The Export-Import Bank of Korea has approved a $14 million loan for the supply of refuse collection compactors to Sri Lanka. The deal will provide 190 refuse compactors to local authorities in nine provinces in order to collect and transfer large amount of waste to dumping sites.
The African Export-Import Bank (Afreximbank) and Attijariwafa bank have signed a memorandum of understanding to collaborate in developing a large framework of cooperation in trade across Africa. They will also work on cofinancing projects.
The African Export-Import Bank (Afreximbank) is to collaborate with the Export Development Bank of Egypt (EBE) on a $500 million Export Credit Support Scheme aimed at supporting exports and investments by Egyptian businesses to other African countries.
Four out of five directors of Belgian companies expect their exports to grow over the next three years, according to a survey performed by Trends-Tendances for Credendo. More than 350 CEOs and CFOs will on Thursday attend the 3rd Credendo Trade Forum entitled "Can protectionism hamper globalisation?"
The Export-Import Bank of China has agreed a $153 million loan facility to Zimbabwe for the upgrade of the Robert Gabriel Mugabe International Airport. The loan, which carries a concessionary 2% interest rate, is payable over 20 years.
Export credit agency SACE is to commit €125 million to support 40 Italian subcontracts for the construction of a new power station awarded to GE Power and Gama Power consortium by Bahrain's Alba. The Power Station 5 will be connected with the Line 6 Expansion Project.
The Russia-Japan Investment Fund - launched by the Russian Direct Investment Fund and Japan Bank for International Cooperation - has invested in the Russian pipeline operator, Transneft, the infrastructure through which up to 85% of the oil produced in Russia, and 26% of oil products, are transported.
Indonesian satellite communication group Pasifik Satelit Nusantara is set to launch a new satellite named PSN VI in 2018 to meet high demand in the country's broadband data sector. US-based Space System/Loral will develop the satellite, with Export Development Canada providing financing.
Change is necessary for virtually every organization, and yet also often painful for the people involved. So how can effective leaders identify and facilitate productive change? This episode of The Big Question features insights from Fred Hochberg, former Chairman and President of the Export-Import Bank of the United States, Jenny McColloch of McDonald's, Ashley Wheater of the Joffrey Ballet, and Chicago Booth's Harry L Davis.
South Korea's Hyundai Rotem has signed a €720 million deal with Iran to manufacture 450 rail buses for suburban trains as part of an €8 billion credit line from the Export-Import Bank of Korea (Kexim).
French energy company Engie said it won a contract from the Egyptian government to develop a 250MW wind farm in Ras Gharib area on the Gulf of Suez.
Engie's deal will be together with its consortium partners Toyota Tsusho Corporation/Eurus Energy Holdings Corporation (40%) and Orascom Construction (20%). The total investment for the project is likely to hit $400 million, with financing from the Japanese Bank for International Corporation (JBIC) in coordination with SMBC and Societe Generale.
The Japanese export credit agency NEXI is providing an insurance cover for the commercial lenders.
SIMEST has acquired an 11% stake in Ansaldo Energia Switzerland, a wholly-owned subsidiary of Ansaldo Energia, an Italian power engineering company. The company, together with SACE, is part of the export and internationalisation hub of Italy's CDP group.
The number of African countries represented on the African Export-Import Bank (Afreximbank) as participating states and/or shareholders has risen to 49 with the presentation of an Instrument of Accession to the Bank by the Central African Republic.
South Korea has increased bilateral concessional loans for Sri Lanka, from $300 million to $500 million through the Export-Import Bank of Korea. Priority will be given to education, transportation, water and sanitation, and rural development projects.
New minister for trade and export promotion, Baroness Rona Fairhead, today announced that UKEF are to launch a new product to support UK exporters and their supply chains. This comes under the export strategy review from the department of international trade.
The National Bank of Uzbekistan and the Export-Import Bank of Korea (Kexim) have signed a $150 million loan agreement to finance projects in the fields of agriculture, food industry, medicine, construction materials, automotive industry and others.
The Export-Import Bank of Hungary is to subscribe €100 million of Sino-CEE Fund on accumulative basis. Aiming to raise €10 billion, the Sino-CEE Fund is boosting investment cooperation between China and Central and Eastern European Countries. Its investments into Hungary are expected to exceed €300 million.
The European Investment bank has signed its first agreement with the African Export-Import Bank (Afreximbank). The agreement involves a finance facility for €100 million from the EIB and will fund trade-related investments and projects in Sub-Saharan Africa.
This year’s British Exporters Association (BExA) UKEF benchmarking report - 'Exporting is not the new black' - scores the ECA an impressive 9/10. However, the report is also insistent that, to fully promote UK exports, a pan-governmental approach must be taken. TXF talks to Marcus Dolman, co-chairman of BExA, about the issues behind some of the report's highlights.
BPER Banca and SACE have finalized two deals with Italian winery Librandi Antonio and Nicodemo for a total of €350,000. The winery will use the resources to obtain raw materials necessary to fulfil orders for foreign customers.
