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Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
Trade Finance Press Abstracts
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Trade Finance Press Abstracts

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  • 1. International Trade Centre U N C TA D / W T O Trade Finance No.1 & 2/2003 Trade Finance Press Abstracts Contents Feature Article . Trade Finance Pointers 3 Acronyms and Abreviations 5 Trends and Recent Developments 6 News from the Regions . Middle-East and Asia 15 . Eastern and Western Europe 17 . Africa 18 . Latin America & The Caribbean 19 News on ITC’s Trade Finance Programme 21 OECD Export Credit Rates 22 ITC Publications on Trade Finance 23 List of ITC Publications on Trade Finance 25 National Adaption of ITC Guides 26 Main Export Credit Agencies 31 Sources for the Press Abstracts 46
  • 2. International Trade Centre UNCTAD/WTO Trade Finance Programme ITC AND THE PRESS ABSTRACTS The mission of the International Trade Centre UNCTAD/WTO is to support developing and transition economies -and in particular their business sectors- in their efforts to realise their full potential for developing exports and improving import operations, with the ultimate goal of achieving sustainable development. Furthermore, as an executive agency of the United Nations Development Programme (UNDP), ITC directly implements UNDP-financed projects related to trade promotion in developing countries and economies in transition. The ITC trade promotion programmes cover six key areas: Product and Market Development; Development of Trade Support Services; Trade Information; Human Resource Development; International Purchasing and Supply Management; and Needs Assessment and Programme Design for Trade Promotion. The Trade Finance Press Abstracts are compiled quarterly by ITC’s Trade Finance Programme in an effort to provide news and specialised information concerning international trade credit and credit insurance to entrepreneurs, bankers and financial experts in developing countries. Although its content may vary from issue to issue, it is usually structured around a general section, covering trends, new products and regional sections, made up of news from individual agencies. Events and news from ITC’s Trade Finance team complement the bulletin. ITC’s TRADE FINANCE PROGRAMME What is it? A programme aimed at facilitating access to finance for developing and transition countries’ SMEs. How? The programme provides assistance to developing countries and economies in transition, via the strengthening of the existing structure of their financial institutions, mechanisms, and schemes - both at public and private sector levels - in order to facilitate the exporting community’s access to finance. It also contributes to building up enterprise capability in the financial field in order to enable these countries and economies to become competitive in international markets whilst reducing their export risks. Who is it for? The Programme is targeted at enterprises and public and private financial institutions in developing and transition countries, with a particular emphasis on LDCs. This issue covers the period from January to June 2003 For further information, please visit ITC’s website at http://www.intracen.org/tfs/ or contact Mr. Carlo F. Cattani Senior Adviser on Trade Finance, BAS/DTSS Telephone: (+41) 22 730 0308, Fax: (+41) 22 730 0576 E-mail: cattani@intracen.org Press Abstracts n° 1 & 2/2003 Page 2
  • 3. International Trade Centre UNCTAD/WTO Trade Finance Programme FEATURE ARTICLE TRADE FINANCE POINTERS Introduction Mapping out Trade Finance Pointers The export capacity of a country is strongly Trade Finance Pointers consist of two groups dependent on the effectiveness of its trade of composite indexes analysing the finance capacity. Assisting developing macroeconomic environment - and the Trade countries in building up this capacity requires a Finance institutional structure and capacity specific analysis for each country. framework of a country’s trade finance capacity. As a first step, data on the country The aim of this article is to give an outline of needs to be collected. These are a the latest service the Trade Finance Services combination of IMF and World Bank. of the International Trade Centre UNCTAD/WTO (ITC) is offering: The Trade The macroeconomic framework includes trade Finance Pointers which is based on a set of indicators, showing the level of outward indicators pertaining to the trade finance orientation of an economy and its export framework and its related macroeconomic performance. Then external resources based environment for 156 developing countries. This on yearly external flows, indicating the is an instrument to facilitate and structure the availability of funds with a focus on stability quantitative analysis of the trade finance and future debt burden. Next the debt capacity of a given country while making it less overhang and the external liquidity are costly. It is valuable to decision-makers, measured. In addition the exchange rate providing a good visual overview of the policy and foreign exchange availability are strengths and weaknesses of a country’s trade evaluated. For this purpose, foreign rate finance capacity. arrangements, volatility of exchange rates and business reactions to exchange rate policies The Trade Finance Pointers covers the three are reviewed. Besides these, monetary and main benchmarks for the financial system of financial systems are examined, with 155 countries: performance, depth and reference to the level of financial development completeness. These benchmarks comprise based on measures of monetisation. Likewise 52 indicators, each of them being analysed the credit market that refers to the factors using a specific methodology combining both influencing the ultimate cost of credit is data from statistical research on studied. Finally, the completeness and macroeconomic indicators and data from local adequacy of the legal system supporting surveys focusing on microeconomic aspects trade finance is looked at. related to the trade finance capacity. These elements are then combined to produce The microeconomic framework includes an graphics and tables that can be examined at a analysis of the financial institutions, glance and then used as the basis for a more indicating the completeness and efficiency of thorough analysis. By comparing the the banking system, as well as of the capital benchmarks of a country for different years, and credit restrictions, looking at the trends can be plotted to provide analytical and existence of government restrictions on capital critical elements for decision-making. and market instruments. It also includes an analysis of the cost of borrowing, for exporters and importers both in terms of premiums paid on LIBOR and lending rates. Press Abstracts n° 1 & 2/2003 Page 3
  • 4. International Trade Centre UNCTAD/WTO Trade Finance Programme Each composite index is made up of several Using Trade Finance Pointers basic indicators pertaining to that index. Values and indicators are directly visible on the After drawing up a Trade Finance Pointers, Trade Finance Pointers. To arrive at those decision-makers can easily spot the strengths composite indexes, ITC has drawn up and weaknesses of the trade finance capacity appropriate but simple formulas. Details are of a given country. The ready reckoner chart contained in a technical paper available on and the table of indicators serve then as a request. visual data “map” for diagnosis purposes. Special training courses, seminars and specific In parallel with desk research work, trained interventions can then be organized, mainly national consultants carry out local surveys in addressed to TPOs and regional banks, to order to collect country-specific data. Their assist in improving the country’s trade finance interviews with local banks and financial capacity. institutions cover three main areas: the financial environment, the status of the In addition a dynamic view on the development financial sector and the financial products of the analysed sector can be given if data of offered. The financial environment indicates recent years are collected. Data can be simply the range of financial institutions existing in the integrated in the visualization instruments. The country and how efficiently they are run. The ready reckoner chart plots a curve of the status of the financial sector shows the depth development of the previous years. The table of the financial sector, with reference to the of indicators also displays, in an extra column, existence of specific procedures or an arrow-symbol pointing to the trend for each instruments. Lastly the data on available indicator. financial products supply information on the existence of specific financial products and Maintaining Trade Finance Pointers at national mechanisms. level will be made relatively easy by ITC’s basic database of worldwide relevant macro National consultants also have the task testing level indicators. To complete the in-depth the adequacy of the legal system at banking analysis, local surveys are required and will be and business community levels. After the carried out by local partner institutions or by collection of the relevant data the Trade ITC on demand. Finance Pointers can be drawn up and visualized by way of two practical elements: a In brief: ready reckoner chart and a table of indicators. Trade Finance Pointers can be used to assess need of the trade finance sector of a country The <<ready reckoner chart>> plots the and to identify concrete measures to improve average value of the macroeconomic indexes and complete the offer of financial services on the x-axis and the financial framework required to compete in the global trade. Trade indexes average value on the y-axis. The is obviously also affected by other factors that cross over point gives an indication of the may not be specifically included in the Trade relative strength or weakness of a country’s Finance Pointers, such as health, trade finance capacity. communication and the like. However most The table of indicators lists all values making factors directly linked with the provisions of up the composite indexes. The result for each finance such as the objectivity and efficiency of index can additionally be compared with a the legal system are included. benchmark. In that way possible weaknesses can be spotted and are highlighted by a three- From the practical point of view, the main color light system (green, amber, red). advantage of the Trade Finance Pointers is its simple and structured approach in analysing the trade finance capacity. Findings are easily obtained, can be compared and exchanged communicated, especially between decision- makers. The methodology provides an analytical approach that is applicable to all countries, and can be compared and monitored year after year. Press Abstracts n° 1 & 2/2003 Page 4
  • 5. International Trade Centre UNCTAD/WTO Trade Finance Programme ACRONYMS AND ABBREVIATIONS The following acronyms and abbreviations are used: CIRR Commercial Interest Reference Rate COFACE Compagnie Française d’Assurance pour le Commerce Extérieur ECA(s) Export Credit Agency (Agencies) ECGC Export Credit Guarantee Corporation, India ECGD Export Credit Guarantee Department, United Kingdom FDI Foreign Direct Investment GTF Global Trade Finance HICP(s) Heavily Indebted Poor Country (Countries) IMF International Monetary Fund KfW Kreditanstalt für Wiederaufbau L/C Letter of Credit LDC(s) Least Developed Country (Countries) LIBOR London Interbank Offered Rate MIGA Multilateral Investment Guarantee Agency NCM Nederlandsche Credietverzekering Maatschappij, Netherlands OPIC Overseas Private Investment Corporation PTD Power Transmission & Distribution S&P Standard & Poor’s (ComStock Inc., USA) SME(s) Small- and Medium-Sized Enterprise(s) IT Information Technology TF Trade Facilitation In this issue: AFESD Arab Fund for Economic and Social Development ART Alternative Risk Transfer ATI African Trade Insurance Agency BOOT Buy Own Operate Transfer CCB Czechoslovak Commercial Bank DRC Democratic Republic of Congo EEHC Egyptian Electricity Holding Company EFIC Export Finance Insurance Corporation ECG Export Credit Group, OECD FSA Financial Services Agency IDA International Development Agency IDB Islamic Development Bank KNCU Kilimanjaro Native Corporation Scheme, Tanzania SACE Sezione Speciale per l’Assicurazione del Credito all’Esportazione, Italy SURF Settlement Utility for Risk and Finance VEB Vneshconom Bank, Russia VTB Vneshtotg Bank of Russia Press Abstracts n° 1 & 2/2003 Page 5
