A group of trade finance veterans has launched ETR Digital, a technology company offering DNIs to businesses and banks for trade.| Global Trade Review (GTR)
The International Chamber of Commerce (ICC) has launched a set of principles to help banks and their clients classify trade finance transactions as sustainable. There are currently no globally agreed regulatory standards on what constitutes sustainable finance, and regulators have signalled closer scrutiny of banks’ green finance claims over allegations of greenwashing. Trade finance instruments ...| Global Trade Review (GTR)
HSBC has won a legal victory in its attempts to claw back losses from a US$190mn facility it provided to since-bankrupt Hong Kong commodity trader NewOcean Energy. A British Virgin Islands (BVI) court granted HSBC’s application to wind up two companies which provided guarantees for the facility, which was extended in 2019 with the UK-headquartered ...| Global Trade Review (GTR)
Hyundai has secured a US$1.35bn term loan package from a group of international banks and Korea’s export credit agency, helping fund the company’s first electric vehicle (EV) plant in the US. The untied facility, which comes with a 10-year tenor, is backed with 95% cover from Korea Trade Insurance Corporation (K-Sure). Proceeds will be used ...| Global Trade Review (GTR)
Western nations have agreed to collaborate on expanding export credit agency (ECA) backing and development finance for critical minerals, following concerns over lagging investment in long-term supply and over-reliance on China. The Minerals Security Partnership, a coalition of 14 countries including all G7 states, Australia, India and South Korea as well as the European Union, ...| Global Trade Review (GTR)