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Battle lines drawn as US Ex-Im reauthorisation looms
Battle lines drawn as US Ex-Im reauthorisation looms
Hesham Zakai
21 August 2014

It is no exaggeration to state that the Export-Import Bank of the United States (Ex-Im) is in the midst of its most difficult reauthorisation battle yet. Indeed, so heavily has opposition to the bank’s activities grown amongst conservative lawmakers in the US, that it would be reasonable to state that the current battle is a genuinely existential one.

JBIC leads Asian banks in Lao hydropower deal
JBIC leads Asian banks in Lao hydropower deal
Paul Preugschat
21 August 2014

The Japan Bank for International Cooperation (JBIC) has signed a project finance loan agreement in support of a total $643 million financing for a 290MW hydropower plant project in Lao People’s Democratic Republic (Lao DPR).

IFC launches financing programme for Indian infra-fund
IFC launches financing programme for Indian infra-fund
Jonathan Bell
20 August 2014

The IFC has launched a $2.5 billion financing programme designed to strengthen India’s capital markets and set up an infrastructure development fund for the country.

Finnvera reiterates commitment to Russia
Finnvera reiterates commitment to Russia
Jonathan Bell
19 August 2014

The Finnish export credit agency Finnvera has reiterated its support for Finnish exporters to Russia. The statement comes even in the height of the troubled geopolitical situation regarding Ukraine and Russia, but with the Russian market such an extremely important export destination for many Finnish companies the announcement is seen as necessary at this crucial time.

EDC provides Mexico’s Cinépolis with $11million loan
EDC provides Mexico’s Cinépolis with $11million loan
Dalia Gebrial
15 August 2014

Export Development Canada (EDC), the Canadian export credit agency (ECA), is providing $11million worth financing for Mexican theatre operator Cinépolis Group. The move comes as part of a wider attempt by the group to take advantage of the growing Latin American movie market, which has seen an 80% increase in box office revenues between 2009-2013.

JBIC and banks team for UK offshore wind project financing
JBIC and banks team for UK offshore wind project financing
Jonathan Bell
13 August 2014

The Japan Bank for International Cooperation (JBIC), together with commercial banks has signed project finance debt amounting to £369.5 million ($616.5 million) for an offshore wind generation project in the UK.

EIB agrees loans for renewable energy projects in South Africa
EIB agrees loans for renewable energy projects in South Africa
Dalia Gebrial
13 August 2014

The European Investment Bank (EIB) has secured deals with the South African state-owned energy provider Eskom and the Development Bank of South Africa (DBSA) to build two 100MW Concentrating Solar Power (CSP) plants in the Northern Cape. The deals are part of the EIB’s long-standing initiative to support renewable energy investment.

MIGA insures Elif packaging plant in Egypt
MIGA insures Elif packaging plant in Egypt
Jonathan Bell
12 August 2014

The Multilateral Investment Guarantee Agency (MIGA) has agreed to collaborate with the Turkish company Elif Global for the international expansion of its packaging business in Egypt. As part of this pact, MIGA is insuring Elif’s investments to build a new packaging plant near Cairo that will create hundreds of jobs and have an important demonstration effect for investment.

KfW IPEX finances equipment for Brazil wood processing sector
KfW IPEX finances equipment for Brazil wood processing sector
Jonathan Bell
11 August 2014

KfW IPEX-Bank is providing export credit financing amounting to €51 million ($68.3 million) to Brazilian-based Berneck Painéis e Serrados (Berneck).

Financing for Cameron LNG in the US finalised
Financing for Cameron LNG in the US finalised
Jonathan Bell
8 August 2014

Sempra Energy, which is the lead partner in the Cameron LNG project in Louisiana, in the United States, has finalised the financing for the project.

NIB partners with Litgrid to finance Lithuania-Poland electricity link
NIB partners with Litgrid to finance Lithuania-Poland electricity link
Hesham Zakai
7 August 2014

The Nordic Investment Bank (NIB) has agreed a €50 million ($67 million) loan for the Lithuanian electricity transmission system operator Litgrid. The funds, which have a 10-year maturity, will be used to construct an electricity transmission line between Lithuania and Poland.

US Ex-Im pledges further financing in sub-Saharan Africa
US Ex-Im pledges further financing in sub-Saharan Africa
Paul Preugschat
7 August 2014

The Export-Import Bank of the United States (US Ex-Im) has pledged $3 billion in financing for US exports to sub-Saharan Africa over the next two years.

