lebanon’s BLC Bank has joined IFC’s Global Trade Finance Programme as an issuing bank.
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The World Bank predicts a slowing of the global trade recovery in 2010 as governmental financial stimuli wane but highlights the importance of trade in the developing countries to drive growth.
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IFC has revealed plans to open new ‘hubs’ in Brazil and Hong Kong at its third annual Global Trade Finance Programme (GTFP) Bank Partners Meeting held this week in Istanbul.
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Pamella McLean, managing director of the National Export Import Bank of Jamaica will retire at the end of April.
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EDC’s Global Export Forecast sees growth in Canadian exports but notes that four key threats to the global recovery remain.
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Vietnamese Airlines Leasing Corporation (VALC) is using export credit to finance the purchase of ATR aircraft.
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GE Commercial Aviation Services (Gecas) has priced its second US Ex-Im bond to refinance four Boeing aircraft.
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Australia’s export credit agency Export Finance and Insurance Corporation has provided a bonding facility to GRM International to support its international development projects.
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The IFC has signed a loan to a partnership of the Mwalimu Nyerere Foundation and China’s CRJE Estate to finance a building complex in Tanzania.
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The Asian Development Bank has appointed a new vice president responsible for its private sector and cofinancing operations.
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Eric Siegel, CEO of Export Development Canada (EDC), is to retire at the end of the year.
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The Export-Import Bank of the United States has officially launched its new streamlined financing product for US exports to small solar-energy projects.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Deutsche Bank has appointed two new members to its structured trade and export finance team in Asia.
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The International Chambers of Commerce has released its survey, compiled from 161 banks in 75 countries, commissioned to track the developments in the trade finance industry.
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The Swedish Export Credit Corporation has signed an agreement with trade financer Northstar Europe to offer customer financing for small and medium sized Swedish enterprises.
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The Asian Development Bank has approved financing to build Central Asia's first 800 MW combined cycle gas turbine power plant to improve energy security and energy efficiency in Uzbekistan.
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The European Bank for Reconstruction and Development’s president has proposed that the Prime Minister of the Czech Republic be appointed EBRD vice president.
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Standard Chartered and IFC have signed an agreement for a unfunded risk participation arrangement that will help increase the availability of trade finance in emerging markets.
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IFC is providing financing through it Global Trade Finance Programme to increase access to capital for agribusinesses in Argentina.
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The Inter-American Development Bank is increasing the amount of capital available for wind, solar and hydro projects.
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VTB Bank and a consortium of lenders have signed a dual tranche trade-related syndicated loan for Belarusian Bank for Development and Reconstruction.
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Russia’s Promsvyazbank has decided to stick to a club deal, and avoid general syndication, for a general working capital facility that represents the first Russian FI syndication completed this year.
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European Bank for Reconstruction and Development has called for international financial institutions to join forces in coordinating their efforts in the Kyrgyz Republic in the wake of the recent violence.
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Asian Development Bank has signed a loan for the People’s Republic of China to construct biogas plants and expand the use of biogas energy generated from waste materials.
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Brazil, Russia, India and China’s development banks have signed a memorandum of cooperation to enhance trade and economic relations between BRIC countries.
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African Development Bank partnership has launched a new website to coordinate financial sector development on the continent.
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The Export-Import Bank of the United States has more than doubled its number of export loan authorisations for the first half of FY2010.
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International Finance Corporation and Morocco’s Central Bank have partnered to create a study tour to promote the creation of private credit bureaus to encourage banks to boost private sector lending.
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The Nigerian Government has mandated consultancy firm KPMG professional services to augment the country’s export credit agency - the Nigerian Export Import Bank.
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International Finance Corporation will provide a loan and trade finance guarantee to Tutunska Banka to extend loans to small and medium enterprises in Macedonia.
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Banks have signed a 10-year loan for Russian fertiliser firm EuroChem backed by ECIC, the South African export credit agency.
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The European Bank for reconstruction and Development is providing a loan to Turkmenistan’s Biyat to finance the construction of a new CO2 generation plant.
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Standard Chartered Bank has signed a bilateral loan facility with the UK’s Bibby Offshore Limited to acquire a diving support vessel from Norway’s Volstad Subsea.
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Korean Airlines has mandated banks for two separate export credit agency-backed deals.
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After a busy 2009 Sace, the Italian export credit agency, has announced plans to insure more business in Russia.
