Sam Fowler-Holmes, senior associate at Sullivan presents the challenges across the trade and commodity finance space, with potential headwinds in 2020 including sanctions, new regulations, Libor/Sofor, fintechs and of course - Brexit.

The Taiwanese offshore wind market is on course to emulate another bumper year of ECA-backed project finance prowess in 2020. But not all is as it seems on this nascent sector’s glimmering surface, with state-owned bank liquidity yet to emerge.

The commodity trade finance funding mix is evolving. Growing regulation, the rise of alternative funds and all things ESG have contributed to the decline in deal volume in 2019. But are traders being transparent enough about their deals? And will bank-fund hybrid loans form a happy marriage?

It may have been a so-so year for many ECAs, but not Euler Hermes. CEO Edna Schoene was in a buoyant mood when she spoke to TXF. Financing ships has boosted business, claims have been benign and short term business has been stable, but the need to change the OECD Consensus radically is still top of mind,

The Polish offshore wind market is gathering pace. Although questions around local content requirements, local liquidity and local currency-denominated PPAs need to be answered before this nascent market can be considered project finance-friendly.