  • 6. International Trade Centre UNCTAD/WTO Trade Finance Programme TRENDS AND RECENT DEVELOPMENTS CREDIT INSURANCE ♦ US Ex-Im supports business in Israel, ♦ ECGD towards innovation Turkey and the Dominican Republic ECGD is streamlining its operations ahead A US$ 35 million long-term loan guarantee of its transformation into a government- from US Ex-Im will cover exports to Israel trading fund. The agency wants to improve worth US$ 32.6 million coming from the level of service it provides to UK Siemens PTD in Minneapolis as well as exporters and implements a package of financing fees and project-related hardware measures: an improved country cover costs worth US$ 2.4 million. The regime under which exporters are been guaranteed lender is BNP. US Ex-Im will given better information about ECGD’s provide political and commercial cover on position on countries, fostering private the transactions. Exports consist of sector links with banks, simplify the software and services to upgrade an procedures to approve deals more quickly, electric power distribution system. and reduce the burden on industry by At the end of 2002, US Ex-Im approved a restructuring the environmental and social US$ 14.3 million long-term cover for screening of projects.♦ medical equipment going to a hospital in (Trade Finance, April 2003) Ankara and sold by Marubeni America Corporation. ♦ Coface upgrades Vietnam and In the Dominican Republic, a US$ 49.6 downgrades three South American million long-term loan supports the export of countries equipment and services for a gold mine site coming from SRK Consulting. The Coface @ratings: latest changes (last updated: June 2003) guaranteed lender is JP Morgan Chase. Country July 2002 September 2002 December 2002 March 2003 Another US Ex-Im guarantee worth US$ 45.3 million is being provided for Vietnam C positive C positive C positive B watchlisted watchlisted watchlisted exports of asphalt for road development and maintenance in the Dominican Bolivia B B B C Republic.♦ Paraguay C C negative C negative D watchlisted watchlisted (Trade Finance, February 2003) Uruguay C C C D C positive ♦ Coface reports business growth Turkey C C watchlisted C A4 negative After weak figures in 2001, Coface reports a Israel A4 A5 A4 watchlisted recovery of turnover, cost ratio and loss ratio terms for 2002. The consolidated Egypt B B B B negative turnover increased from € 925.6 million in watchlisted 2001 to € 973.0 million in 2002. Coface’s B negative credit insurance business grew by 5.1% last Jordan B B B watchlisted year, credit management services by 7.1% Source: www.cofacerating.com ; June 2003 and guarantee insurance by 18.7%. However, there was a decline in net Coface has modified the rating position of financial income and net profit, which is at € some countries showing how risk 18.8 million.♦ perception is changing in particular for (Trade Finance, March 2003) markets in South America and the Middle East. Press Abstracts n° 1 & 2/2003 Page 6
  • 7. International Trade Centre UNCTAD/WTO Trade Finance Programme Vietnam has been upgraded from C to B ♦ UPS launches a new service to because of its sustained growth, which was accelerate trade payments stimulated by private company dynamism, increased foreign direct investment, UPS has introduced a new service to expansionary fiscal policy and positive support exporters and importers in effects of the trade agreement with the accelerating payments and reducing risk United States. associated with international trade Countries in Latin America still suffer from transactions. The new service, Exchange the Argentine crisis: Bolivia, Paraguay and CollectSM, guarantees payment for sellers Uruguay have been downgraded. In the first because UPS will deliver the goods only two countries, political uncertainties have after receiving payment from the buyer. been exacerbated by social unrest. First, importer and exporter specify UPS for Turkey has been taken off Coface’s positive financial settlement. Then, the exporter “watchlist” due to the deteriorating ships the goods and UPS notifies the economy. Moreover, the government’s importer via email that the goods are in decision to pursue minimal cooperation with transit. Next, the importer electronically the United States for the military transfers payment for the goods to UPS that intervention in the Iraq, made the outlook will deliver the shipment to the importer. even less favourable. Finally, after verification of delivery, UPS Israel, Egypt and Jordan have been placed electronically remits the payment to the on the negative “watchlist” not only because exporter’s bank. Hence, the mechanism of their exposure to the effects of the recent permits to minimize risk in trading with new war, but also because economies are customers. already under pressure from global The new service is designed to complement downturn.♦ the existing UPS Collect on delivery (COD) (Trade Finance, April 2003) services available across the EU, Norway and Switzerland.♦ ♦ US Ex-Im expands short term insurance (Trade Finance, May 2003) programme in Africa ♦ E&H is heading towards south-eastern US Ex-Im’s short term insurance pilot Europe programme for Africa is now available in 39 sub-Saharan African countries. There has The Euler & Hermes group is planning to been the renewal of the pilot programme for increase its physical presence in south- three years, with an overall limit of US$ 100 eastern Europe, where credit insurance is million. In 2002, US Ex-Im supported not yet completely developed. Hermes transactions for a total of US$ 475 million in South East Europe (HSEE) was set up in authorizations. This is a substantial 2002 by Hermes (which handles Euler & increase over the previous year.♦ Hermes’ credit insurance business in (Trade Finance, May 2003) central and eastern Europe) and Austria’s Oesterreichische Kontrollbank (OeKB) to ♦ OPIC sustains telecommunications and open up new markets for credit insurance. Internet services in Nigeria Romania will be the first target, but also incursions into Bulgaria, Slovenia and Overseas Private Investment Corporation Croatia are planned for the near future. (OPIC) has provided political risk insurance, Bosnia, Serbia, Macedonia and Albania are to a US small business to supply four considered to be interesting markets but commercial airports in Nigeria with currently too difficult from a risk perspective. telecommunications and Internet service Cooperation with other insurance centres. OPIC will extend up to US$ 2 companies is considered to be the key million in insurance to NIS Solutions for the element for HSEE entering relatively installation of the centres. An important unfamiliar markets. In particular, HSEE development benefit of this project is the hopes for some co-operation from banking increase in Internet connectivity in sub- groups such as Austria’s Raiffeisen Saharan Africa. Even though Internet Zentralbank (RZB) and the German HVB connectivity in sub-Saharan Africa has Group, which have well-developed doubled from 2000 to 2001, it is still on a networks in the region.♦ modest level compared to other emerging (International Trade Finance, April 2003) markets such as Latin America.♦ (Trade Finance, May 2003) Press Abstracts n° 1 & 2/2003 Page 7
  • 8. International Trade Centre UNCTAD/WTO Trade Finance Programme ♦ S&P’s cuts rating of Munich Re ♦ ADB develops its PRG programme in Vietnam and Pakistan Standard and Poor’s (S&P) has downgraded Munich Re from AA plus to AA The Asian Development Bank (ADB) is minus after the German reinsurer reported trying to close a US$ 235 million cluster of a third quarter loss for 2002 of € 2.2 billion. new facilities for Vietnam and Pakistan Munich Re is planning to issue a mobilised under the bank’s Political Risk subordinated bond to improve its balance Guarantee (PRG) scheme. Total approvals sheet.♦ would amount then to US$ 511 million. The (International Trade Finance, April 2003) PRG, established in 1995, was re-launched in 2000 because of the problems stemming ♦ Credit insurers start improving their from the 1997-98 Asian crises. position after the economic downturn The scheme provides loan default protection against political risks, giving Coface and Euler & Hermes (E&H) support to commercial banks and sponsors. improved their financial results in 2002 Such risks include expropriation or showing that at least part of the credit nationalisation of assets, failure by the insurance industry is rebuilding its strength government to honour payment obligations after the global economic slowdown. E&H as well as the imposition of foreign has reported an underwriting surplus of exchange conversion and transfer € 64 million for 2002 that represents a restrictions. remarkable improvement compared with a Asian countries where project and € 22 million loss in 2001. Coface managed commercial finance is in short supply could to cut the gross loss on its underwriting be potential PRG markets. In Bangladesh, business by more than half, to € 28.6 Sri Lanka, Pakistan and Vietnam the million, with the second half of 2002 in profit scheme has been playing a crucial role. of € 14.4 million. Despite difficult business Laos, Cambodia and Indonesia would also conditions and a high rate of company be reasonable places to see demand for failures in important markets, it seems that PRG increase.♦ rate rises and are active risk selections (International Trade Finance, March 2003) have allowed the two institutions to curb claims losses and improve revenue. ♦ Fitch upgrades Russian sovereign Leading underwriters seem to have got the ratings measure of the problematic conditions, without resorting to a radical cut-back of Fitch upgrades the Russian long-term their risk capacity. Remedial action has foreign currency and local credit from BB- to been significant but limited, even if premium BB+. Data confirm a strong macroeconomic hikes have been remarkable, in percentage performance and prudent policy led to terms.♦ improvement in real income, debt ratios and (International Trade Finance, March 2003) liquidity.♦ (International Trade Finance, May 2003) ♦ ECGD and NCM co-operate ♦ S&P downgraded Bank of China The UK’s Export Credits Guarantee Department (ECGD) and the Dutch ECA Standard & Poor’s (S&P) lowered the NCM agreed on co-operation in cases outlook on its credit rating for Bank of China where UK and Dutch exporters are Hong Kong (BOCHK). Doubts came as the exporting jointly to a third country. The ECA Hong Kong Monetary Authority (HKMA) - of the country whose exporter holds the Hong Kong’s banking regulator - planned to largest share of the transaction will provide examine the bank as part of an inquiry into export credit for the whole deal. The other loan to a company controlled by detained ECA will provide reinsurance.♦ magnate Zhou Zhengyi. (International Trade Finance, March 2003 Press Abstracts n° 1 & 2/2003 Page 8
  • 9. International Trade Centre UNCTAD/WTO Trade Finance Programme Moreover BOCHK revealed that in June ♦ US Ex-Im pushes its early project 2002 it lent US$ 269 million to New Nongkai development initiative Global Investments, which is another company controlled by Zhou Zhengyi. The US Ex-Im wants to improve the co- loan, that was used to buy a 75% stake in ordination of US Government trade Hong Kong-listed Shanghai Land, is in agencies, which secure contracts for US default with HK$741 million outstanding. exporters. The creation of an “early project S&P lowered its outlook on the bank’s letter of interest” should signal preliminary rating to negative (BBB-).♦ interest in a project before contracts are (International Trade Finance, May 2003) signed. At the moment, the bank is focusing its interest in particular on Mexico, which is ♦ Coface sees tentative economic US Ex-Im’s largest market, China and recovery Russia. However, there are plans to focus on other target markets.♦ Although payment risk levels remain (International Trade Finance, June 2003) generally high, Coface is rather optimistic about a possibly more sustained recovery, ♦ S&P upgrades Bulgaria boosted by a few economic sectors. According to the French credit insurer, the Standard & Poor’s (S&P) raised Bulgaria’s best performance refers to pharmaceuticals long-term currency rating from BB to BB+ and mass distribution that have not been because of strong growth in GDP, falling particularly affected by cyclical fluctuations public debt and fiscal prudence by the and are characterized by an upward trend. government.♦ More cyclical sectors like electronics, (International Trade Finance, June 2003) chemicals and paper should be on the way to recovery, but their future depends on the ♦ Moody’s downgraded Jamaica’s investment and world demand levels. The sovereign rating previsions are less optimistic for the car and construction industries, whose markets are Moody’s Investors’ Service downgraded the glutted. Finally, prospects are still modest sovereign rating for Jamaica from Ba3 to for tourism, textiles and steel.♦ B1. The agency observed an increased risk (International Trade Finance, February 2003) in the efforts to shore up the country’s currency. The ratio debt to GDP was 141% ♦ Belgian ECA Ducroire changes its in March, with fiscal deficits far beyond perspective of risk in Eastern Europe government targets.♦ (International Trade Finance, June 2003) Medium and long term export credit risk of Lithuania and Latvia passed from grade ♦ S&P’s rates Indian currency four to three. Political risk insurance for export credit in Romania changed from six Standard & Poor’s has indicated India’s to five. The Swiss ECA adopted the same long-term foreign currency rating at BB, and changes.♦ the long-term local currency rating at BB+. (International Trade Finance, February 2003) The upcoming federal budget for the year to March 2004 is expected to show whether ♦ EDC business climbs the government is able to capitalise on the recent step up in reforms to improve the Export Development Canada (EDC) raised country’s weak public finances.♦ their business volume in 2002 by $34.5 (Asia Weekly Financial Alert, January 2003) billion. As the perception of global risk worsened, demand for trade finance and ♦ African rating update from CGES South risk management services increased. Africa Despite decreasing Canadian exports, the value of EDC’s financing and insurance The following country classification short- services rose 16% and customer numbers term regradings are currently effective for increased by 14%.♦ shipments. (International Trade Finance, March 2003) Press Abstracts n° 1 & 2/2003 Page 9