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Kuwait’s Arab Investment and Export Credit Guarantee Corporation has signed a letters of credit confirmation insurance contract with Malta-based trade finance banking group FIMBank.
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Citi has been mandated by Vietnam National Coal Mineral Industries Group to arrange a term-loan facility to finance the Lam Dong Bauxite Alumina Project in Vietnam.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The Export Credit Guarantee Company of Egypt and the African Trade Insurance Agency have signed a memorandum of understanding to facilitate investment and exports into Africa.
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The Asian Development Bank and ASEAN nations, with China, Japan and Korea have approved the establishment of the Credit Guarantee and Investment Facility.
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WestLB’s hires New York–based director for its global infrastructure team.
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Arnold & Porter’s former partner Eli Whitney Debevoise, II, has rejoined the firm after serving as US executive director at the World Bank
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International finance institutions have established a regional recovery fund to invest in midsize companies facing financing difficulties in Central and Eastern Europe, Central Asia, and Turkey.
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ONDD, the Belgian public export credit agency along with Russian insurer Ingosstrakh has agreed a capital increase in their joint venture Russian insurer INGO-ONDD.
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The Organisation for Economic Co-operation and Development has upgraded Indonesia on its country risk classification, the only upgrade out of 161 nations reviewed.
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Multilateral development banks have agreed to collectively bar firms and individuals found to have engaged in wrongdoing in their development projects.
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The International Islamic Trade Finance Corporation has signed a trade finance agreement with the UAE’s Fujairah Cement Industries.
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The Japan Bank for International Cooperation has signed a loan for SKZ-U to construct a sulphuric acid plant in Kazakhstan. The acid produced will be used for Japanese uranium production.
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UK export credit agency ECGD is supporting a Sovereign Star Trade Finance-arranged deal for a Turkish recycling centre to buy a turbine system.
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Banks have launched a trade refinancing loan for the African Export-Import Bank.
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The European Bank for Reconstruction and Development has signed a credit line to Banca Sociala for on-lending to small and medium-sized enterprises in Moldova.
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Dealogic has released the full league tables for trade finance loans up to the end of 1Q 2010. Here are the ECA finance tables.
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Global trade finance volume down 55% to $20 biilion, ECA guarantees accounted for 24% of trade finance loan volume, and BNP Paribas leads the MLA rankings for global trade finance.
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A Cinpharm pharmaceutical production plant in Cameroon, part financed by German development bank DEG, has been inaugurated.
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Italian export credit agency Sace has increased the number of countries where it will operate.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Japan’s Nippon Export and Investment Insurance has agreed to provide buyer's credit insurance for PT. Telekomunikasi Indonesia’s submarine optic-fiber cable system export project.
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The US is suspending its cotton export credit programme as part of a bid to end a trade dispute with Brazil.
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Bank of the West is financing the export of paving equipment to the Czech Republic with medium term insurance from US Ex-Im.
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JBIC has signed a loan and memorandum of understanding with CIMB as part of a wider strategy in developing trade with ASEAN.
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The Netherlands Development Finance Company has revealed a 25% growth in profit in 2009 compared to the previous year.
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OPIC is lending its support to Afghanistan’s SMEs through a loan to Afghan Growth Finance, a non-bank financial institution in Afghanistan.
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Lead arrangers Banca de Inversion Bancolombia and the Central American Bank for Economic Integration have closed financing of the Jaguar coal power project in Guatemala.
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The European Bank for Reconstruction and Development has signed a credit line to CIB Bank for on-lending to small and medium enterprises in Hungary.
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The Arab Investment & Export Credit Guarantee Corporation and French export credit agency Coface, will hold the first country risk conference organised in the State of Kuwait.
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Mizuho is cofinancing a buyer credit for Singapore’s Tata NYK for the purchase of a bulk carrier from Sumitomo Corporation.
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Brazilian ship-owner Transpetro, Eisa Shipyard and BNDES have signed the financing contract for four Panamax vessels under the Promef programme.
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Google and the Export-Import Bank of the United States have joined forces to help small businesses harness the internet to sell globally.
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Finnvera is guaranteeing a vendor financing agreement for UAE telecoms operator Du.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The EBRD has announced plans to help build a new private bank in Turkmenistan as part of its new strategy to boost lending to small and medium-sized businesses in the country.
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The Japan Bank for International Cooperation has signed a project financing loan with Dutch P&M Drilling International to finance an ultra-deepwater oil drillship project in Brazil.