Afrexim finances Econet expansion
Afrexim finances Econet expansion
Hesham Zakai
6 August 2014

The African Export-Import Bank (Afrexim) has arranged a $150 million financing facility for Mauritius-based telecommunications company Econet Wireless Global (Econet). The funds will be used to drive the company’s expansion programme.

KfW IPEX finances port equipment for OOCL
KfW IPEX finances port equipment for OOCL
Jonathan Bell
5 August 2014

KfW IPEX-Bank has signed an $81 million loan agreement with Hong Kong-headquartered port operator Orient Overseas Container Line (OOCL), to support the sale of German-made port loading equipment.

OPIC commits funds to Nigeria’s Azura-Edo power plant project
OPIC commits funds to Nigeria’s Azura-Edo power plant project
Jonathan Bell
5 August 2014

Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, has approved up to $50 million in direct financing to American Capital Energy & Infrastructure (ACEI) to support construction and operation of the Azura-Edo power plant project near Benin City in Edo State, Nigeria.

ADB teams with ORIX and Robeco for Asia renewables
ADB teams with ORIX and Robeco for Asia renewables
Jonathan Bell
4 August 2014

The Asian Development Bank (ADB) has teamed with ORIX Corporation (ORIX) of Japan and Netherlands-based Robeco Institutional Asset Management (Robeco) to set up Asia Climate Partners (ACP), a joint venture that will undertake commercially-oriented private equity investments across a variety of environmentally supportive, low-carbon transactions throughout Asia.

Uruguay’s Jacinta solar project secures IADB funds
Uruguay’s Jacinta solar project secures IADB funds
Jonathan Bell
1 August 2014

The Inter-American Development Bank (IADB) has signed a $40.9 million loan from its ordinary capital and $25 million from the Canada Climate Fund, which is administered by the bank, to help finance the construction, operation and maintenance of Uruguay’s La Jacinta Solar Energy Project.

EBRD and Unibank fund Azeri oil service company
EBRD and Unibank fund Azeri oil service company
Jonathan Bell
1 August 2014

The European Bank for Reconstruction and Development (EBRD) and Azerbaijan’s Unibank have jointly signed a $10 million loan to Dalgidj, a private Azeri oil-service company, for the expansion of the company’s activities.

EBRD finances Mongolian Senj Sant cement plant
EBRD finances Mongolian Senj Sant cement plant
Jonathan Bell
31 July 2014

The European Bank for Reconstruction and Development (EBRD) has signed a $65 million loan agreement with Mongolian company Senj Sant, to help set up a cement plant within the country.

IFC to invest in Pakistan LNG terminal
IFC to invest in Pakistan LNG terminal
Jonathan Bell
30 July 2014

The International Finance Corporation (IFC), the private sector financing arm of the World Bank group, is set to invest $27.5 million in the construction of a terminal to import liquefied natural gas (LNG) at the industrial zone of Port Qasim, Karachi in Pakistan.

Canada’s Kitsault mine steps forward as Avanti mandates banks
Canada’s Kitsault mine steps forward as Avanti mandates banks
Jonathan Bell
29 July 2014

Canadian mining company Avanti Mining has mandated a syndicate of financial institutions to to provide secured debt finance facilities for $612 million to develop the Kitsault molybdenum mine at Prince Rupert in northern British Columbia.

JBIC signs loan with Mexico’s Bancomext
JBIC signs loan with Mexico’s Bancomext
Jonathan Bell
28 July 2014

The Japan Bank for International Cooperation (JBIC) has signed a series of agreements with Mexican institutions that should see the further development of business in Mexico for Japanese companies.

Siemens signs financing for Westermeerwind
Siemens signs financing for Westermeerwind
Jonathan Bell
25 July 2014

Principal contractor Siemens has signed the financing agreements with a group of banks for the development of the Wind Farm Westermeerwind in Noordoostpolder in the Netherlands. The total debt funding is approximately €320 million ($430 million). The signing took place on 24 July.

ANZ and China Exim team to advise on major LNG ship financing
ANZ and China Exim team to advise on major LNG ship financing
Jonathan Bell
25 July 2014

Australia and New Zealand Banking Group (ANZ) and The Export-Import Bank of China (China Exim) have teamed to act as joint financial advisors on a major Chinese LNG ship financing amounting to $787 million.

EBRD signs loans for its largest project in Tajikistan
EBRD signs loans for its largest project in Tajikistan
Jonathan Bell
25 July 2014

The European Bank for Reconstruction and Development (EBRD) has approved its largest loan to date in Tajikistan with the signing of a $50 million loan to fund the first phase of the modernisation of the Qairokkum hydropower plant.