  • 10. International Trade Centre UNCTAD/WTO Trade Finance Programme Country Rating Date Country Rating Date ♦ ABN Amro launches an integrated Angola ZZ Jan Mada- off Jun 2003 gascar cover 2003 structured financing platform Bots- 1B Feb Mauritius 1B Feb wana 2003 2003 ABN Amro has integrated its global financial Burkina 3C Jun Mozam- 3C Jan markets business with loan products in the Faso 2003 bique 2003 Gabon 3C Jun Namibia 2B Feb bank’s wholesale clients business. The 2003 2003 project focuses on the development of new Gambia 3C Jun Nigeria 3C Sep solutions in the fields of loan syndication, 2003 2001 corporate lending, project finance, trade Kenya 3C Jun Sey- ZZ Jan and commodity finance, foreign exchange 2003 chelles 2003 Lesotho 2C Jun Tanzania 3C Feb and risk advisory. Financial markets 2003 2003 includes at the moment six new global Malawi 3C Jun Uganda 3C Feb product lines: credit market, structured 2003 2003 credit markets, rates markets, foreign DRC ZZ Dec Zambia 3C Jan 2001 2003 exchange markets, portfolio management Ghana 3C Feb Zim- off April and distribution.♦ 2003 babwe cover 2001 (Trade Finance, March 2003) Source: www.creditgurantee.co.za; June 2003 (Credit Guarantee Economic Services, June 2003) ♦ NBP provides credit for Vneshtorgbank French bank Natexis Banques Populaires BANKING SECTOR has opened a € 300 million credit line for Russia’s Vneshtorgbank. The financing will be used for French exports of equipment, ♦ Deutsche Bank completed loan to goods and services into Russia. Coface is Hungary’s GBT willing to offer coverage and the Russian government does not have to provide Deutsche Bank has arranged a £40 million guarantee. Vneshtorgbank’s customers can syndicated trade-related term loan for use credit facilities offered under this Hungary’s General Banking & Trust agreement to purchase goods and Company (GBT). GBT will on-lend the equipment also in other EU countries, in the funds to finance trade contracts. The loan US and in Canada. Guarantees are has a margin of 0.75% p.a. and a tenor of supposed to be provided by the respective two years. Apart from Deutsche Bank acting national export credit agencies.♦ as mandated arranger, 11 other banks have (Trade Finance, March 2003) joined the transaction. ♦ (Trade Finance, February 2003) ♦ Enhanced quality control is high on US Ex-Im’s agenda ♦ EBRD is lending to four CEE leasing companies US Ex-Im’s annual measures of operational performance will measure transaction The European Bank for Reconstruction and efficiency, transaction cycle time, resource Development (EBRD) is lending € 27 million utilization and customer satisfaction to to four Central and Eastern European analyse overall effectiveness of the (CEE) leasing companies owned by services. Numbers of employees, Austria’s Raiffeisen Zentralbank (RZB) transactions and business days will be Group. The financing is part of the EU- included in the numeric formulations. Data EBRD finance facility launched in 1999 on customer satisfaction will be obtained under the Phare programme for the from surveys conducted by the Federal accession countries to the European Union. Consulting Group.♦ The facility supports the growth of small- (Trade Finance, March 2003) and medium-sized enterprises (SMEs). The total amount of € 27 million is shared between Raiffeisen Leasing Czech Republic (€ 10 million), Raiffeisen Leasing Slovenia (€ 7 million), Raiffeisen Leasing Romania (€ 5 million) and Tatra Leasing Slovakia (€ 5 million).♦ (Trade Finance, February 2003) Press Abstracts n° 1 & 2/2003 Page 10
  • 11. International Trade Centre UNCTAD/WTO Trade Finance Programme ♦ Bank of Hawaii chooses Misys IBSTI also receive a second tranche of an EC package of financial and technical support Bank of Hawaii has opted for Misys worth up to € 1.6 million. The credit line will International Banking Systems’ Trade be used for smaller loans using credit Innovation (IBSTI) solution and Trade scoring and for supporting the development Innovation e-banking products to improve of SMEs operations in Czech Republic.♦ trade finance activities. Trade Innovation (Trade Finance, April 2003) will support the bank’s business applications in international trade. The ♦ JPMorgan and Deutsche Bank arranged system suggests more control and higher ZABA loan quality customer management.♦ (Trade Finance, March 2003) Deutsche Bank and JPMorgan have jointly arranged a € 140 million syndicated term ♦ PHC registers with Cofanet loan facility for Zagrebacka Banka (ZABA). ZABA is the largest bank in Croatia with Precision Hydraulic Cylinders UK (PHC), a total assets of € 7.21 billion at the end of mechanical engineering company, which 2002. The facility will be used to provide has an open trade credit insurance policy, ZABA with funds for on-lending to its clients has registered with the Cofanet online for general trade purposes. The loan has a service, the Coface’s automated credit margin of 65bp over Libor and has a three- management system. Through Cofanet, year tenor. Deutsche Bank acts as facility PHC is able to apply for credit limits on new agent.♦ trading partners, as well as monitor the (Trade Finance, May 2003) current limits on customers. Furthermore, PHC can compile customized management ♦ EBRD develops its TFP reports detailing its credit management portfolio by company, country, date or The European Bank for Reconstruction and status.♦ Development (EBRD) supports trade worth (Trade Finance, March 2003) over € 1 billion in Eastern Europe and the CIS through its Trade Facilitation ♦ Loan from Deutsche Bank and SBL for Programme (TFP). The programme was Russia’s MDM Bank launched in 1999 to catalyse appetite for the region’s short-term trade risks among Deutsche Bank and Standard Bank London commercial banks. By the end of 2002, the (SBL) have mandated to arrange a US$ 50 TFP had provided guarantees totalling € million syndicated trade-related loan facility 928.5 million, supporting trade worth € 1.07 for Russia’s MDM Bank. The loan is billion. In 2002, EBRD issued guarantees guaranteed by MDM Holdings and SBL acts and financed trade around € 369 million. as the facility agent of the transaction. The Compared with 2001 (€ 345 million), these loan has a margin of 2.95% p.a. and a 12- figures represent a slight increase. months tenor. At the moment, the arrangers Remarkable results have been reached in have concluded a successful pre- the Russian market, which has generated syndication phase and Commerzbank and over 30% of the TFP’s issuing bank deal Dresdner Kleinwort Wasserstein acting volumes. Russia has evolved to a stage through Dresdner Bank Luxembourg have where the EBRD tends to work with the joined the transaction at arranger level.♦ country’s larger banks to cover longer-tenor (Trade Finance, April 2003) transactions (12 to 36 months).♦ (International Trade Finance, March 2003) ♦ EBRD extends credit line for VUB ♦ Deutsche Bank introduces new trade EBRD is extending a € 20 million credit line finance software in Hong Kong to Vseobecná úverová bankato (VUB) to support SMEs in the Slovak Republic. The Deutsche Bank has launched its InfoTrack credit line is funded jointly by the European trade finance software at a Hong Kong Commission and by EBRD. It has a five- ceremony. The new software offers clients year maturity and will allow VUB to take information on the presentation and good quality loans with a volume of up to € fulfilment of letters of credit, open account 125.000 each into their portfolio. VUB will trading, recording transactions and Press Abstracts n° 1 & 2/2003 Page 11
  • 12. International Trade Centre UNCTAD/WTO Trade Finance Programme movements of documentation in clients’ already agreements with Egypt, South accounts. It also allows users to customise Africa, Nigeria, Mozambique and with the the presentation of the information to suit Southern African Trade and Development their needs.♦ Bank. The Bank of Africa, headquartered in (International Trade Finance, March 2003) Benin, has offices in Madagascar, Niger, Burkina Faso, Senegal and Cote d’Ivoire.♦ ♦ IDB approves US$ 430 million new (International Trade Finance, June 2003) finance for projects The Islamic Development Bank (IDB) agreed on US$ 430 million new finance for SMES projects at its 212th board session. The funding will be used as follows: US$ 30 ♦ EDC-Scotiabank partnership for new million to buy a dredger for the port of products for SMEs Qasim in Pakistan, US$ 43 million for expansion of the Misurata steel Complex in Scotiabank and Export Development Libya, US$ 30 million financing for three Canada (EDC) are providing financing to Tunisian banks, US$ 1.54 million for small and medium sized exporters across technical assistance for the Micro and Canada within their SME working capital SME/SMI integrated programme in Algeria. programme. The aim of the programme is The IDB also approved a range of import financing the pre-shipment costs of small trade financing operations: US$ 25 million exporters, permitting to expand trading for the Bangladeshi ministry of energy and opportunities, especially with Latin America mineral resources to import crude and and the Caribbean.♦ (Trade Finance, February 2003) refined petroleum products from member countries, US$ 15 million for the Bank of Kuwait and US$ 15 million for the Iranian ♦ US Ex-Im’s support for medium sized road and transport ministry to buy spare activities parts for equipment. Finally, export financing schemes have been improved, Cover continues to be extended to SME’s including US$ 13 million for the export of by US Ex-Im to a wide range of countries for smaller deals. On behalf of Allfirst Bank Lebanese telephone cabling to Algeria.♦ (International Trade Finance, February 2003) of Baltimore a US$ 2.5 million medium-term policy has been approved in Turkey: the ♦ Ex-Im Bank India and EDBI signed an cover is for the US$ 2.7 million sale of two- agreement form printing machines. For the same bank Ex-Im has supplied medium term insurance Ex-Im Bank of India signed an agreement to support the US$ 2.5 million sale of with the Export Development Bank of Iran construction materials and equipment for (EDBI). EDBI will provide importers of the building of a hardware store in Jamaica. investment goods and services from India Furthermore in Latin America three projects with foreign exchange facilities. Importers put forward by PNC Bank have been may apply for a maximum credit of 85% of authorised. In particular in Mexico Ex-Im the value of the imports and up to 100% of has authorised a US$ 1.3 million medium- export insurance premiums from Ex-Im term repetitive sales/multiple shipments Bank India. Bank Melli, Bank Mellat, Bank insurance policy for US$ 1.5 in US export of Saderat, Bank Sepah, Bank Tejarat and capital goods to Facileasing. Ex-Im will Bank of Industry & Mines are some of the contribute US$ 2 million medium-term Iranian banks that participate in the insurance for the cover for four small US businesses regarding the supply of two agreement.♦ (International Trade Finance, March 2003) shrimp vessels and cold store in Cameroon. Nigeria saw a commitment of US$ 15.8 million long-term cover for a US$ 16.5 ♦ US Ex-Im towards Africa million export of microwave The US Ex-Im announced new master telecommunication equipment to Econet guarantee agreements with the Standard Wireless Nigeria. In the Philippines, Ex-Im Bank of South Africa and the Bank of Africa. is providing US$ 1.95 million medium-term The agreements will improve the African cover for sales of ground support aviation networks of US Ex-Im. US Ex-Im has equipment by Lockheed Martin Corporation.♦ (Trade Finance, March 2003) Press Abstracts n° 1 & 2/2003 Page 12
  • 13. International Trade Centre UNCTAD/WTO Trade Finance Programme ♦ Use of Web in the tourist sector ♦ SACE increases its short-term business According to the research realised by the SACE, Italy’s official ECA, is planning to Department for Culture Media and Sport increase volumes of short term business, in and UK Online for Business’ E-commerce particular in non-OECD countries, where Impact Study, SMEs in the tourist sector the presence of private sector Italian are adopting the Web largely for improving insurers is modest. SACE’s portfolio of business performance: 80% offer a Web short-term risks amounted to € 99 million in site and 25% are able to offer booking and 2000, and rose to € 146 million in 2001 and payment through e-mail or the Web. € 264 million in 2002. SACE aims to offer a However, where digital booking is available, new policy to SMEs by the end of May many providers do not exploit the customer 2003, which will allow small exporters to relationship management of the media. In insure short-term export transactions to spite of these limitations two third of the different countries.♦ respondents affirm that online has affected (International Trade Finance, April 2003) positively their profitability and 40% of them said it had increased profit by more than ♦ New opportunities for business with 10%. sub-sovereign for Canadian companies The research sustains that it is necessary to keep on promoting this practice, so that Export Development Canada (EDC) and UK online and the English Tourism Council Standard & Poor’s Rating Services (S&P) have created a case study CD-ROM “Go for have concluded an agreement that offers IT, the Net benefits for Tourism”. new opportunities to Canadian companies E-business selling goods or services to regional or THE E-ADOPTION LADDER municipal governments around the world. S&P will provide EDC with a transaction Order progress/online sales 40 support specific credit assessment of potential 35 regional or municipal governments Online payment interested in borrowing from EDC, but not Percentage of tourism SMEs (%) 30 currently rated by a major credit rating Online ordering 25 agency. This will permit EDC to assess the 20 risks on specific potential transactions. EDC Online marketing 15 will take advantage of this agreement to support transactions valued at up to US$ 5 10 Online messaging million, focusing in particular on smaller 5 enterprises.♦ 0 Web presence through other (EDC Newsletter, February 2003) firms Source: PricewaterhouseCoopers ♦ New portal for Indian SMEs (New Media Age, March 2003) Federation of Micro, Small & Medium Enterprises (FISME) has developed a new ♦ Coface and Natexis for SMEs portal, SME Network, for promoting SMEs products by Central, States and District In France, local small business exposures level of India. The service is free to foreign and customer relationships are only been companies that are looking for business explored gradually. Coface is trying to partners in India. But a membership fee will develop services for small companies in be levied for SMEs that want to register its regional centres, by working with its parent products on the network.♦ group Natexis Banques Populaires, whose (ZDH Partnership News, January 2003) local member banks around France have a consistent customer base. Coface is starting at the moment with information services. At present all insurers face dilemmas in dealing with the SME market. They have tried to develop specialist services to answer customers requirements, but the results have been so far relatively weak, in terms of profitability.♦ (International Trade Finance, May 2003) Press Abstracts n° 1 & 2/2003 Page 13
