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AFC obtains credit line through Proparco and EFP
AFC obtains credit line through Proparco and EFP
Jonathan Bell
9 September 2013

The Africa Finance Corporation (AFC) has secured a €50 million ($65.8 million) credit line provided by the French development agency Proparco together with European Financing Partners (EFP*). The Proparco-led line of credit has a tenor of 10-years and is a dual currency facility of euros and US dollars. The EFP tranche (€25 million) will be drawn in US dollars and will be utilised to fund Nigeria and Anglophon

HSBC conducts RMB cross-border first
HSBC conducts RMB cross-border first
Dan Sheriff
6 September 2013

HSBC has become the first foreign bank in mainland China to successfully complete a two-way cross-border RMB lending transaction under a new pilot programme in Kunshan. The transaction was completed for Kunshan President Enterprises Food Company (Kunshan President), a subsidiary of Uni-President Group.

Kah Chye Tan departs from Barclays
Kah Chye Tan departs from Barclays
Mayur Pande
6 September 2013

After two years at the bank, Kah Chye Tan has departed Barclays in London where he was vice-chair of the bank’s global trade team. As a highly experienced and respected trade banker, Tan’s arrival at Barclays in 2011 was seen as a coup for the ban

UKEF launches direct lending scheme
UKEF launches direct lending scheme
Jonathan Bell
5 September 2013

UK Export Finance (UKEF), the export credit agency of the UK, has officially announced the launch of its direct lending scheme. The new lending scheme will help overseas buyers purchase the goods of UK exporters. Specifically, it will support exports where buyers need loans of up to £50 million ($78 million)

VTB Bank begins transactions in renminbi
VTB Bank begins transactions in renminbi
Dan Sheriff
5 September 2013

VTB Bank’s Shanghai branch, the only Russian bank with a Chinese financial operation licence, has begun conducting transactions in renminbi (RMB) for corporate clients who are Chinese residents. The bank has successfully completed its extensive preparations which included additional capitalisation and the obtaining of a new licence

BofAML expands GTS team in London
BofAML expands GTS team in London
Jonathan Bell
4 September 2013

Bank of America Merrill Lynch (BofAML) has made several appointments expanding its Europe, Middle East and Africa (EMEA) sales team within global transaction banking (GTS) in London.

StanChart sets up treasury solutions team
StanChart sets up treasury solutions team
Dan Sheriff
4 September 2013

Standard Chartered (StanChart) has set up a global treasury solutions team for its transaction banking business. The team is responsible for providing best practice treasury advice and delivering sophisticated global and regional cash management solutions tailored to clients’ needs.

Deutsche opens branch in Qingdao, China
Deutsche opens branch in Qingdao, China
Jonathan Bell
4 September 2013

Deutsche Bank has opened a new branch in Qingdao, China following the approval from the China Banking Regulatory Commission (CBRC). The Qingdao branch is the bank’s sixth branch in China, complementing others in Beijing, Shanghai, Guangzhou, Tianjin and Chongqing.

Boost for VEB Leasing with VTB credit lines
Boost for VEB Leasing with VTB credit lines
Mayur Pande
4 September 2013

Russia’s VEB Leasing has received a boost to its operations with the signing of a RUB30 billion ($897 million) credit line provided by VTB Bank. The facility has an overall tenor of 10-years. Under the umbrella arrangement, VEB Leasing has received the first loan instalment of RUB5.78 billion. This loan has a tenor of five years.

Mongolia’s Khan Bank gets EBRD backing
Mongolia’s Khan Bank gets EBRD backing
Dan Sheriff
4 September 2013

One of the largest commercial banks in Mongolia, Khan Bank has teamed with the European Bank for Reconstruction and Development (EBRD) to develop an innovative financial instrument for the Mongolian market under the rubric ‘value chain finance’, to improve access to finance for small businesses and to help strengthen value chains in the country.

Albania’s Union Bank expands trade finance offering
Albania’s Union Bank expands trade finance offering
Jonathan Bell
3 September 2013

Albania’s Union Bank Albania has been able to expand its trade finance offering following an injection of funds from the IFC. The funds will specifically be used to increase financing to small and medium-sized enterprises (SMEs) that work in imports and exports.

IFC loan backs Olam’s Nigerian and Indian projects
IFC loan backs Olam’s Nigerian and Indian projects
Jonathan Bell
28 August 2013

International Finance Corporation (IFC) and Olam International, a Singapore-headquartered global integrated supply chain manager and processor of agricultural products, have signed a five-year $120 million loan agreement to finance upgrades and expansion of five food processing facilities in Nigeria and India.

