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Italian ECA prepares new initiatives for investment in Morocco
Italian ECA prepares new initiatives for investment in Morocco
Dalia Gebrial
20 October 2014

The Italian export credit agency, SACE, has announced €200 million in new initiatives under study for Morocco.

Barclays hires new head of CAPEX financing solutions, Africa
Barclays hires new head of CAPEX financing solutions, Africa
Dalia Gebrial
20 October 2014

Barclays has appointed Mandy Symons as its new head of capital expenditure (CAPEX) financing solutions, Africa. She makes the move to Barclays after working at Nedbank since 2000.

United Bulgarian Bank joins IFC’s GTFP
United Bulgarian Bank joins IFC’s GTFP
Dalia Gebrial
20 October 2014

United Bulgarian Bank (UBB) has gained a $10 million credit line from the International Finance Corporation (IFC).

Ukraine’s Kernel gains EBRD financing through syndicated loan facility
Ukraine’s Kernel gains EBRD financing through syndicated loan facility
Dalia Gebrial
17 October 2014

Ukrainian agribusiness company Kernel Group (Kernel) has gained a $50 million loan from the European Bank for Reconstruction and Development (EBRD).

EBRD provides first syndicated loan for Albanian SMEs
EBRD provides first syndicated loan for Albanian SMEs
Dalia Gebrial
16 October 2014

The European Bank for Reconstruction and Development (EBRD) is providing a €6 million ($7.6 million), three-year syndicated loan to help develop micro, small and medium enterprises (SMEs) in Albania.

SCF solutions provider appoints new global programme manager
SCF solutions provider appoints new global programme manager
Dalia Gebrial
16 October 2014

Nicole Bjugger has been appointed as global programme manager for supply chain solutions provider PrimeRevenue.

HSBC bolsters senior global trade and receivables finance team
HSBC bolsters senior global trade and receivables finance team
Dalia Gebrial
16 October 2014

Andrew Betts will be joining HSBC’s senior global trade and receivables finance (GTRF) team as the regional head for the UK and continental Europe.

Santander appoints Schulpen as global head of trade and working capital
Santander appoints Schulpen as global head of trade and working capital
Dalia Gebrial
15 October 2014

Santander has appointed Rogier Schulpen as managing director and global head of trade and working capital solutions.

US Ex-Im to finance export of GE locomotives to Indonesia
US Ex-Im to finance export of GE locomotives to Indonesia
Dalia Gebrial
15 October 2014

The US export credit agency (ECA), the Export-Import Bank of US (US Ex-Im) has signed a $94.3 million direct loan to finance the export of 50 General Electric (GE) locomotives to Indonesian railway company, PT Kereta Api (PTKAI).

 Gunvor launches European RCF
Gunvor launches European RCF
Dalia Gebrial
13 October 2014

Gunvor Group (Gunvor) has launched the syndication of its European-centric $900 million revolving credit facility (RCF).

Commerzbank hires new director of export finance for Middle East
Commerzbank hires new director of export finance for Middle East
Dalia Gebrial
13 October 2014

Commerzbank has hired Eva Steinhaus as its new director of structured export and trade finance in corporate banking for the Middle East region. She will be working from the bank’s offices in Dubai.

Interview with Aldermore’s Andrew Dixon
Interview with Aldermore’s Andrew Dixon
Dalia Gebrial
10 October 2014

Aldermore Bank (Aldermore), having just launched a new trade finance product – the second product launched by their new specialist finance team – is looking to fill a gap in the market when it comes to financing for small and medium enterprises (SMEs).

UKEF announces first direct lending facility loan
UKEF announces first direct lending facility loan
Dalia Gebrial
7 October 2014

The UK’s export credit agency (ECA), UK Export Finance (UKEF), has announced the first deal to be supported by the £3 billion ($4.8 billion) Direct Lending Facility (DLF) programme.