Video: Interview with Karin Apelman, CEO of EKN
Video: Interview with Karin Apelman, CEO of EKN
Karin Apelman
24 July 2014

Karin Apelman, CEO of Swedish export credit agency EKN, talks to TXF on the trends she currently sees in the market

Video: Establishing partnerships with banks, exporters, private insurers and investors
Video: Establishing partnerships with banks, exporters, private insurers and investors
Karin Apelman
24 July 2014

Karin Apelman, CEO of EKN, on the greater level of collaboration and partnerships currently being seen in export finance

IFC provides loan to Kenya’s National Cement
IFC provides loan to Kenya’s National Cement
Jonathan Bell
23 July 2014

IFC is providing up to $70 million to Kenya’s National Cement Company to expand the company’s operations, increase the local supply of cement and promote infrastructure development in Africa.

ANZ beefs up its European export finance team
ANZ beefs up its European export finance team
Jonathan Bell
23 July 2014

ANZ has strengthened its European export finance team with the promotion of Craig Jones as director, project & export finance, Europe & America, international and institutional banking. He is based in London.

Sace guarantees BNPP loan for Angolan motorway
Sace guarantees BNPP loan for Angolan motorway
Jonathan Bell
22 July 2014

The Italian export credit agency Sace has guaranteed a €164 million ($220.8 million) loan in favour of the Angolan Ministry of Finance which finances the last section of the Luanda-Soyo motorway (N’zeto-Soyo).

EXIAR insures Promsvyazbank's export financing to Belarus
EXIAR insures Promsvyazbank's export financing to Belarus
Jonathan Bell
21 July 2014

Russia’s export credit agency, the Russian Agency for Export Credit and Investment Insurance (EXIAR), and Promsvyazbank have signed a confirmed letter of credit insurance contract for payment of shipments of Russian-produced carbon black to the Republic of Belarus.

Sri Lanka and Uzbekistan benefit from ADB energy loans
Sri Lanka and Uzbekistan benefit from ADB energy loans
Hesham Zakai
21 July 2014

Sri Lanka and Uzbekistan have each received a $300 million loan from the Asian Development Bank (ADB) dedicated to energy projects.

NBAD looks to energy sector expansion with new appointment
NBAD looks to energy sector expansion with new appointment
Jonathan Bell
21 July 2014

The National Bank of Abu Dhabi (NBAD) is looking to expand its operations in the energy and resources sector, and has appointed Marc Mollema as the managing director and global head of energy and resources at NBAD. aims to expand its services to the sector.

EBRD arranges A/B loan for Turkey’s Ford Otosan
EBRD arranges A/B loan for Turkey’s Ford Otosan
Jonathan Bell
21 July 2014

The European Bank for Reconstruction and Development (EBRD) is providing a €140 million ($188.6 million) loan to leading Turkish commercial vehicle maker Ford Otomotiv Sanayi (Ford Otosan), to finance a far-reaching investment programme to develop high-tech truck engine parts and expand production capacity.

KfW IPEX finances new cruise ships for NCL
KfW IPEX finances new cruise ships for NCL
Jonathan Bell
16 July 2014

KfW IPEX-Bank has structured financing amounting to approximately €1.6 billion ($2.16 billion) for the construction of two new cruise ships for Miami-based Norwegian Cruise Line (NCL).

Lithuanian Railways secures funds through NIB
Lithuanian Railways secures funds through NIB
Jonathan Bell
15 July 2014

The Nordic Investment Bank (NIB) and the Lithuanian railway company AB Lietuvos gelezinkeliai have signed a new 18-year, €53 million ($71.6 million) loan agreement for the construction of a European-gauge track and the modernisation of the Trans European east-west corridors in Lithuania.

Philippines San Gabriel power plant gets Hermes-backed financing
Philippines San Gabriel power plant gets Hermes-backed financing
Jonathan Bell
11 July 2014

What is being branded as ‘the most efficient power plant in South-East Asia’ is to receive financing through a combination of loans from KfW IPEX-Bank and support from the German export credit agency Euler Hermes.

Afrexim and banks sign bridge facility for Abidjan port project
Afrexim and banks sign bridge facility for Abidjan port project
Jonathan Bell
11 July 2014

The African Export-Import Bank (Afreximbank), together with a syndicate of commercial banks, has arranged a €200 million ($271.9 million) syndicated bridge financing facility for Cote d’Ivoire’s state-owned Port Autonome d’Abidjan (PAA) to enable the company to expand facilities at the port of Abidjan.