Albania’s Credins Bank gets trade loan
Albania’s Credins Bank gets trade loan
Jonathan Bell
28 August 2013

The European bank for Reconstruction and Development (EBRD) is providing Albania’s Credins Bank with €10 million ($13.3 million) in loans for on-lending to local small and medium-sized enterprises and supporting trade finance solutions for clients of the bank.

Bank of China and RBS in landmark Bolero deal
Bank of China and RBS in landmark Bolero deal
Mayur Pande
23 August 2013

Bank of China (BOC) and The Royal Bank of Scotland (RBS) have successfully completing their first ever electronic presentation of documents via the Bolero electronic trade platform. Bank of China is the first of the ‘big four’

AccessBank and ADB sign loan facility
AccessBank and ADB sign loan facility
Mayur Pande
21 August 2013

The Asian Development Bank (ADB) has signed to provide a $50 million five-year senior loan to Azerbaijan’s AccessBank. The loan comes on the heels of a $60 million loan provided by European DFIs in mid-June (see TXF News 21 June 2013).

Deutsche pushes paperless trade payments with China
Deutsche pushes paperless trade payments with China
Dan Sheriff
21 August 2013

Deutsche Bank is increasing automation in its trade payments processes with China. As of 1 September 2013, the bank will launch paperless cross-border payment services in China via its electronic banking platform − db-direct internet.

Tanzania’s NMB signs loan with European DFIs
Tanzania’s NMB signs loan with European DFIs
Dan Sheriff
21 August 2013

Tanzania’s National Microfinance Bank (NMB) has signed a $65 million loan agreement in a transaction led by the Netherlands Development Finance Company (FMO) in cooperation with the German Development Finance Company (DEG) and EFP (European Financing Partners (EFP); a group of 14 other European development finance institutions (DFIs).

Lloyds Bank appoints director of global trade
Lloyds Bank appoints director of global trade
Dan Sheriff
21 August 2013

Lloyds Bank Commercial Banking has appointed Jacqueline Keogh as director of global trade to lead the bank’s global trade proposition. She takes up the position on 2 September Keogh joins Lloyds Bank from Standard Chartered where she held the position of managing director, regional head of banks, Europe in the transaction banking division, delivering strong

Insurer Equinox Global expands team
Insurer Equinox Global expands team
Dan Sheriff
19 August 2013

Insurer Equinox Global, has made two hires expanding the trade credit team in the US and in Germany. The Lloyd′s cover holder specialising in trade credit insurance, has appointed Joe McNamara as vice president – credit and political risk, at Equinox Global Inc in New York and Dagmar Böhning as underwriting manager, at Equinox Global in Hamburg, Germany.

StanChart sets-up renminbi solutions team
StanChart sets-up renminbi solutions team
Dan Sheriff
15 August 2013

Standard Chartered (StanChart) has set-up a renminbi (RMB Solutions) team that is responsible for delivering bespoke client solutions to help them best capture opportunities arising from the internationalisation of the RMB.

New executive director named for International Trade Centre
New executive director named for International Trade Centre
Jonathan Bell
15 August 2013

The United Nations has announced the appointment of Arancha Gonzalez of Spain as executive director of the International Trade Centre (ITC), the joint agency of the United Nations Conference on Trade and Development (UNCTAD) and World Trade Organisation (WTO) for trade and international business development.

KSA’s Mobily raises export finance for network expansion
KSA’s Mobily raises export finance for network expansion
Mayur Pande
8 August 2013

The Kingdom of Saudi Arabia (KSA) mobile telecommunications operator Mobily has secured $650 million in export credit financing to meet the cost of its network and internet expansion through to 2015. Mobily has signed two agreements each for up to $325 million with Finland’s export credit agency (ECA) Finnvera, and the Swedish Export Credits Guarantee Board – EKN

Nedbank and Bank of China formalise alliance
Nedbank and Bank of China formalise alliance
Dan Sheriff
6 August 2013

South Africa’s Nedbank and the Bank of China (BoC) have entered into a strategic business cooperation agreement to develop business flows between the People’s Republic of China and Africa.

Deutsche launches financial supply chain manager app
Deutsche launches financial supply chain manager app
Mayur Pande
5 August 2013

As part of its supply chain finance offering to corporates, Deutsche Bank has announced the launch of the financial supply chain manager on its Autobahn app market.

IUA launches political risks group
IUA launches political risks group
Jonathan Bell
5 August 2013

The International Underwriting Association (IUA) has launched a new London market political risk committee. The group is made up of underwriting and claims representatives from across the association’s member companies and will meet regularly to discuss issues affecting political risk business.