  • 14. International Trade Centre UNCTAD/WTO Trade Finance Programme ♦ European Commission has proposed a new definition for SMEs in EU countries Micro-enterprises will be defined as enterprises with a maximum of 10 employees, annual turnover of less than € 1 million, and total assets of less than € 1.4 million. Small enterprises will be enterprises with 50 or less employees, annual turnover of less than € 9 million, and total assets of less than € 10 million. Medium-sized enterprise will be defined as enterprises with 250 or less employees, annual turnover of less than € 50 million, and total assets of less than € 43 million.♦ (ZDH Partnership News, January 2003) ♦ New debt collection line by Gerling NCM The diversified credit insurer Gerling NCM launched a new debt collection hotline. The beneficiaries will be companies that need help and advice on better debt collection procedures. Moreover in June it provided a free hotline number in response to requests from SME customers at the Smarter Business Expo.♦ (International Trade Finance, June 2003) ♦ JSE works for attracting SMEs The Johannesburg Securities Exchange has announced plans to launch Africa’s first Alternative Exchange (AltX) in October. This will have lower listing requirements to attract small and medium-sized groups and to promote black-owned companies. The AltX aims to improve access to capital for companies that need sources of finance and to boost black-owned companies, mainly of small sizes. Even start-up enterprises can apply, since companies do not need a profit history to list on AltX, but a share capital of R2m (US$ 250,000) is required.♦ (Financial Times, 20th June 2003) Press Abstracts n° 1 & 2/2003 Page 14
  • 15. International Trade Centre UNCTAD/WTO Trade Finance Programme NEWS FROM THE REGIONS MIDDLE-EAST AND ASIA ♦ China: ABN Amro and StanChart ♦ Iran: ECGD contract for NPC arrangers for loan facility for Sinochem The UK’s ECGD is backing a supplier credit A three year, US$ 80 million dollar financing finance facility for a carbon monoxide plant for China National Chemicals Import-Export designed for export to Iran’s Fanavaran Corporation (Sinochem), the China’s largest Petrochemical Company. The present import and export company is to be project of US$ 38.3 million represents one provided by mandated arrangers Standard of the first ECGD’s deals in Iran for the last Chartered (StanChart) and ABN AMRO. 20 years.♦ The loan facility has been provided for (International Trade Finance, June 2003) Sinochem America Capital Group and guaranteed by Sinochem.♦ ♦ Pre-export finance transaction for (Trade Finance, February 2003) Shanxi Guanlu ♦ China: SG underwrites syndication for Glencore International and few other CAO international banks (BNP Paribas, Standard Chartered bank, Standard bank), led by Société Générale (SG) is in the process of facility agent Fortis bank, have structured a underwriting a syndication for a five-years, medium term pre-export finance transaction US$ 100 million loan to China Aviation Oil for an aluminium producing enterprise in (CAO), the company which imports jet fuel China. The landmark transaction is one of for China’s civil aviation industry. Banks will the first medium term transactions using receive a margin of 80bp over Libor, with such trade financing in China. The management fees set at 40bp.♦ operation will provide US$ 30 million (Trade Finance, February 2003) financing for Shanxi Guanlu, the largest non-ferrous metals smelting and metals ♦ Armenia: EBRD provides a working processing processing enterprise in the capital facility to ACP Chinese province of Shanxi. By entering into this transaction Fortis Bank and The EBRD has extended a US$ 3 million Glencore International have obtained what working capital facility to Armenian Copper only very few banks have managed to get Programme (ACP), a company operating so far, as the bulk of financing requirement the copper smelter. The finance will be are still satisfied by local banks with access used to increase the production of copper. to cheap funds from the Chinese Moreover the EBRD is supporting the Government.♦ Armenian financial sector extending a (Trade Finance, April 2003) US$ 1 million loan to Anelik Bank to sustain SMEs, following an agreement with ♦ China: new research company opens Armeconombank in 2000. EBRD is extending a US$ 500,000 guarantee facility China Company Research Services, the to the bank within the EBRD regional trade first company that combines local Chinese facilitation programme for the promotion of research reports (from Beijing-based China foreign trade with central and eastern Business Information Services) with UK Europe and the CIS. The programme is based research analysis has just opened. supported by the governments of This represents a useful step in providing Switzerland, the Netherlands, Norway, accurate information on Chinese companies Austria and Germany.♦ that have been so far a serious hindrance (International Trade Finance, March 2003) affecting financing for private and medium- sized companies in the country.♦ (International Trade Finance, May 2003) Press Abstracts n° 1 & 2/2003 Page 15
  • 16. International Trade Centre UNCTAD/WTO Trade Finance Programme ♦ Indonesia: ECAs push for new ♦ Iran: significant market for Italian ECA safeguards in APP debt restructuring The Italian ECA (SACE) affirms Iran A group of nine export credit agencies represents its biggest market in the Middle involved in the restructuring of US$ 6.7 East and North Africa, offering interesting billion of debt owed by the Indonesian units opportunities in hydrocarbons development. of Asia Pulp & Paper (APP) is pushing for Similar condition and opportunities come new safeguards that would help protect from Algeria, where Italian exporters also against any further default. include several SMEs. SACE’s chief The nine ECAs are owed some US$ 700 economist revealed also that the decision to million. They are planning to create a extend new cover to Libya has been trading company that would control and already approved, even if the country is monitor the cash flow of the four Indonesian classified category seven by the OECD and units.♦ the price of insurance remained high.♦ (International Trade Finance, February 2003) (International Trade Finance, May 2003) ♦ Indonesia: the most requested in the ♦ Bahrain: Multi-sourcing for Alba’s Asian risk market expansion project According to Trade Vest Risk Services, one Norton Rose is advising on the US$ 1.5 of South-east Asia’s newer trade insurance billion multi-sourcing financing for the brokers, Indonesia is the main interest in Aluminium Bahrain Line 5 expansion the Asian risk markets. 60% - 70% of project. This should permit the company to requests handled by the company in consolidate its position as one of the largest Singapore, are directed to the country, producers of aluminium. The present including requests for performance risk in transaction represents the largest ever the public and private sector.♦ financing in the country.♦ (International Trade Finance, February 2003) (Trade Finance, May 2003) ♦ Pakistan: guarantees on documentary ♦ Iran: EGFI – SFD accord credits The Export Guarantee Fund of Iran (EGFI) The IFC and ABN Amro signed an US$ 80 and the Saudi Fund for Development (SFD) million facility to fund guarantees on signed an export insurance protocol, which documentary credits from commercial states that both institutions will provide banks. The participating banks are ABN insurance cover for export to the other Amro Pakistan, Askari Bank, Metropolitan country. The deal also envisages the Bank, Union Bank and Soneri Bank. IFC will sharing of information and expertise.♦ fund half of each transaction. The (International Trade Finance, March 2003) guarantees will support importers, giving better access to letters of credit ♦ Iran: ECGD towards other sectors confirmations.♦ (International Trade Finance, February 2003) A team of officials from the Export Credits Guarantee Department visited the Iran ♦ Philippines: DBP opens SME service Petrochemicals Forum of 18-19 May to called Instant Working Capital promote more generous terms of support from the export credit agency. This proves The Development Bank of the Philippines the intensions of ECGD to improve its (DBP) has assigned US$ 95 million for its relations with the Islamic Republic, in fact new factoring facility, Instant Working the department is seeking to extend its Capital, that should represent for SMEs a reach beyond the booming petrochemicals source of funds at lower interest rates by sector, to other sectors such as oil, gas, buying their trade receivables without transport, water, power and requiring any collateral. Another function of telecommunications.♦ the bank will be assisting SMEs in sales (International Trade Finance, June 2003) accounting work, credit evaluation and collection activities.♦ (International Trade Finance, May 2003) Press Abstracts n° 1 & 2/2003 Page 16
  • 17. International Trade Centre UNCTAD/WTO Trade Finance Programme ♦ Iraq: focus for the Italian ECA EASTERN AND WESTERN EUROPE Italy’s export credit agency SACE has ♦ Russia and Ukraine: EBRD loan for restored cover with an initial € 1 million limit agriculture and the CIPE Inter-ministerial Committee on Economic Programming also approved a The EBRD is making a US$ 15 million move to make Iraq eligible for Italy’s revolving credit facility available to the Mediterranean Finance Fund backing. Russian and Ukrainian subsidiaries of Moreover this allows Italian firms to buy up Nidera Handelscompagnie, in order to to 49 % of the capital in Iraqi corporations.♦ support grains and oilseeds trading. The (International Trade Finance, June 2003) project is coherent on one side with the EBRD’s decision to boost lending against ♦ Iran: deal between EDBI and the agricultural commodities in Ukraine and Croatian BRD Russia through the introduction of legislation that permits warehouse The Export Guarantee Fund of Iran signed depository receipts to be used as collateral a deal with the Croatian Bank for for loans. On the other side is it in line with Reconstruction and Development to extend the Nidera’s growing presence in Eastern credit cover to Iranian and Croatian Europe, whose agricultural market are importers. The deal offers reinsurance considered of great potential by the value credit in accordance with the company.♦ agreements made between the two (Trade Finance, March 2003) countries.♦ (International Trade Finance, June 2003) ♦ COFACE towards the Polish market ♦ India: ECGD expands branch network COFACE is setting up its own insurance operation in Poland. The new unit will The Export Credit Guarantee Corporation of concentrate mainly on the larger company India (ECGC) will open new branches in 10 market, while leaving small firms business centres this year, including Karur, to the local underwriter with whom Coface Pondicherry, Jodhpur and Shillong. ECGC has a longstanding co-operation is also considering appointing banks as its agreement. This is coherent with the corporate agents. Furthermore it had cut COFACE strategy, developed during the from over 50 to 8 the list of countries for 1990’s, of building links into the emerging which it offered restricted cover.♦ economies. Furthermore COFACE is using (International Trade Finance, June 2003) information provision to approach other markets, such as the domestic French ♦ Kazakhstan: DB and RZB arrangers for a scene and West Africa.♦ facility to Halyk (International Trade Finance, May 2003) Standard & Poor’s raised its rating as a ♦ Russia: SACE-Citigroup bilateral loan for consequence of the strong economic MMK growth and the government’s stable financial position. Despite these Russia’s largest steel company improvements, problems like the lack of Magnitogorsk Metallurgical Kombinat transparency in public administration and (MMK) is importing manufacturing the need for further structural reforms, equipment from Techint to revamp one of remain. Other positive news concerns the its cold rolling mills in Magnitorsk, in a US$ 100 million syndicated trade finance transaction closed by the arranger Citigroup facility for Halyk Bank. Deutsche Bank and that is lending US$ 32 million. SACE, the RZB act as arrangers. Before general Italian ECA, will take part with a 95% syndication they will seek an arranging guarantee, while Citigroup fields the other group among Halyk’s Key relationship 5%. MMK ranks among the world’s 20 banks. The facility will finance specific trade largest steel making companies and is the contracts for the bank’s customers.♦ exclusive supplier of high quality cold rolled (International Trade Finance, June 2003) band and tin plate in Russia. The company has a long-standing relationship with Citibank Moscow.♦ (Trade Finance, May 2003) Press Abstracts n° 1 & 2/2003 Page 17