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Romanian bank Bancpost has joined the International Finance Corporation’s Global Trade Finance Programme as an issuing bank to expand its trade finance operations in Romania.
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March
In its latest equipment purchase, Russian mobile operator MTS has closed a financing deal with Crédit Agricole and BNP Paribas.
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The European Bank for Reconstruction and Development is providing a syndicated loan to wholly-owned subsidiary of Noble Group, Noble Hammadde Ticaret, a Turkish agricultural importer.
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Mizuho and Japan Bank for International Cooperation have cofinanced a water supply and sewerage system operation project in the Maldives.
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Francisco Sánchez is to lead the US Department of Commerce’s International Trade Administration.
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Standard Chartered Bank has signed a bilateral loan facility with the UK’s Bibby Offshore Limited to acquire a diving support vessel from Norway’s Volstad Subsea.
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The Japan Bank for International Cooperation has signed a buyer's credit agreement with PT. Telekomunikasi Indonesia to finance a high-capacity submarine optic-fibre cable system.
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In its latest equipment purchase, Russian mobile operator MTS has closed a financing deal with Crédit Agricole and BNP Paribas.
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International Finance Corporation has invested in equity and provided advisory support to help AccessBank Tajikistan to expand the availability of credit for micro and small enterprises in Tajikistan.
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International Finance Corporation has signed a financing agreement and a syndication agreement with Jordan Phosphate Mines Company to build a new phosphate export terminal.
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Introduction - Packing a punch in tough times.
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After the sharpest decline in more than 70 years, world trade is set to rebound in 2010 with 9.5% growth, according to World Trade Organisation economists.
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Similar to the US’s National Exports Initiative, the German government is also enhancing the support it provides to exporters.
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Peggy Houlihan is stepping down from her role president of US lobby group the Small Business Exporters Association (SBEA).
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Norwegian export credit institution Eksportfinans has closed its three year global bond issuance.
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Standard and Poor's Ratings Services has raised the financial strength ratings for the Kuwait-domiciled Arab Investment and Export Credit Guarantee Corporation.
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Société Générale and BTMU have closed a buyer credit loan, backed by Japan’s Nippon Export and Investment Insurance, on behalf of J. Lauritzen to buy six bulk carriers built by Japanese shipyards.
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The Japan Bank for International Cooperation has signed a loan agreement with ICICI Bank in India to support its trade finance.
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China Development Bank has signed a credit line to Russian state-owned Vnesheconombank to finance investment projects implemented within Russia.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Jonathan Bell talks with Paul Richards, global head of structured export finance at ANZ, based in Sydney, about the bank’s recent hirings, expansion of activity in Asia-Pacific and views on trends in trade flows.
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Four Mongolian banks have joined the Asian Development Bank’s Trade Finance Facilitation Programme.
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CAF has approved $36 million to support Argentina’s satellite programme which has the potential to become a significant export product.
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The Inter-American Development Bank is strengthening its partnership with China a year on from the country signing up for membership of the bank.
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The Japan Bank for International Cooperation has signed a loan with the government of Turkmenistan for the construction of the country's largest ammonia and urea fertilizer production plant.
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UK factoring and invoice discounting firm Ultimate Finance Group has announced it will begin to offer trade finance.
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The European Bank for Development and Reconstruction and Bratislava-based Tatra banka have signed a loan agreement to improve Slovakia’s energy efficiency.
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The Netherlands Development Finance Company has signed a memorandum of understanding with the African Financing Partnership to enhance co-financing for private sector projects in Africa.
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The OPEC Fund for International Development (OFID) has signed a loan with Armenia’s Ardshininvestbank to support SME lending.
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The European Bank of Reconstruction and Development is providing a credit line to Banca Intesa Beograd for on-lending to small and medium enterprises in Serbia.
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The Japan Bank for International Cooperation has signed a loan agreement with the Korea Development Bank for the purchase of two Japan-built carriers by South Korea Shipping.
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The African Development Bank has approved loans to the Egyptian Refining Company for the construction of an oil refinery, part of the biggest project ever undertaken in Egypt.
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Six financial institutions from Bolivia, China, Spain and the US have joined the Inter-American Development Bank’s Trade Finance Facilitation Programme (TFFP).
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People’s Bank of China governor says China is open to talks on currency values, but like the US it too must create jobs through exports.
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The European Bank of Reconstruction and Development has signed a synthetic loan to Finca Uco to boost the availability of local currency financing for micro and small enterprises in Armenia.