DEG support for Turkish SMEs
DEG support for Turkish SMEs
Dan Sheriff
2 August 2013

The German development bank - Deutsche Investitions- und Entwicklungsgesellschaft (DEG) has subscribed for bonds to the amount of TRY90 million ($39.7 million), issued by Turkey’s DenizBank, one of Turkey’s leading commercial banks. DenizBank will employ the funds for the long-term refinancing of loans to small and medium-sized enterprises in the agricultural sector, one of its key customer groups. This is the first time DEG has used such a financing mechanism to support SME’s in Turkey.

DeRooij returns to ABN AMRO in Asia
DeRooij returns to ABN AMRO in Asia
Dan Sheriff
29 July 2013

In a senior move in the upper echelons of the bank, ABN AMRO has hired Maureen DeRooij as the new country executive in Hong Kong and CEO of large corporates and merchant banking in Asia. Her appointment is effective from 1 September.

Gunvor and GE Capital sign factoring deal
Gunvor and GE Capital sign factoring deal
Dan Sheriff
29 July 2013

Energy commodity trading company Gunvor has signed a €225 million ($298.4 million) factoring programme with GE Capital for Gunvor’s receivables portfolio. The programme will finance part of Gunvor’s German oil refining business.

CBA appoints global head of trade
CBA appoints global head of trade
Dan Sheriff
26 July 2013

Commonwealth Bank of Australia (CBA) has appointed Neal Livingston as its global head of trade and transaction services (GTTS), within the institutional banking and markets unit.

Citi and AfDB sign risk agreement for African trade
Citi and AfDB sign risk agreement for African trade
Dan Sheriff
25 July 2013

The African Development Bank (AfDB) has signed a $50-million Risk Participation Agreement (RPA) with Citi to support trade transactions originated by issuing banks in Africa. The facility will help address critical market demand for trade finance in Africa by providing support for trade in vital economic sectors such as agribusiness and manufacturing. In addition, it will foster financial sector development and regional integration, and contribute to government revenue generation.

HSBC appoints forfaiting global head
HSBC appoints forfaiting global head
Katy Rose
19 July 2013

HSBC has appointed Luiz Simione as global head of forfaiting and risk distribution for global trade and receivables finance (GTRF). He will be based in London and takes up the post from 1 September 2013.

Concern to revive credit growth in emerging Europe
Concern to revive credit growth in emerging Europe
Dan Sheriff
18 July 2013

As external funding withdrawal in emerging Europe generates increasing concern, agencies and banks have met to discuss the issues and trends. The Vienna 2 Initiative Steering Committee* met in Luxembourg on 17 July 2013 to discuss deleveraging trends, work to address asset quality issues in emerging Europe, and the implications for the proposed EU resolution framework on emerging European economies, including non-EU member countries.

Hochberg confirmed as US Ex-Im president
Hochberg confirmed as US Ex-Im president
Mayur Pande
17 July 2013

Fred Hochberg has been confirmed as by the US Senate to serve a second term as president of the Export-Import Bank of the United States (US Ex-Im). This move followed President Obama’s decision to appoint him in March this year, and the Senate banking Commission nominating him in early June.

BAFT-IFSA announces head of trade services
BAFT-IFSA announces head of trade services
Jonathan Bell
15 July 2013

BAFT-IFSA, the US-headquartered international financial services association, has appointed Stacey Facter as the association’s new senior vice president of trade services.

StanChart signs bilateral RMB loan with Shenzhen International
StanChart signs bilateral RMB loan with Shenzhen International
Jonathan Bell
11 July 2013

The transaction marks the beginning of a new collaboration between both parties.

Morgan Lewis expands banking practice in Moscow
Morgan Lewis expands banking practice in Moscow
Mayur Pande
8 July 2013

International law firm Morgan Lewis has expanded its banking practice in Moscow with the recruitment of a team of eight from law firm Gide Loyrette Nouell. The group is led by partners Grigory Marinichev - the former head of the banking and finance and restructuring practices at Gide - and Konstantin Kochetkov, a leading project finance lawyer. A further six associates make up the remainder of the group.

Deutsche appoints Americas head of GTB
Deutsche appoints Americas head of GTB
Mayur Pande
5 July 2013

Deutsche Bank has appointed Susan Skerritt as its new regional head Americas for its global transaction banking division. She will be based in New York. Skerritt joins Deutsche Bank with more than 30 years of transaction banking experience covering cash management, global custody, corporate trust, treasury services and trade finance. Most recently she was executive vice president and global head of business strategy and market solutions, treasury services at BNY Mellon.

