Italy and Japan have become the latest nations to announce export credit backing for Ukraine, pledging billions of dollars in support even as Kyiv struggles to secure a wider aid package from the US. This week, the Ukrainian government announced that Italy’s export credit agency (ECA) Sace would allocate €1.5bn towards supporting exports and investments ...| Global Trade Review (GTR)
European governments are taking steps to inject much-needed capital into Ukraine’s reconstruction efforts, as several export credit agencies (ECAs) widen their risk appetite in the war-torn country. Last week, the Netherlands announced a €102mn package for Ukraine, which included fresh export credit support and funding to help Kyiv purchase gas and build up reserves ahead ...| Global Trade Review (GTR)
UK Export Finance (UKEF) is backing a £26.3mn loan from Citi to the Ukrainian government to enable it to reopen vital supply routes near Kyiv, marking one of the first commercial bank financings delivered to support the reconstruction of the war-torn country. The buyer credit loan guarantee, which UKEF says is the first of its ...| Global Trade Review (GTR)
The UK government is injecting an extra £20bn of capacity into UK Export Finance as part of a national trade strategy.| Global Trade Review (GTR)
The UK’s export credit agency has provided some £9bn in guarantees to help Poland build a missile defence system as the country bolsters its armed forces in the wake of Russia’s invasion of Ukraine. UK Export Finance (UKEF) chief executive, Tim Reid, in May sought permission from then-trade secretary Kimi Badenoch to go “significantly beyond” ...| Global Trade Review (GTR)
Newable, the only non-bank lender participating in a UK Export Finance (UKEF) guarantee scheme, has stopped providing new loans through the programme in a blow to small exporters. The London-headquartered company was one of the lenders in the General Export Facility (GEF) that offered small-ticket loans to SMEs. The segment is often overlooked by ...| Global Trade Review (GTR)
Lewis McVeigh of Counterline Ltd and Callum Rowe of MBDA have been named BExA-GTR Young Exporter and Young Export Financier of the Year, respectively. Now in its 18th year, the British Exporters Association (BExA)-GTR award is open to individuals under 35 years old who work in the export or export finance department of a UK-registered ...| Global Trade Review (GTR)
Finland and Belgium have joined a growing list of countries restarting export credit cover in Ukraine, offering a welcome boost to Kyiv’s reconstruction plans. In recent weeks, Belgium’s government ordered its export credit agency (ECA), Credendo, to resume business in Ukraine and apportioned €100mn in additional capacity for the market. €75mn is being ringfenced for ...| Global Trade Review (GTR)
The EU has vowed to squeeze the Kremlin’s energy revenues further, imposing fresh sanctions on its network of ageing ships and proposing a lower a price cap on Russian oil.| Global Trade Review (GTR)
The EU has begun striking deals under a pioneering risk-sharing scheme for the export credit sector, agreeing to backstop Danish exports to Ukraine and unveiling plans to support a dozen more member states. Earlier today, the Export and Investment Fund of Denmark (EIFO) announced it had become the first export credit agency (ECA) to utilise ...| Global Trade Review (GTR)
The United Kingdom has approved a £1.6bn export finance facility that will back the sale of air defence missiles to war-torn Ukraine.| Global Trade Review (GTR)
Denmark’s export credit agency is gearing up to sign several “large” transactions in Ukraine after securing a significant funding injection from the Danish state to support Kyiv’s rebuild efforts.| Global Trade Review (GTR)
The UK and Ukraine have signed an expanded defence pact and an export credit deal for the Ukrainian nuclear energy operator. A Defence Export Support Treaty, signed last week during a visit to London by Ukrainian President Volodymyr Zelenskyy, will allow Kyiv to use part of UK Export Finance’s (UKEF) £3.5bn capacity for Ukraine coverage ...| Global Trade Review (GTR)
The European Union is advancing plans to launch its inaugural risk-sharing instrument for the export credit sector, with a pilot initiative aimed at boosting SME exports to war-torn Ukraine. The European Commission is developing the scheme alongside the EU’s SME financing arm, the European Investment Fund (EIF), which is expected to guarantee export credit deals ...| Global Trade Review (GTR)