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Australia’s shipbuilders have asked for the country’s Export Finance and Insurance Corporation to ease its lending terms.
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Saudi Aramco Total Refining & Petrochemical Company has finalised the banking allocation for its jumbo ECA-backed Jubail refinery project in Saudi Arabia.
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The Export-Import Bank of Thailand has appointed Wantana Mongkolsri as executive vice president overseeing SME marketing functions.
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Brazilian carrier Gol has closed its bond guaranteed by export credit agency the Export-Import Bank of the United States to finance the delivery of two Boeing 737-800 aircraft.
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The Japan Bank for International Cooperation has signed a loan with Kubota Saudi Arabia Company to build a petrochemical reactor tube manufacturing plant in Saudi Arabia.
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Standard Chartered has signed two pre-delivery payments facilities with Tiger Airways to pay for the delivery and purchase of aircraft from Airbus.
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A total of 26 banks have closed a multi-billion euro ECA-backed debt package for Phase 1 of the Nord Stream pipeline.
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The European Commission has authorised a measure adopted by Slovenia to provide short-term export credit insurance cover to the private market.
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Export Finance and Insurance Corporation is providing a performance bond to support Aircraft Support Industries’ contract to build an aircraft maintenance hangar in Abu Dhabi.
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The Export-Import Bank of Korea has issued five and a half-year senior unsecured bonds to raise funding for 2010.
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Sace has approved a guarantee as part of a jumbo VEB-led project financing to build a dehydrogenation plant for Russian petrochemcial firm Sibur.
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The Export-Import Bank of the United States has named the winners for its deal of the year, small business exporter of the year and green transaction of the year awards.
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Nigeria’s Skye Bank has signed a trade credit line with the Korean Export-Import Bank boost its trade and import operations.
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The IFC and Peru LNG have helped Agricola Viñasol to obtain a GBF loan to diversify its portfolio of agricultural products in local and export markets.
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Export-Import Bank of China has signed a loan agreement to construct Mattala Airport and the Colombo-Matara Railway in Sri Lanka.
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The European Bank for Reconstruction and Development has approved a convertible loan to finance the completion of Petrolinvest oil exploration works in Kazakhstan.
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Al Jaber is planning to raise funds through export credit agency facilities and the bond market.
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Remarks by President Obama at the Export-Import Bank's Annual Conference at the Omni Shoreham Hotel, Washington, DC. Source: www.whitehouse.gov
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The German government has extended its export credit refinancing aid scheme for long-term export credit for a further six months.
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A British Chambers of Commerce survey finds that UK exporting businesses are still experiencing severe difficulties securing essential export trade finance.
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The Export-Import Bank of the United States has named two new senior vice presidents for congressional affairs and small business.
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The Japan Bank for International Cooperation has agreed to finance two separate power projects in Indonesia.
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President Obama is confirmed to address US Ex-Im’s annual conference underlining the administration’s commitment to create jobs through exports.
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Canadian ECA, Export Development Canada, is set to invest in XPV Water Fund, a Canadian venture capital fund focused on the water sector.
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The International Finance Corporation has hosted a series of workshops to improve credit reporting in Ethiopia, Mozambique and Tanzania.
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ANZ has expanded its team and reach in export finance with key hires for both Singapore and London.
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The Andean Development Corporation (CAF) has approved a $40 million capital investment in the Peruvian Infrastructure Fund.
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Export Development Canada is providing a $48 million loan to Russia’s Gazprombank to finance the purchase of equipment to capture and process flared gas.
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The EBRD has signed a trade financing to Byblos Bank Armenia, which will include a local currency element, a first for an EBRD financing in Armenia.
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Standard Bank and the OPEC Fund for International Development have today signed an agreement to launch two African trade financing initiatives.
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OFID and the Eastern and Southern African Trade and Development Bank have signed a one-year renewable line of credit to boost trade in sub-Saharan Africa.
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The EBRD has signed a trade loan to Ameriabank for on-lending to Armenian companies under its medium sized co-financing facility (MCFF).
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Sapphire Energy has hired former US Export-Import Bank and TARP executive James Lambright to drive its international expansion efforts.
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The Multilateral Investment Guarantee Agency and Korea Exim-bank have signed a MoU to promote FDI into developing countries and support Korean outward investment.
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An IFC loan to China’s Xiwang Sugar holdings will boost both rural employment and further develop sustainable agribusiness.