EDC to part finance Merus Labs acquisition of Swiss health product
EDC to part finance Merus Labs acquisition of Swiss health product
Dalia Gebrial
7 October 2014

Canada’s export credit agency (ECA), Export Development Canada (EDC), is to provide C $12 million ($10.7 million) of direct financing to Toronto-based pharmaceutical company, Merus Labs, for a strategic acquisition.

RMB and agencies collaborate to finance landmark Ghanaian power plant
RMB and agencies collaborate to finance landmark Ghanaian power plant
Dalia Gebrial
6 October 2014

A number of European and African institutions have teamed together in a triple tranche, overall $900 million project financing to fund a gas fired power station in Tema, Ghana.

Belarusbank signs loan agreement with China Eximbank
Belarusbank signs loan agreement with China Eximbank
Dalia Gebrial
6 October 2014

Belarusbank has announced the official signing of a loan agreement with the Export-Import Bank of China (China Eximbank), China’s export credit agency (ECA).

New offices and senior appointments at Zurich credit and political risk
New offices and senior appointments at Zurich credit and political risk
Dalia Gebrial
3 October 2014

Zurich Insurance (Zurich), has expanded its credit and political risk business with several key appointments and two new offices, opened in Houston and Toronto.

KfW IPEX to finance Finnish onshore wind farm
KfW IPEX to finance Finnish onshore wind farm
Dalia Gebrial
3 October 2014

The German state-owned development bank, KfW IPEX-Bank, will provide a €100 million ($126 million) for the construction of the Kuolavaara-Keulakkopään Tuulipuisto Oy wind farm in Finland.

Kexim signs largest telecom financing to date with Reliance
Kexim signs largest telecom financing to date with Reliance
Dalia Gebrial
3 October 2014

India’s largest provider of telecom tower infrastructure, Reliance Jio Infocomm Limited (RJIL), will receive a $750 million loan backed by Korean export credit agency (ECA), Korea Eximbank (Kexim).

Bulgarian telco receives EBRD loan
Bulgarian telco receives EBRD loan
Dalia Gebrial
3 October 2014

The European Bank of Reconstruction and Development (EBRD) has signed a €20 million loan ($25 million) to Bulsatcom, a Bulgarian satellite television, internet and mobile operator.

BExA launches manifesto for exporters
BExA launches manifesto for exporters
Dalia Gebrial
2 October 2014

British Exporters Association (BExA) has announced the launch of its manifesto for exporters, entitled ‘Winning the Global Race’. The launch happens alongside its 5th annual benchmarking publication ‘UK Export Finance: Supporting the National Export Challenge’.

Annual ECA benchmarking report released
Annual ECA benchmarking report released
Dalia Gebrial
2 October 2014

The British Exporter’s Association (BExA) has just published its fifth annual benchmarking publication ‘UK Export Finance: Supporting the National Export Challenge’.

US Ex-Im authorises $1 billion Pemex capital markets financing
US Ex-Im authorises $1 billion Pemex capital markets financing
Dalia Gebrial
2 October 2014

The Export-Import Bank of the United States (US Ex-Im) has approved two authorisations, worth $1 billion, for Mexico’s state-owned oil and gas company,Petróleos Mexicanos (Pemex). The guaranteed bonds will be issued in the capital markets.

Transnet signs local currency deal with BHP Billiton
Transnet signs local currency deal with BHP Billiton
Dalia Gebrial
2 October 2014

Transnet has signed a 10-year contract for the export of coal via rail with the South African coal unit of the mining company, BHP Billiton (BHP).

Ukraine to be largest EBRD trade beneficiary by end of 2014
Ukraine to be largest EBRD trade beneficiary by end of 2014
Dalia Gebrial
1 October 2014

The European Bank for Reconstruction and Development (EBRD) has announced it will increase its efforts in Ukraine.

