May 26, 2022
The Czech state-owned insurance company EGAP has secured a loan of CZK 2 billion from state COVID aid for Liberty Ostrava that is closely connected to Greensil, a company plagued by a corruption scandal.
February 3, 2022
Inflation is all over the news in Czechia these days. The prices of electricity, housing, goods and services are on the rise. One of the reasons behind this is the government’s excessive spending. While some of the budget items have been openly discussed, others are hidden to the public. One example is the COVID Plus state aid programme worth billions of Czech crowns for large export companies.
May 19, 2021
State support for exports is one part of a national budget where citizens are not sufficiently informed about how their taxes are being spent, and this is problematic given the vast financial flows to investments with questionable results.
April 19, 2021
Operating far from the public eye, export credit agencies offer state backing worth billions of dollars every year that in too many cases have enabled both the fossil fuels industry and human rights abuses around the world. These influential public finance institutions have also been relentless in resisting civil society legal challenges to shine a light on how they use public money.
September 4, 2020
Despite being the biggest class of public finance institutions operating internationally, export credit agencies (ECAs) are rarely subject to any public scrutiny. European ECAs declare the compliance with the non-binding OECD Common Approaches standards, but it’s an insufficient benchmark for evaluating compliance with the EU’s External Action obligations as stated by the relevant EU Regulation.
January 30, 2020
The Croatian Bank for Reconstruction and Development (HBOR) has recently started another court case against the decision of Croatia’s Information Commissioner before the High Administrative Court. In the contested decision, the Commissioner ordered HBOR to disclose information about its export credit projects to the environmental organization Green Istria. This court case adds to no fewer than 31 appeals that HBOR started against similar decisions by the Commissioner between 2015-2019. It lost all of them.
Great exportations: aligning Europe’s export credit agencies with the EU’s pro people and planet policy agenda
November 20, 2019
This document aims to provide information to Members of the European Parliament about the size, scope and lack of sufficient transparency at the export credit agencies (ECAs). The paper proposes changes to make the ECAs climate- friendly institutions,
November 20, 2019
Commission president Ursula von der Leyen has clearly expressed political will to focus on climate and sustainability in EU finance and policy coherence. The announcement of the European Green Deal is a chance to make good on leading sustainability a substantial portion of European public finance: export credits.
August 22, 2019
The Slovak government does not seem to understand the difference between export promotion and development aid, as it proposes to lump the two under one institution, Eximbanka SR.
August 15, 2019
At home, Slovakia pays lip service to the climate issues, but abroad – it does not even bother pretending. As it continues to finance crude oil facilities in Cuba, its real climate ambitions are laid bare.