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Australian export credit agency EFIC is underwriting a performance bond enabling Park Assist to fulfil a contract in Seattle.
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The EBRD, the European Investment Bank Group, and the World Bank under a joint IFI Action Plan have supplied over Eu19 billion to support banks in central and Eastern Europe during 2009.
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The Australian Institute of Export (AIEx) has appointed a new national president.
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The top 38 export credit agencies have been ranked by BExA according to the different products they offer their exporters.
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US Ex-Im and Hexim have agreed to co-guarantee the sale of a gas turbine generator from GE Energy to a power plant located in Povazska Bystrica, Slovakia.
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February
Global insurer Zurich’s North America Surety, Credit & Political Risk group has signed a MoU with Korea Export Insurance Corporation (KEIC), Korea’ export insurance agency.
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Pakistan’s engineering industry has called for a government backed export credit insurance scheme to cover the sector.
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Australia’s export credit agency Export Finance and Insurance Corporation is financing manufacturer Footcare International to expand its overseas sales.
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The EBRD has sold its minority stake in Centerra Gold, the Canadian-based gold mining and exploration company, operating primarily in the Kyrgyz Republic and Mongolia.
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Banks have signed the Euler Hermes-backed tranche of a jumbo project financing to build a 500 tonne polypropylene production complex in Russia.
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US Ex-Im and Banobras have signed a memorandum to support up to $1 billion in US exports to back Mexico’s infrastructure development programme.
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The Japan Bank for International Cooperation (JBIC) has agreed a loan with Japan’s Engineering-Plastics Corporation to build a new polycarbonate production facility in China.
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The International Finance Corporation has recorded an 80% rise in the number of trade finance guarantees approved for Pakistan last year compared to 2008.
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The EBRD and Intesa Sanpaolo Group have created a financing package for small and medium enterprises in central and Eastern Europe.
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World trade has experienced the largest single drop since the Second World War, according to the World Trade Organisation.
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A Mexican national has been indicted and arrested in connection with an alleged scheme to defraud US Ex-Im.
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Asian Development Bank President Haruhiko Kuroda has announced that ADB will open a resident mission in Turkmenistan's capital, Ashgabat.
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Citi and Deutsche Bank have signed a buyer credit for telecoms firm, Telefónica, backed by Swedish export credit agency EKN.
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The Asian Development Bank (ADB) has signed the first five Philippine banks to its Trade Finance Facilitation Programme (TFFP).
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Africa’s Export-Import Bank (Afreximbank) has unveiled a financing package for Zimbabwe’s gold and platinum mines.
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The Reserve Bank of India has lowered the foreign currency export credit rate to aid Indian exports.
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The European Bank for Reconstruction and Development is to provide financing to Leighton Mongolia to offer services for at least two Mongolian projects.
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US Ex-Im has approved ten members to its sub-Saharan Africa Advisory Committee.
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The British Exporters Association (BExA) has launched a manifesto detailing a list of changes it wishes to see in the way that the UK government supports exports.
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The heads of the USTR, Department of Commerce and SBA are all scheduled to speak at the US Ex-Im annual conference.
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Russia’s Vnesheconombank and Abkhazia’s Universal-bank have signed a general agreement of cooperation to promote trade.
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Bolivia’s Banco Ganadero has joined the International Financial Corporation’s Global Trade Finance Programme to help expand trade financing for its clients.
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Angel Gurría, secretary-general of the OECD, will deliver a keynote address at the Export-Import Bank of the United States (US Ex-Im) 2010 Annual Conference.
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Papa New Guinea’s ECA-backed record liquefied natural gas project is set to close, oversubscribed, next month.
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Ecopetrol’s senior management has set out the company’s intentions for 2010 with plans to raise $3.5 billion in financing.
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Serbia’s state-owned Srbijagas has received an EBRD sovereign loan that will finance the upgrade of its gas transmission network as well as repay its short-term loans.
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The Export Credit Guarantee Corporation of India is to maintain its credit risk rating for European countries in danger of sovereign defaults.
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The African Development Bank has appointed Professor Mthuli Ncube as the bank’s new chief economist.
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The European Bank of Reconstruction and Development has signed a MoU to invest in infrastructure and industrial projects in Kazakhstan.
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German export credit agency Euler Hermes has created a new market management, marketing, commercial and distribution division.