Export Development Canada (EDC) has opened a new permanent office in Sydney to help Canadian companies take advantage of the growing opportunities in Australia. Australia is Canada's largest destination for Canadian direct investment in the Asia-Pacific, and the fourth largest source of foreign direct investment into Canada.
Bosnian utility EPBiH has secured a $732 million 20-year loan (including five-year grace period) from Export-Import Bank of China (Chexim) to fund construction of a new generating plant at EPBiH's Tuzla coal-fired power station. The borrower is providing $109 million of equity towards the scheme. EPBiH awarded the 450MW project to China Gezhouba Group and Guandong Electric Power Design in 2014, but the deal was delayed by red tape and negotiations over financing.
Brazilian miner Vale and Mitsui have signed a $2.73 billion project financing for the Nacala logistics corridor - a railway system connecting the Moatize coal mine to the Nacala port in Mozambique.
The 14-year debt comprises a $1.03 billion direct loan from JBIC; a $1 billion NEXI-covered tranche from SMBC, BTMU, Mizuho Bank, Sumitomo Mitsui Trust Bank, Nippon Life Insurance and Standard Chartered; a $400 million ECIC-covered loan from ABSA Bank, Investec, Rand Merchant Bank and Standard Bank; and $300 million from the African Development Bank (AfDB).
The Export-Import Bank of Thailand has appointed Anuchit Vitayaburananont as first vice-president in charge of Corporate Business 4 Department, a new business unit to render services to large and leading Thai corporates and entrepreneurs in their export and investment overseas.
Turkey's Turk Eximbank is keen to support construction of the Belgrade-Sarajevo motorway, and rehabilitation of roads in Raska County. It follows a meeting of Deputy PM and Minister of Construction, Transport and Infrastructure, Zorana Mihajlovic, and the CEO of Turk Eximbank Adnan Yildirim.
In a recent report to mark 20 years of Zurich’s Credit and Political Risk programme, the insurer revealed that some $934 million in claims have been paid to business customers. Oliver O’Connell spoke with David Anderson, managing director at Zurich Credit & Political Risk, about trends in claims payments and why publishing claims payment data is so important to the
The Export-Import Bank of Korea (Kexim) has agreed to provide $2 billion in project financing to Uzbekistan. South Korea agreed another $500 million in official Economic Development Cooperation Fund loans.
The first non-recourse investment-grade bond to be used on a construction-stage offshore wind farm in the UK, the Walney Extension financing introduces a new UK asset class to institutional investors – albeit with very little construction risk.
ECAs are stepping up their SME support initiatives. Application processes and ease of access to export cover is improving. But as commercial banks retreat from the SME loans market, more ECA direct lending to SME exporters is a must.
Iraq has signed an agreement worth over $400 million with GE Power to build 14 electric substations in the country. GE will develop the substations to connect power plants spread across the governorates of Ninawa, Salah Al Din, Al Anbar, Karbala, Baghdad, Qadisiyyah and Basra to the national grid. GE will also assist the Ministry of Electricity with raising commercial bank and export credit agency funding for the project.
ECA borrowing in Russia was down by nearly 70% in H1 2017 as compared to H1 2016, but many people remain optimistic about opportunities for export finance in Russia going forward, bolstered by a strong rouble and an increasingly resilient economy. TXF asked three experts what they expected to see over the next year.
Georgia's TBC Bank has signed a $30 million loan agreement with Austrian development bank OeEB. The funds will be primarily used to finance rural areas outside of Tbilisi, MSMEs active in tourism and women-owned MSMEs.
South Africa has taken up shareholding in the African Export-Import Bank (Afreximbank). The country is being represented by the Export Credit Insurance Corporation of South Africa as its designated investor.
The East African country of Eritrea has become a member of the African Export-Import Bank (Afreximbank). It becomes the 48th African country to become a participating state or a shareholder in the continental multilateral trade finance institution.
Carillion Alawi, a JV between the Zawawi family and the UK's Carillion, has been signed on to build a UK Export Finance-backed 10ha hospital in the Omani port city of Khasab. The contractor also signed an agreement to design and build the new Sultan Qaboos Hospital in Salalah, also with UKEF support.
Financial solutions such as factoring and credit insurance are seen as key to the growth of small and medium-sized enterprises in Africa, a workshop organised by the African Export-Import Bank (Afreximbank) heard.
Among the coffee and croissants, Sullivan & Worcester’s breakfast seminar discussed the importance of the Equator Principles and how they create a common playing field for determining, assessing, and managing environmental and social risks in projects.
Nippon Export and Investment Insurance is providing loan insurance to support Cirebon2 ultra-supercritical coal fired power plant project. The project is to build a new 1,000MW power plant adjacent to the existing unit in the West Java Province of Indonesia.
The party of the year is back for 2018! Your flagship conference for all things project, export & agency finance is coming to the colourful city of Prague. TXF Global is here to make all your export & project finance dreams come true...