TXF Export Finance Virtual World Fair 2020
Roll up, roll up for TXF’s magnificent Export Finance Virtual World Fair 2020, take a ride across the world of global export finance from Asia, Mena, Europe to Africa, and the Americas
ECAs will be key to the UAE 2021 Vision infrastructure investment programme as commercial bank liquidity feels the pinch from low oil prices.
Debt structures for nuclear power plants could evolve beyond government-to-government funding.
The UN’s Green Climate Fund (GCF) has been urged by a letter from 92 NGOs to blacklist coal-funding ECAs from its funds. However, one market observer says ECAs should not be punished for their past endeavours, especially since adhering to the OECD’s new guidelines on only backing high-efficiency technologies.
In recent years, European ECAs and development institutions have been playing an increasing role in financing wind farm projects around the world. Their involvement is now key to maintaining commercial lenders attraction to the sector, says a renewable energy lawyer.
Despite the economic uncertainty in Angola, EDC has agreed a financing for the country which will contribute to the completion of one of the final steps to opening a new trade corridor in Western Africa.
The new renewables programme is highly structured, and has to erase lenders’ memory of Argentina’s past economic struggles.
Kexim last week provided a loan to finance the Prestea-Kumasi power enhancement project in Ghana as South Korea looks to compete with China and Japan for African infrastructure projects.
The energy sector represents a bold new frontier for export credit agencies (ECAs). Increased involvement in this sector makes good business sense.
The financing for Newcom and Softbank’s Tsetsii wind farm sees Japan take the lead in supporting Mongolia’s power sector.
The development of one of the world’s highest producing polyhalite mines in North Yorkshire, backed by commercial bank and Canada’s EDC financing could bring jobs and an export boost to the UK. However, the relatively new product will need to find a place in the market but could be boosted by Britain’s Brexit vote.
The UK government introduced dramatic cuts to renewable energy subsidies in August, just a month before Finland's ECA, Finnvera, closed a £100 million financing for the construction of the world's largest biomass power plant in the UK.
South Korea's ECA, Kexim, posted a net loss of $838.6 million for the first half of the year after bad debt provisions surged due to over exposure to struggling shipbuilders. However, one market source claims Kexim's losses are "not as bad as they seem".
Tom Nelthorpe discusses whether China, Russia and Mongolia can work with a small coal mine developer to make a greenfield rail project a reality.
At the end of last month, Finnvera and NIB signed a $225 million facility that will be onlent to a eucalyptus pulp mill project in Brazil. The deal represents the first time Finnvera has tapped an ‘alternative’ form of finance with NIB in order to leverage the credit risk of doing business in a country struggling to revive its economy.