  • 18. International Trade Centre UNCTAD/WTO Trade Finance Programme ♦ Hungary: support for export to Serbia moment, since the authorities are working and Montenegro to diversify export heavily slewed towards the minerals and hydrocarbons sectors into The Hungarian Export-Import Bank manufacturing and industrial business.♦ approved a € 5 million line of credit to (International Trade Finance, March 2003) Serbia and Montenegro’s Vojvodjanska Banka to support farm product export to ♦ Romania: EBRD’s loan for SMEs Serbia and Montenegro. The first tranche of € 2 million will have maximum two years The European bank for Reconstruction and tenure, while the second part of the loan will Development lent US$ 5 million to Banca be for up to five years.♦ Romaneasca for sustaining the (International Trade finance, February 2003) development of SMEs. The loan will be used for on-lending to SMEs, offering two ♦ Czech Republic: EGAP looks towards year loan of up to US$ 10,000 or three year SMEs loans of up to US$ 50,000. The EBRD will co-ordinate the programme with the The Export Guarantee and Insurance German-Romanian Fund and German Company (EGAP) plans to concentrate on development agency KfW.♦ backing more SMEs in 2003, also through (International Trade Finance, June 2003) the cooperation with Coface, changing direction in comparison to last year, when ♦ Poland: KUKE concedes credit for only 18% of commercial insurance were export of ships used for small companies. EGAP insured US$ 2.38 billion in loans in 2002, of which The country’s ECA announced credit US$ 1.80 billion were commercial loans and guarantees for the export of three ships. 16.3% with state support.♦ According to the Polish Press Agency it (International Trade Finance, February 2003) would finance the contracts for Stocznia Szczecinska Nowa shipyard with credits of ♦ Bulgaria: increasing the BEIA US$ 36.7 million.♦ (International Trade Finance, June 2003) The State allocated US$ 11.8 million for capital expansion of the Bulgarian Export Insurance Agency to support local companies seeking contracts in the AFRICA reconstruction of Iraq.♦ ♦ Angola: large facility arranged for (International Trade Finance, May 2003) Sonangol ♦ Russia: VTB – AFK Sistema partnership The government of Angola should shortly announce who has been mandated to Vneshtorgbank (VTB) signed a strategic arrange a US$ 1.5 billion seven-year facility partnership agreement for 2003 with AFK for Sociedade Nacional Combustiveis de Sistema for organizing export and import Angola (Sonangol), which represents one of financing for Sistema and its subsidiaries, the largest trade finance facilities ever with deals in electronics, tourism, arranged globally. Sonangol usually makes construction and telecommunications multiple visits to the syndicated loan market anticipated. VTB has already provided but if the company secures the US$ 1.5 Sistema with a US$ 100 million loan for billion in one go, the facility will aim to roll construction projects and to offer banking up the borrower’s next few facilities and will services.♦ also be used for refinancing existing debt.♦ (International Trade Finance, February 2003) (Trade Finance, February 2003) ♦ Russia: BU sustains creation of ECA ♦ Africa: WB supports the ATI Berne Union (BU) will support the Russian World Bank approval for the underwriting of Government for the creation of a national public sector payment risk has finally export credit agency (ECA). The creation of cleared the way for the African Trade an ECA is considered by the Russian Insurance Agency (ATI) to start signing up Government as an important element for business. the export promotion, in particular at the Press Abstracts n° 1 & 2/2003 Page 18
  • 19. International Trade Centre UNCTAD/WTO Trade Finance Programme Even if no deals have been underwritten ♦ Ethiopia: Export Guarantee Scheme yet, a number of promising transactions are under investigation. ATI currently has eight The National Bank of Ethiopia (NBE) has members (Burundi, Kenya, Malawi, clarified the terms for its export guarantee Rwanda, Tanzania, Uganda, and Zambia), scheme. With the previous directives some but is planning also to expand into some exporters had problems with pre-shipment new markets: talks with Ethiopia and Eritrea export guarantees, when there were doubts are well advanced. Djibouti, Zimbabwe and whether a purchaser qualified. Now the Sudan have expressed interest while there purchasing from exporters can open have been discussions with Senegal, through letters of credit with exporters Ghana and Nigeria. Dakar seems to be the through their own local banks and the NBE most likely site for a new office, partly to will be able to issue an export guarantee.♦ dispel any notion that ATI is just an (International Trade Finance, February 2003) Anglophone, East Africa institution.♦ (International Trade Finance, May 2003) ♦ Cameroon: US Ex-Im supports sales of two vessels ♦ Algeria: Citigroup supports Algerian deal New York’s RZB Financial LLC, for the transaction with Douala-based Neptune, A complex project financing for the Algerian regarding the sale of two shrimp vessels, Cement Company (ACC), the first privately cold stores and blast freezers, has owned company in the cement sector of the requested a US$ 2 million comprehensive country, had its first draw down. Part of the medium term policy, brokered by Penn transaction will support the export contract International. US Ex-Im Bank agreed to of US$ 128 million, which will see Danish insure the transaction, which includes as F.L. Smidth (FLS) supply ACC with suppliers Trans Atlantic Corp, W&B machinery, instruments, civil construction Services Company, Tommie Vaughn Ford, drawing and steel structures. Citigroup is Cold Storage Construction Services and the only international bank involved in the Ocean Marine. ♦ transaction, taking on a multiple role as (International Trade Finance, March 2003) financial advisor, sole arranger for EIB guarantees and local bank syndicate, inter- ♦ Nigeria: Ex-Im for exports of telecoms creditors agent, security agent, local lender and EIB guarantor. For the bank this US Ex-Im Bank approved guarantees to represents an important transaction back US$ 1.2 million in exports of because it covers a notable role in Algeria telecommunications equipment. The Ex-Im and has been one of the few banks Bank medium term guarantee is for committed to a presence in the country US$ 992, 451. Marina International Bank throughout the 1990’s.♦ Limited of Lagos is buying the equipment (Trade Finance, May 2003) from ViaSat Inc for its sub-borrower Sub- Urban Telecoms Limited, which will lease it ♦ Africa: France keeps on with medium on to MTN Nigeria Communications term cover Limited.♦ (International Trade Finance, March 2003) COFACE and the Finance Ministry’s Direction des Relations Economiques Extérieures (DREE) re-state that France is still open for medium term business in LATIN AMERICA AND THE Africa. The French position is important in CARIBBEAN particular taking in consideration that many other export credit insurers are stopping to ♦ Mexico: US exporters find rich harvest cover medium term risks south of the Sahara, because of the political instability Ex-Im is sustaining several other exports and the deteriorated economic conditions.♦ towards the Mexican market. It is (International Trade Finance, February 2003) intervening for supporting sales of industrial equipment for commercial rental use by Case Construction Equipment, financed by PNC Bank of Pittsburgh. Press Abstracts n° 1 & 2/2003 Page 19
  • 20. International Trade Centre UNCTAD/WTO Trade Finance Programme The buyer is Megarent Equipment of ♦ Bolivia: The IADB supports a trade Merida, with the comprehensive medium- programme term insurance policy for the bank amounting to US$ 2.5 million. Further The IADB signed a soft-loan agreement Mexico’s Agropecuaria Barobampo in (US$ 5 million) for a programme for backing Sinaloa is buying hog feeding, breeding and the competitiveness of goods and services watering instrument from Poultry and by modernising and strengthening local Industrial Suppliers of Miami, with funding institutions, stimulating and diversifying from Sun Trust Bank of Miami. The trade, improving trade policy and technical transaction is covered with an Ex-Im capacity for international negotiations.♦ US$ 1.1 million comprehensive medium- (International Trade Finance, February 2003) term insurance policy.♦ (Trade Finance, April 2003) ♦ Brazil: IFC and IADB syndication for Brandesco ♦ Brazil: IFC programme for improving financial liquidity The International Finance Corporation and the Inter-American Development Bank will The International Finance Corporation (IFC) arrange in an international syndication a has provided medium term trade credit lines loan of US$ 150 million for supporting to two major commercial banks in Brazil, Brandesco in export financing.♦ coherently with its purpose of improving (International Trade Finance, February 2003) trade finance liquidity for companies of the country. IFC has recently closed a US$ 100 ♦ Jamaica: support to IA from US Ex-Im million loan to Banco BBA Creditanstalt and teamed up with the Inter-American The US Ex-Im Bank approved a US$ 2.2 Development Bank (IADB) for a US$ 150 million insurance policy to sustain exports million loan to Banco Bradesco. These new by Impex Associates (IA) to Phil’s facilities are intended to change the Incorporated. The sale concerns negative trend of the availability of trade construction equipment and materials and credit lines to Brazil during the past year, as the total amount is US$ 2.5 million.♦ many creditors cut back their lending (International Trade Finance, April 2003) exposure: according to the Brazilian Central Bank the volume of eternal trade credit lines ♦ Venezuela: US Ex-Im stops financing slumped from some US$ 22 billion in late 2001 to US$ 16 billion in October 2002.♦ US Ex-Im Bank has decided to suspend all (International Trade Finance, February 2003) new credits and loan guarantees for the country, although it might make an ♦ Chile: working capital to ENAMI for exception for state oil company Petroleos American and European exports de Venezuela. The reason of this decision is the problematic political and economic Chile’s Empresa Nacional de Mineria situation of the country.♦ (ENAMI) has secured a US$ 70 million (International Trade finance, May 2003) syndicated deal secured against its future minerals exports. The deal of one year will ♦ Brazil: granting from IADB to Brazilian provide working capital for the state-owned Banks ENAMI’s sale of copper, gold and silver in America and Europe. Eight European and The Inter-American Development Bank Latin American lenders participated in the (IADB) has granted US$ 500 million in ENAMI transaction. An extension of a export credits to Brazil in 2003, that US$ 40 million loan facility tapped by represent about half of the total export ENAMI in December 2001. The deal was credits planned by the agency this year. An lead arranged by Deutsche Bank and priced export credit of US$ 180 million has been at 87.5 basis points over Libor, plus fees.♦ granted to Bradesco. IADB is negotiating (International Trade Finance, February 2003) the remainder with two other Brazilian banks.♦ (International Trade Finance, June 2003) Press Abstracts n° 1 & 2/2003 Page 20
