August 1, 2019
When respectable, risk-averse development banks turn away from a project, oftentimes export credit agencies (ECAs) are the ones to step in. These government-backed institutions manage hundreds of billions of dollars annually, investing mostly in large infrastructure projects in politically-volatile countries, while avoiding the same scrutiny as other public financiers.
July 25, 2019
The Turkish state fund TMSF opened a new round of bidding for the troubled Adularya coal power plant only two weeks after a second unsuccessful attempt to sell the project. The move is unexpected because this third round preempts statements by the Czech Minister of Industry and Trade, which had said it planned a visit to Ankara to understand why the tender failed for the project that has been plagued by legal challenges.
June 18, 2019
With many billions of dollars at their disposal, export credit agency finance far outpaces that of development banks and yet avoids the same public scrutiny. Most money flows into large infrastructure projects in politically-volatile countries that oft
July 9, 2018
The European Ombudsman has sided with the civil society demanding the European Commission to improve its oversight of the EU Export Credit Agencies (ECAs). The decision upholds an earlier ruling that required the Commission to ensure better compliance of these financial institutions with the EU law.
February 15, 2017
Although not an institution that typically receives much fanfare, the export credit agency (ECA) in the Czech Republic has a poor track record worthy of more scrutiny. Its latest failure relates to a contract for the construction of a power plant in Tu
September 22, 2016
The Czech daily Hospodarske Noviny (English: “Economic Newspaper”) is reporting today that the Czech Export Bank (CEB) and export insurance agency EGAP may not be be able to finance the Pljevlja II lignite power plant in Montenegro due to new OECD rules entering force on 1 January 2017.
May 27, 2014
According to data compiled by the Natural Resources Defense Council (NRDC), between 2007 and 2013 public financial institutions provided at least $55,7 billion in funding for coal projects abroad. The largest proportion of this comes from national Export Credit Agencies (ECAs) from OECD countries, which have provided at least $32 billion over this period or 58% of total support.