A landmark deal has been struck by Organisation for Economic Co-operation and Development (OECD) countries to formally ban export credit support for unabated coal-fired power plants, but campaigners are calling for the group to widen the scope of the restrictions. Participants to the OECD Arrangement on Officially Supported Export Credits have announced that an agreement has…| Global Trade Review (GTR)
The European Commission has approved a French export credit scheme that will temporarily boost reinsurance for beverage exports to the US, allowing firms to ship inventory before hefty tariffs come into effect. From May 8 to July 8, French companies exporting wine and spirits to US buyers will be granted access to a pre-existing €5bn…| Global Trade Review (GTR)
Seven European countries have formally committed to ending export finance agency support for fossil fuel projects, as efforts to curb public financing for high-emissions energy sources accelerate. Denmark, France, Germany, the Netherlands, Spain, Sweden and the UK announced a new alliance, the Export Finance for Future (E3F) coalition, following a virtual meeting today [April 14]…| Global Trade Review (GTR)
French oil major Total has inked a US$14.9bn senior debt financing agreement for its Mozambique liquefied natural gas (LNG) project, in what it says is the biggest project financing deal ever struck in Africa. The Mozambique LNG project, which has been in the pipeline since US exploration and production (E&P) firm Anadarko discovered sizeable reserves…| Global Trade Review (GTR)
US President Donald Trump has urged the Export-Import Bank of the United States to slash red tape and boost financing for the country’s coal industry, signalling a dramatic departure in White House energy policy.| Global Trade Review (GTR)
The UK has unveiled a £2bn funding boost for the country’s export credit agency aimed at boosting foreign sales of defence goods such as missiles, aircraft and armoured vehicles to allied partners. The move, announced by UK Chancellor Rachel Reeves on a visit to Scotland today, will grow the direct lending capacity of UK Export ...| Global Trade Review (GTR)
Financial backers are continuing to assess whether they should reaffirm their support for a multi-billion-dollar LNG project in Mozambique as operator Total looks to restart work. The project was suspended in 2021 after insurgents known as the Islamic State Mozambique attacked Palma, a town in the northern province of Cabo Delgado. Total declared force majeure ...| Global Trade Review (GTR)
Danish renewable energy developer Ørsted has secured a financing facility backed by a club of export credit agencies (ECAs) to fund an offshore wind project in Taiwan. The Changhua 4 wind farm, which is already under construction, will have 583 megawatts of capacity once completed and sit alongside three other wind farms, two of which ...| Global Trade Review (GTR)
Angola’s finance ministry and Standard Chartered have closed a €1.29bn deal backed by Germany’s export credit agency (ECA) to finance the construction of photovoltaic electricity distribution infrastructure. The transaction, which is the latest of several the bank has led for the Southern African country, will support an electrification project that is being developed by the ...| Global Trade Review (GTR)
