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UK Export Finance (UKEF) has agreed to guarantee a €2.4bn loan from a group of commercial banks for a high speed electric railway project in Turkey. The deal, signed in December, will see the UK’s official export credit agency (ECA) cover 85% of the total financing through its buyer credit scheme, which backs exports by ...
Adoption of the legal entity identifier (LEI) in trade is gathering pace, with Toronto-headquartered tech firm Surecomp becoming the latest company to integrate it into its systems. In a new partnership with the Global Legal Entity Identifier Foundation (GLEIF), the trade finance software and solutions provider will embed the global LEI index into all of ...
Belgium’s export credit agency (ECA) Credendo is weighing up the future of its joint venture with a commercial Russian insurer amid Russia’s invasion of Ukraine, as it nurses an exposure to the country of around €4bn. Credendo, which also offers private trade credit insurance, owns 67% of a joint venture, Credendo-Ingosstrakh Credit Insurance, with Ingosstrakh, ...
Export credit agencies (ECAs) in the EU have been given until the end of next year to set deadlines for ending support for the fossil fuel sector, as the bloc calls for a ban on export credit support for fossil fuels at the OECD. In a statement released following a meeting of EU finance ministers ...
The European Bank for Reconstruction and Development (EBRD) has unveiled fresh trade finance support for businesses affected by Russia’s invasion of Ukraine, both in the war-ravaged country and neighbouring nations. As the conflict approaches its fourth week, the EBRD has announced a €2bn resilience package and says various forms of financial aid will be made ...