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March
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 Japan Bank for International Cooperation has agreed to finance two separate power projects in Indonesia.
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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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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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ANZ has expanded its team and reach in export finance with key hires for both Singapore and London.
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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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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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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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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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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.