Banks lament as 'all-time low' CIRR spurs ECA direct lending

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Europe

Max Thompson

Managing Editor

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Although the total volume of the ECA finance market has reduced in recent years, in the first half of this year ECA direct lending was already $1.7 billion up on the whole of 2015. According to one market source, the falling CIRR– the price at which ECAs provide financing– is making commercial bank funding uncompetitive.