David Hennah rejoins Misys as head of trade
David Hennah rejoins Misys as head of trade
Jonathan Bell
2 July 2013

Trade industry specialist David Hennah has moved back to Misys after an eight-year stint with SWIFT. He has been hired by Misys as head of product management practice for the company’s integrated trade and supply chain finance solution, Misys TI Plus and Trade Portal.

Falcon group boosts Europe team
Falcon group boosts Europe team
Dan Sheriff
1 July 2013

Alternative trade financier Falcon Group has recruited Emma Clark as its new head of business development UK and Europe. She joins from insurance brokers RK Harrison where she was executive director, business and global accounts. Before that she was head of financial services at Sony.

Kexim and China Exim sign joint project pact
Kexim and China Exim sign joint project pact
Dan Sheriff
28 June 2013

The Export-Import Bank of Korea (Kexim) has signed a reciprocal risk participation agreement (RRPA) with the Export-Import Bank of China (China Exim) to boost collaboration between Korean and Chinese companies when entering a third country.

ANZ boosts export finance teams
ANZ boosts export finance teams
Dan Sheriff
24 June 2013

ANZ has made a several appointments to its structured export finance (SEF) team in London and Singapore as part of a re-shuffle of resources and strengthening of teams in key locations.

Odebrecht and Braskem appoint new CFOs
Odebrecht and Braskem appoint new CFOs
Mayur Pande
24 June 2013

Brazilian engineering, construction and production group Odebrecht has announced that Marcela Drehmer has been appointed as the new chief financial officer of Odebrecht SA.

FIMBank joins Middle East group KIPCO
FIMBank joins Middle East group KIPCO
Mayur Pande
24 June 2013

Malta-headquartered FIMBank has announced the completion of the first stage of a multi-step process which has seen Burgan Bank and United Gulf Bank (UGB), members of the KIPCO Group, acquiring 37.05% of shareholding in the bank. At the end of this process, these two major Middle Eastern banks will have

FMO arranges loan for Azerbaijan’s AccessBank
FMO arranges loan for Azerbaijan’s AccessBank
Jonathan Bell
21 June 2013

Azerbaijan’s AccessBank has secured a $60 million syndicated loan facility lead arranged by the Development Bank of the Netherlands (FMO). Other lenders under the FMO syndicated loan facility are, the Austrian Development Bank (OeEB), and Proparco of France who joined

Kexim and JBIC explore further collaboration prospects
Kexim and JBIC explore further collaboration prospects
Dan Sheriff
18 June 2013

The Export-Import Bank of Korea (Kexim) and Japan Bank for International Cooperation (JBIC) held a seminar in Tokyo on 17 June entitled ‘Collaboration between Japan and Korea in Overseas Projects’, to explore further ways to expand joint financing in overseas projects. This was the second joint seminar to be held between the Korean and Japanese export credit agencies (ECAs) since their first in June 2011, in Seoul.

AfDB and Commerzbank sign risk participation pact
AfDB and Commerzbank sign risk participation pact
Dan Sheriff
7 June 2013

The African Development Bank (AfDB) and Germany’s Commerzbank have signed a $100 million risk participation agreement (RPA) in a move to boost the provision of trade finance in Africa. Under the agreement, the two banks will share the default risk on a portfolio of eligible trade transactions originated by African issuing banks in Africa and confirmed by Commerzbank. The facility will help

IFC and CreditBank team for Lebanese trade finance
IFC and CreditBank team for Lebanese trade finance
Jonathan Bell
6 June 2013

The IFC has signed a trade finance agreement with CreditBank, a fast-growing bank in Lebanon, to help its client companies access global markets, boosting trade and spurring growth.

Morocco gains EBRD support for global trade
Morocco gains EBRD support for global trade
Dan Sheriff
3 June 2013

Trade finance in Morocco is set for a boost with the European Bank for Reconstruction and Development (EBRD) announcing a credit line for trade finance purposes to the local Banque Centrale Populaire (BCP). The loan comes under the EBRD’s Trade Facilitation Programme (TFP).

EDC provides surety bond to Brazil’s Odebrecht
EDC provides surety bond to Brazil’s Odebrecht
Mayur Pande
3 June 2013

Export Development Canada (EDC), the Canadian export credit agency, has announced that it will provide an innovative $200 million surety bond reinsurance facility for the global operations of Brazil’s Odebrecht group of companies.

My beautiful article
My beautiful article
James Petras
1 October 2011

Short desc: In Visual Basic and C#, you can call this method as an instance method on any object of type IEnumerable. When you use instance method syntax to call this method, omit the first parameter. For more information, see Extension Methods (Visual Basic) or Extension Methods (C# Programming Guide).