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The Japan Bank for International Cooperation, with BTMU, have signed a buyer's credit agreement for Indonesia’s PT Pamapersada Nusantara.
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Belgian export credit agency ONDD has increased its insurance premiums for Estonia, Lithuania and Latvia.
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GE CEO Jeff Immelt and Caterpillar CEO Jim Owens are the opening speakers at the US Ex-Im Bank annual conference 2010 on March 11-12 In Washington, D.C.
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As the IFC’s Global Trade Liquidity Programme (GTLP) gets close to disbursing $1 billion, Dickon Harris spoke to German Vegarra, senior manager for global financial markets at the IFC, and Laura Mecagni, senior investment officer.
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Jonathan Bell talks with Jorge Tapia, global head of trade, export and commodity finance at Santander, based in Madrid, about the bank’s developments in the trade finance spectrum and its plans for the future.
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BNP Paribas has once again topped the Dealogic trade finance league tables completing an impressive $11.9 billion worth of business. Dickon Harris catches up with Olivier Paul, the bank’s global head of export finance.
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With US government attention focused on expanding exports, the role of the Export-Import Bank of the United States (US Ex-Im) has never been more important. Oliver O’Connell reviews how this is changing the export finance market.
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James Prusky and Robert Klein, principals at Crecera Finance Company, discuss the role of trade finance in unlocking growth in the Latin American SME market.
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Korea Eximbank is to provide additional funding for a selection of South Korean small and medium enterprises.
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Export Development Canada employees have raised funds for disaster relief in Haiti with EDC and the Canadian Government matching donations.
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Jordan has signed an extension line of credit agreement to increase a previous loan by the Arab Monetary Fund.
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Valentino Gallo, Managing Director and Americas Head, Citi, Export and Agency Finance, takes a look at the effects of last year’s dramatic shifts in the financial landscape and the way forward in 2010.
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Market comment: Antonio Alves, senior regional head of trade finance, Latin America and Caribbean region, IFC.
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The African Development Bank Group has signed a line of credit with Zambia National Commercial Bank.
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The Brunei Government will launch a financing scheme to help fund local small and medium enterprises expand into export markets.
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The Export-Import Bank of India has signed two separate lines of credit with the government of Mali to finance Indian exporters contributing to energy and agricultural products in Mali.
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The Economic Community of West African States has signed a credit line to the Nigerian Export Import Bank.
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The World Bank’s International Finance Corporation has promised to invest $2 billion in Africa by June 2010.
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Indian export credit agency, India Exim, has extended a line of credit to Mauritania to finance potable water and agricultural development projects.
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Vancouver’s Augusta Resource Corporation has signed a gold and silver streaming deal with Silver Wheaton Corporation to help fund its Rosemont Copper Project.
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Kexim is to devise a financing package for a large-scale nuclear reactor project in the United Arab Emirates.
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Standard Chartered Bank has provided its first microfinance loan in the Philippines to CARD Bank.
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IFC intends to dramatically increase its exposure to Pakistan and Afghanistan through the Global Trade Finance Programme and additional investment.
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A UK state business advisory committee has called for the UK export credit agency ECGD to adopt similar products to other European export credit agencies to help UK exporters weather the crisis.
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Calyon has arranged a US Ex-Im backed financing for the Czech Republic’s Travel Service Airline.
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Dubai Aerospace Enterprise is the latest organisation to price a US Ex-Im bond for the purchase of aircraft.
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Export Development Canada has announced the appointment of Dr. Olaf Weber as the first EDC Chair at the School of Environment, Enterprise and Development.
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The European Commission has authorised a new ‘take out’ option offered by Danish export credit agency EKF.
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The European Bank for Reconstruction and Development and the European Fund for Southeast Europe have provided a loan to support micro and small enterprises in Moldova.
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The International Finance Corporation has announced the target amount it intends to fund infra projects in Pakistan and Afghanistan.
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Israel’s Oil Refineries (ORL) has secured a financing framework to build a hydrocracker project- described as Israel’s “largest investment plan this year”.
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The Japan Bank for International Cooperation has signed a loan with Norske AEDC AS to acquire an interest in the Yme oil field in Norway.
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Iron ore and coal company Resourcehouse has secured Australia’s largest export contract - 20-year sales agreement with China Power International Development.
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The European Bank of Reconstruction and Development has announced a new strategy to support Kazakhstan, which does not involve either Alliance Bank or BTA Bank.
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Canadian export credit agency, EDC, has provided a loan to Chilean mining company Minera Los Pelambres.