  • 21. International Trade Centre UNCTAD/WTO Trade Finance Programme NEWS ON ITC’S TRADE FINANCE PROGRAMME TANZANIA The newly created Centre for International Business Development Services (CIBDS) and ITC organized a two-day Round-table on Access to Finance in Dar es Salaam on 30 and 31 January. Financial experts from commercial banks and business associations met “eye-to-eye” in a structured manner to identify systematically all the concrete problems faced by entrepreneurs in accessing finance for their first export orders. The methodology used for the Round-table, tested for the first time in the Philippines and Tanzania, was found simple, relevant and particularly effective not only in addressing correctly the issues but also in selecting the most practical ways to improve the offer of financial services in Tanzania. KINGDOM of BHUTAN & NEPAL An ITC mission in Bhutan and Nepal was carried out from 28 March to 13 April 2003 to examine in details the trade finance infrastructure of these two countries with a view to consider what schemes should be introduced to support diversification and the development of exporting SMEs. In-depth consultations with the counterparts organizations and representatives of the finance sector allowed for a prioritisation of possible solutions in each countries. ITC will therefore formulate recommendations to the Kingdom of Bhutan to analyse the setting up of a Guarantee Fund for SMES that will enable enterprises located anywhere in this mountainous country to access credit by providing an alternative to real estate or land mortgages that are not attractive to banks. In Nepal, a feasibility study for the setting up of a Matching Grant scheme was validated and will be the object of further consideration by the World bank under the Integrated Framework (IF) and/or by the Asian Development Bank under a new trade support initiative. ZAMBIA In Livingstone, Zambia, the Annual Conference of African Insurance Organisation (AIO) took place from 26 to 31 May 2003. The creation of a specific panel on Credit Insurance was adopted at the conference. ITC supported this initiative that will provide the missing link between insurance and credit insurance. ITC also illustrated its training efforts in the area of Credit Insurance and Guarantees and its readiness to contribute to strengthen the capacity of new African players in this field. CAMBODIA Adaptation of a guide & seminar … The two-day workshop in Phnom Penh from 14 to 16 July 2003 focused on “Export Marketing, Financing, Purchasing and Supply Management Techniques” merged for the first time procurement and finance. The event drew more than 40 participants and was strongly supported by the Ministry of Commerce and officially opened by His Excellency, Sok Siphuana, Secretary of State. The workshop identified the main weaknesses of the banking system in Cambodia and a few concrete proposals were made for improvements in this area, including the possibility of an Export Fund. Finally, three banks present to the workshop offered to assist the University of Cambodia, ITC counterpart organisation in the preparation of a national version of the guide How to Approach Banks. Press Abstracts n° 1 & 2/2003 Page 21
  • 22. International Trade Centre UNCTAD/WTO Trade Finance Programme OECD EXPORT CREDIT RATES For up-to-date information on ITC’s programme and related events, please consult the Trade Finance sub-site at http://www.intracen.org. Minimum interest rates for officially supported export credits (%) (For latest applicable interest rates, please refer to OECD’s website at http://www.oecd.org/ech/index_4.htm) CURRENCY OF COUNTRY 15 MAY – 14 JUN 15 APR – 14 MAY Australian Dollar 6.75 7.05 Canadian Dollar < 5 years 5.39 5.39 5 to 8.5 years 6.09 6.1 > 8.5 years 6.4 6.43 Czech Koruna 5.75 5.9 Danish Krone < 5 years 5.72 5.94 5 to 8.5 years 5.99 6.15 > 8.5 years 6.22 6.32 Euro < 5 years 5.46 5.5 5 to 8.5 years 5.81 5.86 > 8.5 years 6.01 6.06 Hungarian florin 8.62 8.59 Japanese Yen 1.9 2.1 Korean Won 8.15 8.07 New Zealand Dollar 7.58 7.78 Norwegian Krone 7.9 7.66 Swedish Krona < 5 years 6.3 6.27 5 to 8.5 years 6.46 6.46 > 8.5 years 6.56 6.55 Swiss Franc 4.04 4.23 UK Pound Sterling < 5 years 6.06 6.1 5 to 8.5 years 6.25 6.27 > 8.5 years 6.29 6.29 US Dollar < 5 years 5.01 5.14 5 to 8.5 years 5.65 5.74 > 8.5 years 6.02 6.14 These rates are published monthly by OECD, normally around the middle of each month. A premium of 0.2 per cent is to be added to the credit rates when fixing at bid. Interest rates may not be fixed for longer than 120 days. A CIRR (Commercial Interest Reference Rate) is fixed for each currency, including the Euro, that is used by participants in the Consensus (Australia, Austria, Belgium, Canada, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States). CIRRs are subject to change on the 15thof each month. Press Abstracts n° 1 & 2/2003 Page 22
  • 23. International Trade Centre UNCTAD/WTO Trade Finance Programme ITC PUBLICATIONS ON TRADE FINANCE The ITC offers several publications on trade finance, which are free in limited numbers for institutions and firms in developing countries and economies in transition. FINANCEMENTS ET GARANTIES DANS LE COMMERCE INTERNATIONAL : GUIDE JURIDIQUE 394 pages, French, Spanish, 2002 (English available later in the year 2003) This publication deals with the juridical aspects of the main financial instruments for international trade, and provides models for the most commonly used clauses in finance and payment contracts. A glossary is also available. RULES OF ORIGIN IN EXPORT CREDIT INSURANCE 56 pages, English, 2000 This publication focuses on the impact of product and service origins on export credit insurance. It provides a brief review of export credit insurance, and explains links between the two fields. There is also a short informative section on the impact of the Euro on both rules of origin and export credit insurance. TRADE IN EURO: A GUIDE FOR ENTERPRISES AND TRADE SUPPORT AGENCIES IN DEVELOPING AND TRANSITION COUNTRIES 95 pages, English, French, 2000 This guide analyses the implications of the introduction of the Euro for small and medium-sized enterprises in developing countries. It describes the economic, commercial and financial environment resulting from the creation of the European Monetary Union (EMU), and its impact on non-European countries. Furthermore, the guide examines the practical consequences of the introduction of the Euro for enterprises outside the Eurozone, and outlines adjustments to be considered by these countries. It describes the main steps leading to full implementation of the Euro and gives a general overview of the EMU. THE GLOSSARY OF TRADE FINANCE TERMS CD-ROM, English, French, Spanish, 2000 A trilingual glossary on Trade Finance terms, covering terms and instruments used in the financing of international trade. This glossary is available on CD-ROM and has been designed as a dynamic tool capable of evolving with changes and different needs. HOW TO EVALUATE TRADE CREDIT REQUESTS: A GUIDE FOR BANKERS AND THE SCORECARD 116 pages, English, French, Spanish, 1999 A guide to the assessment of requests for trade credit from enterprises in developing and transition countries, this publication deals with basic lending facilities and practices involved in commercial transactions, and the practical aspects of assessing applications for trade credit by exporters and importers. It also outlines ways in which trade credit transactions can be structured and monitored before and after disbursement. Press Abstracts n° 1 & 2/2003 Page 23
  • 24. International Trade Centre UNCTAD/WTO Trade Finance Programme EXPORT CREDIT INSURANCE AND GUARANTEE SCHEMES: A PRACTICAL GUIDE FOR DEVELOPING AND TRANSITION ECONOMIES 231 pages, English French, Spanish, 1998 The aim of this publication is to provide guidelines for decision-makers and bankers concerning the setting-up of credit insurance schemes and institutions. It includes an analysis of the needs and constraints of export credit insurance, and outlines the typical organisational structure of an export credit agency, the legal infrastructure and the range of policies offered. Supporting documentation, risk management techniques and claim and recovery procedures are also examined. HOW TO APPROACH BANKS: A GUIDE TO SHORT-TERM TRADE CREDIT 89 pages, English, French and Spanish, 1997 This guide aims at networking national institutions for adaptation and dissemination in their respective countries, in accordance with the guidelines covered in Part Two. It addresses assessing financial needs, payment methods and related credit facilities for trade transactions; and it goes on to review types of financial institutions, providing hints on how to approach them, how to prepare a business plan and how to negotiate short-term credit. Appendices contain samples of relevant forms, trade documents and selected related ITC publications. IMPROVING THE FINANCING OF EXPORTS FROM EASTERN EUROPE 75 pages, English, 1997 Export financing in Central and Eastern Europe and the Baltic States gives a good overview of current trade trends and developments in the region. This publication analyses the role of trade financing services, export financing infrastructure and export financing needs in the countries under review. In addition, it outlines the main factors and procedures for setting up an export credit agency, and presents proposals for addressing and improving trade financing needs and constraints, as well as for strengthening export credit insurance agencies in the region. Annexes include details of EBRD Trade Facilitation Programs and other sources of technical assistance. THE FINANCING OF EXPORTS: A GUIDE FOR DEVELOPING AND TRANSITION ECONOMIES 110 pages, New Edition. French, Spanish, 1997 This guide reviews financial measures to promote exports; deals with the role of commercial banks and export credit agencies; addresses private-sector credit insurance; looks at finance targeted at the informal sector (micro-credits); and explains the Grameen Banking Approach (GBA). Experiments in providing micro-credits for exporters in selected developing countries are described. FINANCIAL MEANS AND SOURCES: A GUIDE TO FINANCING OF EXPORT PROJECTS 90 pages, English, French, Spanish, 1995 This manual focuses on the means and sources of export project financing and their implications for developing countries, as well as ways of determining a project’s optimal capital structure and ensuring liquidity. REHABILITATION FINANCE MANAGEMENT: GUIDELINES FOR BANKERS AND EXPORT- ORIENTED ENTERPRISES ON LEGAL ISSUES 68 pages, English, 1991 A monograph on legal practices and procedures available for the rehabilitation of export- oriented enterprises in developing countries, this guide discusses basic legal issues, various rehabilitation schemes and measures, and methods of liquidation. It gives existing legislation for rehabilitation in India, the Philippines, Singapore and the United Kingdom. Press Abstracts n° 1 & 2/2003 Page 24
  • 25. International Trade Centre UNCTAD/WTO Trade Finance Programme LIST OF ITC PUBLICATIONS ON TRADE FINANCE Title English French Spanish 1. Financements et Garanties dans le Commerce - - International 2. Rules of Origin in Export Credit Insurance - - 3. Trade in Euro: A Guide for Enterprises and Trade Support - Agencies in Developing and Transition Countries 4. How to Evaluate Trade Credit Requests: A Guide for Bankers and the Scorecard 5. Export Credit Insurance and Guarantee Schemes: A Practical Guide for Developing and Transition Economies 6. How to Approach Banks: A Guide to Short-term Trade Credit 7. Improving the Financing of Exports from Eastern Europe - - 8. The Financing of Exports: A Guide for Developing and - Transition Economies 9. Financial Means and Sources: A Guide to Financing of Export Projects 10. Rehabilitation Finance Management: Guidelines for - - Bankers and Export-Oriented Enterprises on Legal Issues To order the above publications: Please check the items of interest on the above list and send this, with a request on your business letterhead, to: Postal address: International Trade Centre Palais des Nations CH-1211 Geneva 10, Switzerland ITC publications are free in limited numbers for institutions and firms in developing countries and economies in transition. Most ITC publications exist in English, French and Spanish. The list with prices is also available on the Internet at: http://www.intracen.org Press Abstracts n° 1 & 2/2003 Page 25
  • 26. International Trade Centre UNCTAD/WTO Trade Finance Programme NATIONAL ADAPTATION OF ITC GUIDES HOW TO APPROACH BANKS IN ARMENIA 103 pages, Armenian, English, 2000 This guide, intended to facilitate access to credit for Armenian entrepreneurs and traders, was published in partnership with the Armenian Development Agency. To order kindly contact: Armenian Development Agency Attention: Marine Hovhannesyan E-mail: marine@ada.am HOW TO APPROACH BANKS IN BANGLADESH 216 pages, English, 2001 This publication was issued by the Bangladesh Bank in partnership with the ITC. To order kindly contact: Bangladesh Bank Attention: Habidullah Bahar E-mail: eabb@bangla.net HOW TO APPROACH BANKS IN BENIN 185 pages, French This guide was published by the Centre Béninois du Commerce Extérueur in partnership with the ITC. To order kindly contact : Centre Beninoise du Commerce Exterieur Attention: Christian Segbo E-mail: cbce@intnet.bj COMMENT APPROCHER LES BANQUES EN CÔTE D’IVOIRE 124 pages, French, 1999 This publication was issued by the Association pour la Promotion des Exportations de la Cote d’Ivoire as a part of the Programme in partnership with the ITC. To order kindly contact : Association pour la Promotion des Exportations de la Cote d’Ivoire Attention: Guy M’Bengue E-mail: APEX-CI@globeaccess.net COMO ACCEDER A LOS BANCOS EN CUBA 230 pages, Spanish, 2003 This publication was issued by Centro Para la Promoción des Exportationes de Cuba (CEPEC) and Central Bank of Cuba in partnership with the ITC. To order kindly contact: MINCEX Attention: Olena Navas Pérez E-mail: cepecdir@infocex.cu ileana@mincex.net Press Abstracts n° 1 & 2/2003 Page 26