Misys and FicroSoft team up to aid compliance
Misys and FicroSoft team up to aid compliance
Dalia Gebrial
1 October 2014

Misys, the financial software provider, has teamed up with the global provider of watch list filtering solutions, FicroSoft to help banks comply with intensified trade finance regulations.

IFC local currency loan for Tajikistani bank
IFC local currency loan for Tajikistani bank
Dalia Gebrial
1 October 2014

The International Finance Corporation (IFC), a member of the World Bank Group, is providing a $10 million subordinated loan and $5 million senior loan denominated in Tajik somoni (TJS) to Eskhata Bank.

Barclays appoints new head of financial institutions, Asia-Pacific
Barclays appoints new head of financial institutions, Asia-Pacific
Dalia Gebrial
1 October 2014

Barclays Bank has appointed Louise Taylor as head of financial institutions group (FIG), corporate banking for the Asia-Pacific region.

UK’s Aldermore launches new trade finance product
UK’s Aldermore launches new trade finance product
Dalia Gebrial
1 October 2014

The UK-based Aldermore Bank has launched a new funding facility aimed at importers and wholesalers.

Lloyds Bank expands GTB team
Lloyds Bank expands GTB team
Dalia Gebrial
30 September 2014

Lloyds Bank has made three new additions to its global transaction banking (GTB) team. The three appointments are Keith Softly, Stephen Everett and Francesca Corscadden, who will all be based in London.

PTA Bank establishes export credit guarantee programme
PTA Bank establishes export credit guarantee programme
Dalia Gebrial
30 September 2014

Eastern and Southern African Trade and Development Bank (PTA Bank), today announced that it signed a Memorandum of Understanding (MoU) with Deutsche Bank to establish an export credit guarantee programme.

CMB to adopt Deutsche Bank’s Asia Accelerator solution
CMB to adopt Deutsche Bank’s Asia Accelerator solution
Dalia Gebrial
30 September 2014

China Merchants Bank (CMB) today announced the signing of a Memorandum of Understanding (MoU) with Deutsche Bank, signaling its intention to use the German headquartered bank’s Asia Accelerator solution when processing US dollar and euro intra-Asia payments.

Deutsche Bank announces new transparency and payments initiatives
Deutsche Bank announces new transparency and payments initiatives
Dalia Gebrial
29 September 2014

Deutsche Bank announced new milestones for its payments product offering for financial institutions (FIs).

NIB appoints new CFO
NIB appoints new CFO
Dalia Gebrial
29 September 2014

Nordic Investment Bank (NIB) has appointed Björn Ordell as its new chief financial officer, vice president and head of risk and finance.

Misys launches integrated corporate banking platform
Misys launches integrated corporate banking platform
Dalia Gebrial
29 September 2014

Misys, the financial software provider, has just launched Misys FusionBanking Corporate FrontOffice, a unified corporate client front end, which is integrated with enterprise pricing and credit lifecycle management.

EDC and K-sure sign reciprocal reinsurance agreement
EDC and K-sure sign reciprocal reinsurance agreement
Dalia Gebrial
26 September 2014

The export credit agencies (ECA), Export Development Canada (EDC) and Korea Trade Insurance Corporation (K-sure), have agreed to collaborate on transactions involving Canadian and South Korean companies. The move comes shortly after Canada and South Korea signed a landmark free trade deal, considerably increasing trade ties between the two countries.

SWIFT report shows rapid growth in RMB transactions
SWIFT report shows rapid growth in RMB transactions
Dalia Gebrial
26 September 2014

SWIFT’s RMB Tracker, which provides a monthly report on the international use of the renminbi (RMB), has found that global RMB payments have nearly tripled in value over the past two years, with one third of financial institutions now actively using RMB for payments to China and Hong Kong. This signals a 35% growth in the number of institutions doing so.

