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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 ...
Russia’s invasion of Ukraine has placed further pressure on agricultural commodity flows, pushing prices higher and prompting longer-term warnings over food security and fertiliser availability. Together, Russia and Ukraine provide more than a quarter of the world’s wheat exports and a third of barley exports, according to research by agriculture-focused tech company Gro Intelligence. The ...
Africa’s first continent-wide digital system aimed at facilitating payments for goods and services in local currencies is weeks away from being deployed in live transactions, GTR can reveal. The Pan-African Payment and Settlement System (PAPSS) aims to enable the processing, clearing and settling of intra-African trade and commerce payments, leveraging a multilateral net settlement system. ...
Rising energy prices, shifting trade patterns and margin calls are driving liquidity shortages in the commodities trading market, experts warn, as banks reportedly remain nervous around lending. Following Russia’s invasion of Ukraine, European and US-led restrictions on oil and gas imports have rattled markets. Oil and gas price rises have accelerated due to potential supply ...