  • 27. International Trade Centre UNCTAD/WTO Trade Finance Programme COMO ACCEDER A LOS BANCOS EN EL SALVADOR 100 pages, Spanish, 2001 This publication was issued in partnership with the Banco Multisectorial de Inversiones. To order kindly contact: Banco Multisectorial de Inversiones (BMI) Attention: Sonia Hernandez E-mail: sonia.hernandez@bmi.gob.sv HOW TO APPROACH BANKS IN ERITREA 105 pages, English, 2001 This guide for entrepreneurs in Eritrea was published by the Eritrean National Chamber of Commerce as a part of the “Mediterranean 2000” programme in partnership with the ITC. To order kindly contact: Eritrean National Chamber of Commerce Attention: Adam Tesfamariam or Mr Tekeste Agshedom E-mail: encc@eol.com.er HOW TO APPROACH BANKS IN ETHIOPIA 132 pages, English, 2001 This guide for entrepreneurs in Ethiopia was published by the Ethiopian Export Promotion Agency as a part of the “Mediterranean 2000” programme. To order kindly contact: The Ethiopian Export Promotion Agency, Attention: Tilaye Lemma E-mail: tpaddis.ebo@telecom.net.et or: addimela@hotmail.com or: t_lemma@yahoo.com HOW TO APPROACH BANKS IN INDIA 88 pages, English, 2002 This guide was published by the Small Industries Development Bank of India (SIDBI) in partnership with the ITC. To order kindly contact: Small Industries Development Bank of India (SIDBI) Web-Site: http://www.sidbi.com HOW TO APPROACH BANKS IN JORDAN 154 pages, Arabic, English, 2001 The guide for Jordanian entrepreneurs was published in 2001 in two languages by the Jordan Export Development and Commercial Centres Corporation in Jordan as part of the Mediterranean 2000 programme. To order kindly contact: Jordan Export Development Corporation (JEDCO) Attention: Khawla Al-Badri E-mail: khawla_b@jedco.gov.jo or: jedco@jedco.gov.jo Press Abstracts n° 1 & 2/2003 Page 27
  • 28. International Trade Centre UNCTAD/WTO Trade Finance Programme HOW TO APPROACH BANKS IN LEBANON 95 pages, Arabic, English and French, 2001 This guide for entrepreneurs in Lebanon was published in January 2001 in three languages by the Association of Banks in Lebanon, as part of the Mediterranean 2000 programme. To order kindly contact: Association des Banques du Liban (ABL) Attention: Fadoie Mansour E-mail: abl@abl.org.lb HOW TO APPROACH BANKS IN MAURITIUS 111 pages, English, 1999 This guide for Mauritian Entrepreneurs was published in partnership with the Mauritius Chamber of Commerce & Industry as a part of the ProCIP Programme. To order kindly contact: Mauritius Chamber of Commerce & Industry Attention: Jean Claude Montoccchio E-mail: mcci@intnet.mu HOW TO APPROACH BANKS IN PALESTINE 75 pages, English, 2002 This publication was issued by the Palestine Trade Center (Paltrade) in partnership with the ITC. To order kindly contact: Palestine Trade Center (Paltrade) E-mail: info@paltrade.org Web-site: http://www.paltrade.org HOW TO APPROACH BANKS IN THE PHILIPPINES 118 pages, English, 1999 This publication was issued by the Philippine Exporters Confederation as a part of the ProCIP Programme in partnership with the ITC. To order kindly contact: Philippine Exporters Confederation Attention: Jane T. Ramos E-mail: jramos@I-universeb.mozcom.com or: busdev@fastmail.I-next.net HOW TO APPROACH BANKS IN TANZANIA 57 pages, English, 2001 This publication was issued by the Board of External Trade in Dar es Sallam/Tanzania in partnership with the ITC. To order kindly contact: Board of External Trade (BET) Attention: Samuel Billy Mvingira E-mail: betis@intafrica.com Press Abstracts n° 1 & 2/2003 Page 28
  • 29. International Trade Centre UNCTAD/WTO Trade Finance Programme COMMENT APPROCHER LES BANQUES EN TUNISIE 70 pages, French, 2002 This publication was prepared within the frameworks of the Mediterranean 2000 Programme, in partnership with the Association Professionnelle Tunisienne des Banques et des Etablissements Financiers (APBT). To order kindly contact: Association Professionnelle Tunisienne des Banques et des Etablissements Financiers (APBT) Attention: A. Ben Ghezala E-mail: apbt@apbt.otg.tn HOW TO APPROACH BANKS IN UGANDA 66 pages, English, 2000 This publication was prepared within the frameworks of the Joint ITC/UNCTAD/WTO integrated Programme (JITAP) and the Mediterranean 2000 Programme, in partnership with the Uganda Export Promotion Board (UEPB). To order kindly contact: Uganda Export Promotion Board (UEPB) Attention: O.K. Matovu E-mail: uepc@starcom.co.ug COMMENT APPROCHER LES BANQUES EN VIÊTNAM 99 pages, French and Vietnamese, 1998 This publication was issued in partnership with the Vietnam Institute for Trade and the Centre Franco – Vietnamien de formation à la Gestion (CFVG) as a part of the ProCIP Programme. To order kindly contact: Vietnam Institute for Trade Attention: Nguyen Bao E-mail: vietra@hn.vnn.vn or: Centre Franco – Vietnamien de formation à la Gestion (CFVG) Attention: L. Schwab E-mail: cfvgcm@netnam2.org.vn or: cfvghcm@hcmc.netnam.vn HOW TO APPROACH BANKS IN ZAMBIA 169 pages, English, 1988 This guide was published in partnership with the Export Board of Zambia as a part of the ProCIP Programme. To order kindly contact: Export Board of Zambia Attention: J. Mwenya E-mail: ebzint@zamnet.zm In addition the following countries will become available in the course of the year 2003: HOW TO APPROACH BANKS IN ANGOLA Portuguese Camara de Comercio e Industria de Angola E-mail: ccia@ebonet.net Press Abstracts n° 1 & 2/2003 Page 29
  • 30. International Trade Centre UNCTAD/WTO Trade Finance Programme COMMENT APPROCHER LES BANQUES EN BURKINA FASO Office National du Commerce Extérieur (ONAC) E-mail: onac.crca@fasonet.bf Sékou Ba E-mail: sékou.ba@gov.bf Boundi Dijbril E-mail: boundidij@hotmail.com HOW TO APPROACH BANKS IN GHANA Ghana Export Promotion Council (GEPC) Emmanuel Addison Emmanuel Quao E-mail: gepc@ncscom.gh COMMENT APPROCHER LES BANQUES EN GUINÉE Centre International d’Echange et de Promotion des exportations (CIEPEX) E-mail: ciepex@afribone.net.gn Dioumessy Moussa HOW TO APPROACH BANKS IN KENYA Export Promotion Council (EPC) Peter W. Muthoka E-mail: manager@cbik.or.ke HOW TO APPROACH BANKS IN PAKISTAN Small and Medium Enterprise Development Authority (SMEDA) Hassanien Javed Janjua E-mail: janjua@smeda.org.pk Press Abstracts n° 1 & 2/2003 Page 30
  • 31. International Trade Centre UNCTAD/WTO Trade Finance Programme MAIN EXPORT CREDIT AGENCIES ALBANIA Agjensia Shqiptare E Garancise (ASHG) Rruga “Ismail Qemali”, P 34, Ap. 2, Tirana E-mail: aga@icc.al.eu.org, Tel: +355 42 470 48, Fax: +355 42 470 47 ALGERIA Compagnie Algérienne d’Assurance et de Garantie des Exportations (CAGEX) 151, route nationale – BP 116, Dely-Brahim, Algiers Tel: +213 21 91 00 48/51, Fax: +213 21 91 0044/5 ARGENTINA Asecuradora de Créditos y Garantías SA (ACG) 415, avda Corrientes, 4° CI 043 AAE, 1043 Buenos Aires E-mail: alopez@acg.com.ar, URL: http://www.acg.com.ar Tel: +54 11 4320 7232, Fax: +54 11 4320 7277/7224 Asecuradores de Cauciones SA (Compañía de Seguros) Paraguay 580 – Piso 5, 1057 Buenos Aires Tel: +54 11 318 3700/3713 Compañia Argentina de Seguros de Crédito a la Exportación SA (CASCE) Av. Corrientes 345, 7th Floor, 1043 Buenos Aires E-mail: info@casc.com.ar, URL: http://www.casc.com.ar Tel: +5411 4313-2986/-2683/-4303/-4362/-5071/-3048, Fax: +5411 4313-2919 AUSTRALIA Export Finance and Insurance Corporation (EFIC) Level 5, Export House 22 Pitt Street, Sydney, NSW 2000 E-mail: info@efic.gov.au, URL: http://www.efic.gov.au Tel: +61 2 9201 2111, Fax: +61 2 9251 3851 Gerling Australia Insurance Company Ltd. 44 Pitt Street – P.O. Box R300, Sydney NSW 2000 URL: http://www.gerling.com/credit/ Tel: +61 2 9251 8055, Fax: +61 2 9251 8083 QBE/TI In order to find the relevant office, please refer to the web-site: http://www.qbe.com.au/ heriff /contacts/index.html HIH Insurance 50 Bridge Street, Sydney NSW 2000 Tel: +61 2 9650 2000, Fax: +61 2 9650 2030 AUSTRIA COFACE Vienna Stubenring 24, 1010 Wien Tel: + 43 151554212, Fax: + 43 151554221 Oesterreichische Kontrollbank AG (OKB) Strauchgasse 1-3, A-1011 Wien E-mail: ehann@oekb.co.at, URL: http://www.oekb.co.at Tel: +43 222531270, Fax: +43 22253127693 PRISMA Kreditversicherungs AG Heiligenstädter Straße 201, A-1190 Wien E-mail: office@prisma-kredit.com Tel: +43 1 379 00 222, Fax: +43 1 379 00 208 Press Abstracts n° 1 & 2/2003 Page 31
  • 32. International Trade Centre UNCTAD/WTO Trade Finance Programme Gerling Konzern Speziale Kreditversicherungs AG Hietzinger Hauptstraße 41, A-1130 Wien E-mail: erich.korger@gerling.com Tel: +43 18 78 83-8 52, Fax: +43 18 78 83-65 BANGLADESH Central Bank of Bangladesh Motijheel Commercial Area, PO Box 325, Dhaka Tel: +88 0239360/250402, Fax: +88 02833394 Sadhara Bima Corporation Export Credit Guarantee Department (ECGD) 33 Dilkusha C/A, PO Box 607, Dhaka 1000 Tel: +88 0232070, Fax: +88 02863703 BARBADOS The Central Bank of Barbados Export Credit Insurance and Guarantee Scheme PO Box 1016, Barbados E-mail: cbb.libr@caribsurf.com, URL: www.bajan.com/cenbnet/welcome.html Tel: +18 094366870, Fax: +18 094373334 BELGIUM COBAC Rue Montoyer 15, B-1000 Brussels Tel: +32 22893111, Fax: +32 22893299 Ducroire/Delcredere International Partnerships Division Square de Meeus 40, B-1000 Bruxelles E-mail: k_boussart@ondd.be or delcredere@ondd.be or ducroire@ondd.be URL: http://www.ondd.be/ducroire Tel: +32 2 509 4383/4211, Fax: +32 2 513 5059 Gerling NAMUR Belgium Avenue Prince de Liège 74-78, B-5100 Namur URL: http://www.namur.be/brain/e4773.html Tel: +32 81324211, Fax: +32 81324301 Office National du Ducroire (OND) Square de Meeus 40, B-1040 Brussels URL: http://www.ducroire.be Tel: +32 25094211, Fax: +32 25135059 Institut de Réescompte et de Garantie (IRG) Rue du Commerce 78, B-1040 Brussels Tel: +32 25117330, Fax: +32 25143450 Les Assurances du Crédit (Namur) 32-34, avenue Prince de Liège, B-5100 Jambes BOLIVIA Creditinform International SA de Seguros (CIS) Edif. Credinform, Calle Potosi - Esq. Ayacucho 1220, Casilla 1724, La Plaz Tel: +591 2 31 5566, Fax: +591 2 39 1225 BOSNIA & Investment Guarantee Agency (IGA) HEREZEGOVINA Fra Andjela Zvizdovica 1, 71000 Sarajevo BRAZIL COFACE DO BRAZIL Av. Paulista, 2006, CEP 01310-200, Sao Paulo SP Tel: + 5112530778, Fax: + 5112531896 Press Abstracts n° 1 & 2/2003 Page 32
  • 33. International Trade Centre UNCTAD/WTO Trade Finance Programme Banco Nacional de Desenvolvimiento Economico e Social (BNDES) Ave. Republica do Chile 100/17°, 20139-900 Rio de Janeiro E-mail: finamex@bndes.gov.br, URL: http://www.bndes.gov.br/ Tel: +55 212777290, Fax: +55 212202615 Export Financing Program (PROEX) c/o Banco do Brasil – SBS Ed Seds 1, 14 Andar 7007-100 Brasilia Tel: +55 612252701, Fax: +55 612250563 Instituto de Resseguros do Brasil (IRB) Avenida Marechal Camara 171, 8 Andar, 20023-900 Rio de Janeiro Tel: +55 21 2720200, Fax: +55 21 2406261 Seguradora Brasileira de Fiancas, SA Avenida Paulista 1294 – 19° Andar, 01310 – 100 São Paulo Tel: +55 11 269 0300 BULGARIA Bulgarian Export Insurance Agency (BAEZ) 1, Sveta Nedelia Sq., Sofia 1000, Bulgaria E-mail: baez@baez-bg.com, URL: http://www.baez-bg.com Tel: +359 2 987 06 65, Fax: +359 2 987 96 64 CAMEROON Fonds d’Aide et de Garantie des Crédits aux PME (FOGAPE) PO Box 1591, Yaounde Tel: +23 7231690, Fax: +23 7233859 CANADA Export Development Corporation (EDC) 151 O’connor Street, Ottawa K1A 1K3 E-mail: exporta@edc4.edc.ca, URL: http://www.edc.ca Tel: +1 613 598.2500, Fax: +1 613 237.2690 Gerling Canada Global House, 480 University Avenue, Toronto, Ontario, Canada, M5G 1V6 E-mail: ahenke@gerling.ca Tel: (416) 598-4651, Fax: (416) 598-5478 CHILE Cia de Seguros de Crédito Continental Calle Huérfanos No. 8-35 – Piso 15, Santiago Tel: +56 26383233, Fax: +56 26397606 CHINA Gerling Credit Information Consulting (Shanghai) Co. Ltd. 17 Floor - Jin Mao Tower, 88 Shi Ji Avenue, Pu Dong New Area Shanghai 200121 E-mail: gkssh@sh163.net, URL: http://www.gerling.com/credit Tel: +86 21 5047 1700, Fax: +86 21 5047 1702 The Export-Import Bank of the Republic of China 75 Chongnei Street, Beijing 100005 Tel: +86 105132288, Fax: +86 105236641 People Insurance Company of China 2/F, Wing Building, Huicheng Commercial Center, 10 Xiamen, China 361004 Tel: 86-592-5053052, Fax: 86-592-5053062 COLOMBIA Banco Colombiano de Exportaciones (BANCOLDEX) Calle 28, No 134-15 – Edificio, Centro de Las Americanas, Bogotá D.C. Tel: +57 12825151, Fax: +57 12845071 Press Abstracts n° 1 & 2/2003 Page 33
  • 34. International Trade Centre UNCTAD/WTO Trade Finance Programme Fondo Nacional de Garantias (FNG) Apartado Aereo, No 41052, Bogotá D.C. Tel: +57 12867202, Fax: +57 1283381636 Segurexpo de Colombia Aseguradora del Comercio Exterior Calle 72, No 6-44 – Piso 12, PO Box 75140, Santafé de Bogotá D.C. Email: segurexp@COI1.telecom.com.co URL: http://www.colombiaexport.com/segurexp.htm Tel: +57 12170900, Fax: +57 12110218 COSTA RICA Fundacion Para el Desarrollo Sostenible de la PME (FUNDES) Apartado 743-2050, San Jose Tel: +50 62346359, Fax: +50 62346837 COTE D’IVOIRE La Protection Ivoirienne Bd. Clozel – Immeuble Menanou, Abidjan 01, 01 BP 4532 Tel: +22 5226772, Fax: +22 5224346 CYPRUS Export Credit Insurance Services Ministry of Commerce Industry & Tourism, CY-1421 Nicosia Tel: +35 72 303 441/456, Fax: +35 72366120 Hermes Insurance Co. PO BOX 24828, Nicosia Tel: +357 2 448130, Fax: +357 2 461888 CZECH Czech Export Bank (CEB) REPUBLIC Spalena 29, 111 96 Prague 1 URL: http://www.ceb.cz Fax: +42 0224228593 The Export Guarantee and Insurance Corporation (EGAP) Vodickova 34, PO Box 6, 111 21 Prague 1 E-mail: parizek@egap.cz, URL: http://www.egap.cz Tel: +42 0222842010, Fax: +42 0222844100 Gerling Speziale Vseobecna pojistovaci Akciora spolecnost Tel: +42-02-24 31 63 18, Fax: +42-02-24 31 43 89 DENMARK NCM EKR Kreditforsikring GL. Kongevej 11-13, DK- DK-1610 Copenhagen V Tel: +45 31313825, Fax: +45 31312425 Danish Export Finance Corporation La Cours Vej 7 DK-2000 Frederiksberg Tel: +45 38166800, Fax: +45 38166801 Gerling Nordic Kreditforsikring AG Frederiksberg C, Copenhagen Tel: +45 33 86 25 10, Fax: +45 33 86 25 05 Eksport Kredit Fonden (EKF) PO. Box 80, Tagensvej 137, 2000 Copenhagen URL: http://www.ekf.cz Tel: +45 35 46 61 00, Fax: +45 35 46 61 11 Press Abstracts n° 1 & 2/2003 Page 34