EBRD annual TFP forum focuses on overcoming regional challenges
EBRD annual TFP forum focuses on overcoming regional challenges
Dalia Gebrial
24 September 2014

The European Bank for Reconstruction and Development (EBRD) held its annual trade facilitation programme (TFP) trade finance forum in London on the 22nd and 23rd of September. The conference included a range of panels and presentations, on topics varying from local currency and capital markets development, to factoring in EBRD countries of operations.

ADB approves  loans for Punjab region irrigation project
ADB approves loans for Punjab region irrigation project
Dalia Gebrial
23 September 2014

The Asian Development Bank (ADB) has approved $150 million worth of project loans to upgrade two key barrages in Trimmu and Panjnad, located in the Punjab region of Pakistan.

Finnvera to finance cruise ships for German company
Finnvera to finance cruise ships for German company
Dalia Gebrial
23 September 2014

Finnvera, the Finnish export credit agency, has agreed to guarantee between 50 and 80 percent of pre-delivery finance for cruise ships ordered by TUI Cruises GmbH, the Germany-based joint venture cruise line.

JB's weekly round up - 23 September 2014
JB's weekly round up - 23 September 2014
Jonathan Bell
23 September 2014

On November 26th we will be hosting our first ECA-DFI Finance conference in Asia, at the “Sky100" - up on the hundredth floor of the ICC building in Kowloon.

OPIC set to support new investment fund in Africa
OPIC set to support new investment fund in Africa
Dalia Gebrial
22 September 2014

The US government’s development finance institution, Overseas Private Investment Corporation (OPIC), has approved support to a $100 million investment fund, geared towards promoting economic growth in Africa.

IFC provides loan and advisory support for Myanmar bank
IFC provides loan and advisory support for Myanmar bank
Dalia Gebrial
18 September 2014

The International Finance Corporation (IFC) is to support the Myanmar commercial bank, Yoma Bank, with a $5 million convertible loan and advisory services.

Turkey’s İşbank secures loan from international bank syndicate
Turkey’s İşbank secures loan from international bank syndicate
Dalia Gebrial
18 September 2014

İşbank, Turkey’s largest private bank, has secured a $1.3 billion loan from 41 banks across 18 countries. The loan has a one-year maturity period, and a one year extension option.

New report forecasts most promising regions for trade
New report forecasts most promising regions for trade
Dalia Gebrial
17 September 2014

TXF asesses HSBC’s most recent global trade report, which focuses on the changing role played by emerging market economies in the landscape of the global economy.

RBS appoints new head of GTS Asia-Pacific
RBS appoints new head of GTS Asia-Pacific
Dalia Gebrial
16 September 2014

The Royal Bank of Scotland (RBS) has appointed Rohit Sawhney as head of global transaction services (GTS), Asia-Pacific.

Banksville appointment bolsters Latin American presence
Banksville appointment bolsters Latin American presence
Dalia Gebrial
15 September 2014

New York-based consultancy firm, Banksville Partners (BP), has appointed Hugo Pezzoni to its Buenos Aires office.

New wave of sanctions hits Russia’s banks and energy companies
New wave of sanctions hits Russia’s banks and energy companies
Dalia Gebrial
12 September 2014

A new wave of coordinated sanctions, announced by the EU and the US today will target the biggest players in Russia’s vital energy and banking sectors. These latest changes constitute a considerable broadening of previously implemented sanctions, which only banned the export of high technology oil equipment into Russia.

EssDOCS opens Americas HQ, and appoints office head
EssDOCS opens Americas HQ, and appoints office head
Dalia Gebrial
12 September 2014

EssDOCS, the provider of electronic documentation solutions within shipping and trade, has opened its first regional Americas headquarters office in Hoboken, New Jersey.

Canadian ECA to finance Hispasat satellite
Canadian ECA to finance Hispasat satellite
Dalia Gebrial
12 September 2014

Export Development Canada (EDC), the Canadian export credit agency (ECA), has announced a €123 million ($159 million) loan to Spanish satellite communications operator Hispasat for the construction of a satellite by Canada’s MacDonald Dettwiler and Associates (MDA).