Uruguayan wind farm gets direct US Ex-Im financing
Uruguayan wind farm gets direct US Ex-Im financing
Jonathan Bell
10 July 2014

The Export-Import Bank of the United States (US Ex-Im) is providing a $64.5 million direct loan to Astidey, in Montevideo, Uruguay, for the purchase of US-manufactured wind-turbine generators being exported by Gamesa Technology Corporation, headquartered in Feasterville-Trevose, Pennsylvania.

KfW IPEX arranges major export finance for Siemag equipment to US
KfW IPEX arranges major export finance for Siemag equipment to US
Jonathan Bell
9 July 2014

KfW IPEX-Bank has signed a $794 million loan with ~Big River Steel^, a company based in Arkansas, US, for the development of a new sheet ste

KfW IPEX-Bank finances UK’s Crook Hill wind project
KfW IPEX-Bank finances UK’s Crook Hill wind project
Jonathan Bell
7 July 2014

KfW IPEX-Bank is providing a loan of £56.5 million ($96.8 million) for the Crook Hill Wind Farm project, north of Rochdale in east Lancashire, UK. The bank is acting as sole mandated lead arranger.

Saudi’s Maaden signs phosphate mine financing
Saudi’s Maaden signs phosphate mine financing
Jonathan Bell
2 July 2014

Ma’aden Wa’ad Al-Shamal Phosphate Company (MWSPC), an affiliate of the Saudi Arabian Mining Company (Maaden) has signed loan facilities for a total of SR18.9 billion ($5 billion) to develop MWSPC’s phosphate project which is being constructed at sites in Wa’ad Al Shamal and the existing Ras Al-Khair Industrial City.

KfW IPEX arranges financing for Quebec wind farms
KfW IPEX arranges financing for Quebec wind farms
Jonathan Bell
1 July 2014

KfW IPEX-Bank has arranged a total of C$206.8 million ($194.5 million) through two loan packages to finance the Témiscouata I and Témiscouata II wind farms in Québec, Canada. The borrowers are Boralex Incorporated (Boralex) and Témiscouata Regional County Municipality (RCM).

Saudi’s Mobily signs vendor financing deal with EDC
Saudi’s Mobily signs vendor financing deal with EDC
Jonathan Bell
30 June 2014

Saudi Arabian telecommunications company Mobily has signed a $200 million (SR750 million) long-term vendor financing agreement with Canada’s export credit agency Export Development Canada (EDC). The agreement carries no corporate guarantee.

MIGA insures loan for Kenyan power station
MIGA insures loan for Kenyan power station
Jonathan Bell
30 June 2014

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, is to provide insurance for a loan to independent power producer (IPP) Gulf Power Limited, as part of the institutions support for improvement in Kenya’s power sector

Case study: Financing Santo Domingo’s Metro
Case study: Financing Santo Domingo’s Metro
Silke Kleemann
27 June 2014

As the most extensive urban metro system in the Caribbean and only the second in existence, Santo Domingo’s Metro is an ambitious programme to modernise transport infrastructure in the Dominican Republic’s capital city.

Finnvera gets expanded scope to support export financing
Finnvera gets expanded scope to support export financing
Jonathan Bell
27 June 2014

Finnish export credit agency (ECA), Finnvera, has announced that in future it will have better possibilities to participate in the export-related financing arrangements of Finnish companies.

Ex-Im: US facing ‘unprecedented levels of competition’
Ex-Im: US facing ‘unprecedented levels of competition’
Hesham Zakai
26 June 2014

An aggressive ramping up of export credit activity by major ECAs and the increasing participation by non-OECD members in the financing space traditionally occupied by the Export-Import Bank of the United States (US Ex-Im) is threatening the country’s competitiveness on the world stage, according to a report by US Ex-Im.

Mitsubishi gets JBIC loan for Peruvian copper purchase
Mitsubishi gets JBIC loan for Peruvian copper purchase
Jonathan Bell
25 June 2014

Japan’s largest trading company, Mitsubishi Corporation, has secured a $390 million direct loan from the Japan Bank for International Cooperation (JBIC) to partially finance the company’s acquisition of shares in a Peruvian copper mine project.

Mizuho and JBIC combine for Indonesian hydro project
Mizuho and JBIC combine for Indonesian hydro project
Jonathan Bell
25 June 2014

Mizuho Bank and the Japan Bank for International Cooperation (JBIC) have combined to provide financing for the Rajamandala Hydro Power Plant Project in Indonesia.