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IFC, a member of the World Bank Group, and DEG, are hosting a G20 small and medium-sized enterprises finance meeting next week in Frankfurt, Germany.
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Intesa Sanpaolo and VTB Capital have signed a trade-realted loan to Belarusbank.
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The International Finance Corporation has held its first trade finance training seminar for Iraqi bankers in Beirut, Lebanon.
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Secretary of Commerce Gary Locke has announced that US Ex-Im is to play a vital role in President Obama’s National Export Initiative - details.
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Full text of the Commerce Secretary Gary Locke's announcement of the details of the National Exports Initiative.
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Vneshekonombank will set up an export credit agency within four years according to the bank’s CEO Vladimir Dmitriev.
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Abu Dhabi plans to create an export development agency in the third quarter of 2010 to boost its non-oil exports.
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World Bank President Robert Zoellick described a range of trade and development initiatives that the bank has planned for Africa in a speech given at the African Union Summit held 31 January 2010 in Addis Ababa.
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The Economic Development Investment Fund has joined the Export-Import Bank of the United States to increase support for Floridian exporters.
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The Singapore Economic Strategies Committee has recommended creating an export credit agency to help domestic firms expand abroad.
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The EBRD has issued a trade finance loan to ArmSwissBank to benefit small and medium enterprises in Armenia.
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The Export-Import Bank of the United States has named seven new members, and nine returning members, to the bank's Advisory Committee for 2010.
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Under the government of Japan’s Trade Finance Initiative, JBIC has signed its first loan to CAF to directly support trade finance.
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January
JPMorgan, the Export-Import Bank of the United States and the National Aviation Company of India (Air India) are celebrating the close of a jumbo US EX-Im backed financing to supply Boeing aircraft to Air India.
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The National Foreign Trade Council has welcomed President Obama’s commitment to expanding export opportunities and strengthening trade ties.
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The Export-Import Bank of the United States has authorised a record amount of loans during the first quarter of 2010 tripling the amount authorised in the same period of 2009.
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US Agriculture Secretary Tom Vilsack has announced the allocation of million of dollars to promote US food and agricultural exports.
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Finland’s export credit agency Finnvera is providing a guarantee on a buyer credit for Indian telecom company Idea Cellular Limited.
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Swedish export credit agency EKN is backing a buyer credit financing for PT Telekomunikasi Selular Indonesia (Telkomsel).
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JBIC is supporting the export to Turkey of a Japanese-built bulk carrier through the utilisation of a ship export credit line.
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The ADB is funding a study of market and finance barriers to boost cross-border trade by SMEs.
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What saved trade from collapsing totally during the global crisis? This column argues that export credit agencies played a key role in stabilising the trade finance market, and thus helped reduce credit risks and allowed exporters to offer open account terms in competitive markets.
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IFC plans to buy up nonperforming loans in Central and Eastern Europe in cooperation with Varde Partners, a distressed debt and asset firm.
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Deutsche Bank and Société Générale have closed a buyer credit loan to the Dominican Republic to build three new hospitals in Santo Domingo.
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Global heads of export finance from 13 leading banks gathered today in Paris to discuss issues that impact on the ECA-backed business line.
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USTR Ambassador Kirk designates assistant United States Trade Representative (AUSTR) for small business, market access, and industrial competitiveness.
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TARP chief operating officer, and former US Ex-Im officer joins DC office of law firm Cozen O’Connor.
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Colombian buyers and US exporters to benefit from $1 billion US Ex-Im preliminary commitment to Colombia’s Ecopetrol.
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The EBRD has signed an A B syndicated loan to Eolica Bulgaria to finance the development of the Suvorovo wind farm, in the north-eastern region of Bulgaria.
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Silicon Valley Bank has surpassed its own record by growing US Ex-Im working capital loan commitments by 74% in 2009.
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German export credit agency Euler Hermes is guaranteeing a buyer credit loan for Mauritanian miner Societe Nationale Industrielle et Miniere.
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The British Exporters Association chair is demanding that the UK government provide bond support to help UK exporters.
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A group of development funds including, Emerging Africa Infrastructure Fund, Finnfund, and FMO, have joined Citi to support steel manufacturer Nigerian Foundries capex needs.
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The Pakistan government is considering a short-term, low-cost trade liquidity facility for Pakistani traders form US Ex-Im.
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A potential slow-down in Chinese trade flows, and the rise of asset bubbles,are among some of the issues to be discussed at Davos, later in January.
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The World Economic Forum has highlighted the infrastructure funding gap as one of its top concerns as it publishes its report, Global Risks 2010, ahead of the Davos meeting.
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Korean Gas Corporation has closed a refinancing facility for four LNG carriers.
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IFC, a member of the World Bank Group, and Development Bank of Japan have agreed to streamline the process for providing loans to companies in developing countries.
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Brazilian offshore operator Schahin has signed a debt restructuring for its Black Gold drilling vessels, to be chartered by Petrobras.
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The Asian Development Bank is implementing changes to the way it does business to improve the quality and responsiveness of its work and lower transactions costs.
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Delivery of five new A320 aircraft accelerated to 2010 and early 2011 from original delivery dates in 2016 to facilitate growth in Australia and Asia.
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Dealogic has released the full league tables for trade finance loans up to the end of 4Q 2009. Here are the ECA finance tables.
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Dealogic league tables for 2009 show global trade finance volume up 3% to $155.1 billion and 4Q 2009 reached a record of $45.9 billion.
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Guy Beringer QC has been appointed as non-executive chairman of ECGD, the UK export credit agency.
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Development banks IFC and the EBRD have launched a fund to be managed by the US’s CRG Capital that will invest in distressed assets in Central and Eastern Europe.
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Swedish development agency Sida is set to do more business in Central and Eastern Europe as it receive guarantees through the second phase of IFC’s Global Trade Liquidity programme.
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Santander has a signed a long-term buyer credit deal to fund Mexico’s acquisition of military aircraft.
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Export-Import Bank of China is guaranteeing a trade loan for Chile’s Banco de Credito e Inversiones (BCI).
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The Overseas Private Investment Corporation is backing a trade financing to Lebanon’s Banque de la Mediterranee.
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Japanese export credit agency JBIC and Citi have signed a trade loan for the Development Bank of Kazakhstan.
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UK based renewables company, InfraCo, has applied for a Miga guarantee for the Cape Verde windfarm project.
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The Export Import Bank of India has signed a line of credit to Russia’s VEB.
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The development bank for the Netherlands, FMO, has signed its first loan in Kyrgyzstan to Kyrgyz Investment and Credit Bank.
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The US development bank, OPIC, has arranged a loan to Garanti bank for SME lending in Turkey.
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The Opec Fund for International Development has signed a loan with Amrahbank in Azerbaijan to increase the bank’s trade finance market coverage.
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The development bank for the Netherlands, FMO, has signed a $15 million term facility with Guaranty Trust Bank to boost export businesses in Ghana.
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Miga has guaranteed a funding package to UniCredit Leasing in Latvia.
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German development bank, KfW, is refinancing the South American development bank, CAF.
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The Inter-American Development bank has arranged a loan to Chile’s Banco de Crédito e Inversiones for unbanked micro-entrepreneurs.
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The African Development Bank has signed its largest private-sector loan to date for United Bank for Africa for trade finance purposes.
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The Andean Development Corporation has signed a loan agreement with Venezuela for the Termozulia III Thermoelectric Project.
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Inter-American Development Bank posts record year thanks to response to Latin American and Caribbean demand for financing in wake of global crisis.
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Singapore’s Tiger Airways has gained ECA backing for the purchase of two Airbus A320-200s.
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JBIC credit line will help grow Japanese exports to Bulgaria.
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Change in status further opens up three new markets for US exporters.
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Export credit continues to play a strong role in Eskom’s plans for expansion. Two export credit deals have recently signed for the South African power company.
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Russia’s Novolipetsk Steel has secured its first multi-sourced export credit agency deal.
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Dubai-based Al Jaber Aviation has closed an ECA financing for Airbus aeroplanes.
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The German and Dutch development banks (DEG and FMO) are financing a recycling plant in Vietnam.
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BNP Paribas and SG have signed a Coface-backed export financing to Societe Europeenne des Satellites to acquire four new satellites.
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The Asia Development Bank is providing loans in order to support public-private partnership initiatives in India.
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US Ex-Im has arranged a loan to London-based Avanti Communications to launch the Hylas 2 satellite.
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Pan-African export credit agency African Export-Import Bank (Afreximbank) has seen its latest trade refinancing more than double as banks rushed to join the deal before year-end.
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IFC mulls role in supporting emerging market suppliers’ interest in supply chain finance solutions.