  • 35. International Trade Centre UNCTAD/WTO Trade Finance Programme ECUADOR Corporación Financiera Nacional Fondo de Promotion de Exportaciones (FOPEX) Calle Robles No 731 y Avenida Amazones, Quito Tel: +59 32564900, Fax: +59 322562519 EGYPT Credit Guarantee Corporation of Egypt 8 Adbel Khalek Sarwat St. 11th floor, El Cairo Export Credit Guarantee Company of Egypt URL: http://www.ecgegypt.com Export Development Bank of Egypt (EDBE) Talaat Harb Street, Evergreen Commercial, PO Box 2096, Cairo Tel: +20 257-82584/-77003, Fax: +20 3774553 FINLAND Finnish Guarantee Board (FGB) Etaläranta 6, PO Box 1010, FIN-SF-00101 Helsinki Tel: +35 80134111, Fax: +35 80651181 Leonia Corporate Bank PLC Office Eteläesplanadi 8, PO Box 123, FIN-00131 Helsinki Tel: +35 89131171, Fax: +35 89174819 Finnvera Oyj FIDE Ltd. Vuorimiehekatu 1, PO Box 1010, FIN-00140 Helsinki URL: http://www.finnvera.fi Tel: +358 105 2171, Fax: +358 105 217 220 FRANCE Banque Française pour le Commerce Extérieur (BFCE) 21 Boulevard Haussman, F-75009 Paris Tel: +33 142474747, Fax: +33 142474151 Compagnie Française d’Assurance Pour le Commerce Extérieur (COFACE) 151 Cours Michelet,F-92065 Paris La Défense Cedex E-mail: webmaster@coface.fr, Web site: www.coface.com Tel: +33 1 49 02 20 00, Fax: +33 1 49 02 27 41 Gerling NAMUR Direction pour la Portugal 111 rue Longchamp, F-75016 Paris E-mail : info@gerling.fr Tel: +33 1 44 05 56 00, Fax: +33 1 44 05 56 66 Unistrat Assurances 161-163 rue de Courcelles, F-75017 Paris Tel: +33 144299300, Fax: +33 147667107 Euler Group 1, rue Euler, F-75008 Paris Tel: +33 1 40 70 50 50, Fax: +33 1 40 70 50 17 GERMANY Ausfuhrkredit-Gesellschaft (AKA) Grosse Gallusstrasse 1-7, D-60311 Frankfurt am Main Tel: +49 69 298 00/91, Fax: +49 69 292928 Gerling Konzern Speziale Kreditversicherung AG Hohenzollernring 62, D-50672 Köln Tel: +49 221 14 43 705, Fax: +49 221 14 43 718 Press Abstracts n° 1 & 2/2003 Page 35
  • 36. International Trade Centre UNCTAD/WTO Trade Finance Programme Hermes Kreditversicherungs AG Friedensallee 254 or Postfach 2 27 46 22763 Hamburg E-mail: info@hermes-kredit.com, URL: http://www.hermes-kredit.com Tel: +49 40.8834.1055, Fax: +49 40.8834.1059 Kreditanstalt für Wiederaufbau (KfW) Palmengartenstrasse 5-9, D-60325 Frankfurt am Main Tel: +49 69 7430/1, Fax: +49 69 74312944 GREECE Export Credit Insurance Organization (ECIO) 57 Panepistimiou Street, GR- 10564 Athens URL: http://www.oaep.gr Tel: +30 13310-020/-997, Fax: +30 13244074 Gerling Speziale Greek Branch, Athens Tel: +30 1 72 59 364, Fax: +30 1 72 59 365 HONG KONG Hong Kong Export Credit Insurance Corporation (Special Administrative South Seas Centre, 2/f., Tower 1 – 75 Mody Road, T.S.T East Region of China) Kowloon, Hong Kong E-mail: wendylsl@hkecic.com, URL: www.hkecic.com Tel: +85 227233883, Fax: +85 227226277 Gerling Speziale Asia Gerling Gen Asia, Central Plaza, Wan Chai Tel: +852 5988 338 Hermes Credit Underwriters HK Ltd 9/F One international Finance CentreOne Harbour View Street, Central, Hong Kong E-mail: info@hermes.com.hk, URL: http://www.hermes-kredit.com Tel: +852 2867 0061, Fax: +852 2869 8655 HUNGARY EXIMBANK Nagymezo utca 44 H- H-1065 BUDAPEST E-mail: eximh@eximbank.zene.hu, URL: http://www.datanet.hu/mehib Tel: +36 126905-93/80, Fax: +36 1269-4476/-5735 Magyar Exporthitel Buztositó Rt. (MEHIB) Nagymezo u. 46-48, H-1065 Budapest E-mail: info@mehib.hu, URL: http://www.mehib.hu Tel: +36 12690593, Fax: +36 12695749 Gerling Speziale Budapest Tel: +36 1 31 92 758, Fax: +36 1 31 92 808 HERMES Hitelbiztosító Magyarország Rt. Nagybátonyi u. 8, Post Box 469, H–1037 Budapest Tel: +36 1 453 90 00, Fax: +36 1 453 90 09 Hungarian Export Credit Insurance Ltd. (MEHIB Ltd.) Nagymezö u. 46-48, H-1065 Budapest E-mail: mjuhasz@mehib.hu, info@mehib.hu URL: http://www.datanet.hu/mehib/index-eng.html Tel: +36 1-269 05 91/-374 92 00/-374 92 13, Fax: +36 1 269-5172/-1198 Press Abstracts n° 1 & 2/2003 Page 36
  • 37. International Trade Centre UNCTAD/WTO Trade Finance Programme INDIA Export Credit Guarantee Corporation of India Dalamal House – Jamnalal Bajaj Marg, Nairman Point, PO Box 11776 Bombay 400 021 Tel: +91 222835994, Fax: +91 222835994 I-EXIMBANK World Trade Centre, Cuffe Parade, Centre One Floor 21, Bombay 400 005 E-mail: eximind@giasbm01.vsnl.net.in URL: http://www.indiaworld.co.in/home/exim/ Tel: +91 222185272, Fax: +91 222182572 INDONESIA Asuransi Exspor Indonesia (ASEI) Sarinah Building, 13th Floor – JI MH Thamrin, No 11, 3812 JKT, Jakarta 10350 E-mail: asei01@ibm.net, URL: http://www.asei.co.id Tel: +62 213903535, Fax: +62 2132-7886/-3662 P.T. Bank Ekspor Impor Indonesia Jl. Jend., Gatot Subroto 36 & 38, Jakarta 12190 URL: http://www.bexi.co.id, Fax: +62 215265008 IRELAND The Insurance Corporation of Ireland (ICI) Burlington Road, DUBLIN 4 Tel: +35 317023000, Fax: +35 316609220 Gerling NAMUR 36 Lower Baggot Street, Dublin 2 Tel: +353 1 61 45 156, Fax: +353 1 61 47 240 ISRAEL Israel Foreign Trade Risks Insurance Corporation (IFTRIC) 65 Petah Tikva Road, PO Box 10215, Tel Aviv 61201 Tel: +97 235631777, Fax: +97 235610313 ITALY La VISCONTEA, Milan (COFACE) Via Bensi 12.5, I-20152 Milan E-mail: info@viscontea.it, URL: http://www.viscontea.it Tel: +39 02483351, Fax: +39 0248335404 Mediocredito Centrale Via Piemonte 51, Roma Tel: +39 0647911, Fax: +39 064791574 Società Italiana assicurazione Crediti S.p.A. (SIAC) 19, via Raffaello Matarazzo, I-00139 Roma URL: http://www.eulergroup.com/siac/home.cfm, or: http://www.grupposiac.it Tel: +39 6 8729 2957, Fax: +39 6 8729 2555 Sezione Speciale per l’Assicurazione del Credito all’Esportazione (SACE) 37 Piazza Poli, I-00187 Roma URL: http://www.ntt.it/sace Tel: +39 06 6736-255/-228, Fax: +39 06 678 9835 Euler / SIAC Via Raffaello Matarazzo 19, I-00139 Roma URL: http://www.grupposia.it Tel: +39 06 872921, Fax: +39 06 87130413 Gerling Speziale Rappresentanza Generale par l’Italia, Milan Tel: +39 02 63 24 15 01, Fax: +39 02 63 24 16 01 Press Abstracts n° 1 & 2/2003 Page 37
  • 38. International Trade Centre UNCTAD/WTO Trade Finance Programme JAMAICA National Export Import Bank of Jamaica (JAMAICA EXIMBANK) PO Box 3, Kingston Tel: +18 099229699, Fax: +18 099229184 JAPAN COFACE Tokyo Kioi-cho Bldg, 3F, 3-12, Kioi-cho Chiyoda-Ku, 102.0094 Tokyo Tel: + 81335566252, Fax: + 81335566253 Export, Import and Investment Insurance Division- Ministry of International Trade and Industry (EID-MITI) 1-3-1, Kasumigaseki, Chiyoda-ku, Tokyo 100-8901 URL: http://www.miti.go.jp Tel: +81 3 3501-1665/-8901, Fax: +81 3 3508 2624 Export-Import Bank of Japan (JEXIM) 4-1 Ohtemachi 1-Chome, Chiyoda-Ku, Tokyo 100-8144 Tel: +81 332879101, Fax: +81 332879539 Gerling Allgemiene Versicherungs – AG Tokyo Tel: +81 3 52 14 13 61, Fax: +81 3 52 14 13 65 Japan Bank for International Co-operation (JBIC) 1-4-1, Ohtemachi, Chiyoda-ku, Tokyo 100-8144 URL: www.jbic.go.jp Tel: +81 352 18 3100, Fax: +81 352 18 3956 JORDAN Export and Finance Bank (EFB) PO Box 941283, Amman 11194 Tel: +96 2694250, Fax: +96 2692062 Jordan Loan Guarantee Corp. Ltd (JLGC) PO Box 830703, Amman 11183 E-mail: mhammami@jlgc.com, URL: http://www.jlgc.com Tel: +96 2 4617393, Fax: +96 2 4613032 LEBANON Compagnie Libanaise pour la Protection du Credit (CLPC) E-mail: karimn@dm.net.lb Tel: +961 1 216 923, Fax: +961 1 202 391 Lebanese Credit Insurer SAL (LCI) Sodeco Square, Bloc B, 15th Floor, Damascus Road, Beyrouth E-mail: karimnas@inco.com.lb Tel: +961 1 615 616, Fax: +961 1 611 044 LESOTHO Central Bank of Lesotho Corner of Airport & Moshoeshoe Roads, PO Box 1184, Maseru 100 Tel: +26 6324281, Fax: +26 6310051 LIBERIA National Bank of Liberia Broad Street, Monrovia Tel: +23 1222497, Fax: +23 1222580 LUXEMBOURG Gerling NAMUR Assurance du Crédit SA Luxembourg Tel: +352 44 18 79 30, Fax:+352 45 07 20 Press Abstracts n° 1 & 2/2003 Page 38
  • 39. International Trade Centre UNCTAD/WTO Trade Finance Programme MALAYSIA Malaysian Export Credit Insurance Berhad (MECIB) Level 12, Bangunan Bank Industri – Jalan Sultan Ismail, 50734 Kuala Lumpur E-mail: mecib@mecib.po.my, URL: http://www.mecib.com.my Tel: +60 32910677, Fax: +60 32910353 MALTA Malta Export Credit Guarantee Company (MECI) Trade Centre, PO Box 8, San Gwann Sgn 09 URL: http://www.metco.com.mt Tel: +35 64461-86/-87, Fax: +35 6496687 MEXICO Banco National de Comercio Exterior (Bancomext) Periférico Sur 4333, 14210 Col. Jardines en la Montana, Mexico City URL: http://www.bancomext.gob.mx Fianzas Atlas, SA Córdoba 42, Piso 10, Col. Roma, 06700 México, D.F. E-mail: ventas@fianzasatlas.com.mx, URL: http://www.fianzasatlas.com.mx Tel: +52 5 511 4992, Fax: +52 5 511 5281 Gerling COMESEC, SA Avenida Miguel Angel de Quevedo 696, Apdo Postal 21-593 04000 Mexico, D.F. E-mail: federicocastro@comesec.com.mx, renegamboa@comesec.com.mx, comesec@compuserve.com.mx URL: http://www.gerling.com Tel: +52 15 484 00-31/-00, Fax: +52 15-6581173/-5543046 MOROCCO Société Marocaine d’Assurance à l’Exportation (SMAEX) 24 Rue Ali Abderrazak, Casablanca, Maarif Tel: +21 22 982 000 NETHERLANDS Gerling NAMUR Kredietverzekeringen Amsterdam Tel: +31 20 53 04 370, Fax: +31 20 53 04 379 Nederlandsche Credietverzekering Maatschappij (NCM) Keizershracht 281, Amsterdam URL: http://www.ncmgroup.com Tel: +31 20 553911, Fax: +31 20 5532811 NEW ZEALAND Export Credit Office Eksport Kredit Fonden, Ministry of Trade and Industry, Dahlerups Pakhus Langelinie Allé 17, DK-2100 Copenhagen, Denmark Tel: +45 35 46 61 63, Fax: +45 35 46 61 65 NIGERIA Nigerian Export-Import Bank (NEXIM) Allied Bank Building – 155/161 Broad Street, PO Box 80004, Lagos Tel: +23 412641050, Fax: +23 412667481 NORWAY Eksportfinans Dronning Mauds Gate 15, PO Box 1601, N- 0119 Oslo Tel: +47 22012201, Fax: +47 22012202 Garanti Instituttet for Exsportkreditt (GIEK) Dronning Maudsgate 15, 0250 Oslo URL: http://www.giek.no Tel: +47 22 876200, Fax: +47 22 832445 Press Abstracts n° 1 & 2/2003 Page 39
  • 40. International Trade Centre UNCTAD/WTO Trade Finance Programme GerlingNordic Kredittforsikring AS, Oslo Tel: +47 22 91 10 72, Fax: +47 22 91 10 81 NCM Kreditforsäkring Lysaker Torg 10, N- 1324 Lysaker PAKISTAN Pakistan Insurance Corporation Ltd. Al-Falah Court, 3rd and 5th Floor – I.I. Chundrigar rd 5436, Karachi 2 Tel: +92 212636111, Fax: +92 212638740 State Bank of Pakistan Chundrigar Road, PO Box 4456, Karachi Tel: +92 2151324141, Fax: +92 215671582 PERU Corporación Financiera de Desarrollo (COFIDE) Augusto Tamayo 160, PO Box 140501, Lima L27 Tel: +51 14422550, Fax: +51 14423374 Compañia Peruana de Seguro de Crédito a la Exportacion (SECREX) Av. Angamos –Oeste 1 234 Miraflores, Lima L18 E-mail: ciaseg@secrex.com.pe Tel: +51 14424033 PHILIPPINES Bangko Sentral NG Pilipinas (BSP) Mabini corner, Vito Cruz Street Malate, Metro Manila 1004 Tel: +63 2507093/ 51, Fax: +63 25223987 Philippine Export and Foreign Loan Guarantee Corporation (PHILGUARANTEE) 5th Floor, Executive Building Centre, Sen. Gil J. Puyat Avenue cor. Makati Avenue, Makati City, Philippines, 1200 Tel: 896 0707 (DL), Fax: 896 4515 POLAND Korporacja Ubezieczén Kredytón (KUKE) ul Widok 5, PL- 00-023, Warsaw E-mail: market@kuke.com.pl, URL: http://www.kuke.com.pl Tel: +48 22273583, Fax: +48 22273587 Gerling Polska Towarzystwo Ubezpieczen’ na Zycie (life), Warsaw Tel: +48 22 67 28 293, Fax: +48 22 67 28 468 PORTUGAL Companhia de Seguro de Créditos (COSEC) Avenida da Republica 58, P- 1069 Lisboa URL: http://www.cosec.pt Tel: +35 1179-60131/-52143, Fax: +35 117934614 REP. OF KOREA Export-Import Bank of Korea (KEXIMBANK) 16-1 Yoido-Dong, Youngdungpo-Gu, Seoul 150 URL: www.koreaexim.go.kr Tel: +82 23996792, Fax: +82 239 96-759/-577 Korea Export Insurance Corporation (KEIC) 16-18th Floor, Young Poong Bldg–33 Seorin-Dong, Chongro-Ku, Seoul 110-110 E-mail: webmaster@keic.or.kr, URL: http://www.keic.or.kr Tel: +82 23996157, Fax: +82 23996155 Press Abstracts n° 1 & 2/2003 Page 40
  • 41. International Trade Centre UNCTAD/WTO Trade Finance Programme ROMANIA EXIMBANK of Romania 6 Stavropoleous Strada, R-70075 Bucharest 3 Tel: +40 13110493, Fax: +40 13121350 RUSSIAN FED. Export-Import Bank of Russia 57 Arbat Street, Moscow 121200 E-mail: reib@online.ru Tel: +70 952443313, Fax: +70 952443110 Ingosstrakh Insurance Co., Ltd Pyatnitskaya 12, Moscow 113805 Tel: +7952303742, Fax: +7952302518 SAUDI ARABIA Islamic Corp. for the Insurance of Investment & export Credit (ICIEC) P.O. Box 15722, Jeddah 21454 E-mail: ksalemal@isdb.org.sa or ahashim@isdb.org.sa, labdulka@isdb.org.sa URL: http://www.iciec.org Tel: +966 2 64-45666/-67587, Fax: +966 2 64 43447 SENEGAL Société Nationale d’Assurances du Credit (SONAC) 56 Avenue Faidherbe – Résidence Faibherbe, PO Box 3939, Dakar Tel: +22 1224234, Fax: +22 1213611 SINGAPORE Export Credit Insurance Corporation of Singapore (ECICS) 10-00 Int. Factors Building – 141 Market Street, Singapore 048944 URL: http://www.ecics.com.sg Tel: +65 2728866, Fax: +65 2240939 SLOVAKIA EXIMBANKA SR Grsslingova 1, 813 50 Bratislava Tel: +42 1759398212, Fax: +42 1759398157 SLOVENIA Export Insurance and Finance Corporation of Slovenia Josipine Turnograjske 6, 1000 Ljubljana URL: http://www.sid.si Tel: +38 6611762019, Fax: +38 6611253015 SOUTH AFRICA Credit Guarantee Insurance Corporation of Africa (CGIC) Gauteng, PO Box 125 RANDBURG 2194 31 Dover Street URL: http://www.creditguarantee.co.za Tel: +27 118897000, Fax: +27 118897473 SPAIN MAPFRE Caución y Crédito S.A. Av. General Perón N°40 – C, 28020 Madrid Tel: +34 91 581 1303/-1300, Fax: +34 91 581-1336/-2981 Compañia Española de Seguros de Crédito a la Exportación, SA (CESCE) C/Velázquez 74, 28001 Madrid URL: http://www.cesce.es Tel: +34 1 557 60 66/77, Fax: +34 1 576 51 40 Gerling Speziale Delegación para España c/o GERINSA, Madrid Tel: +34 91 59 02 700, Fax: +34 91 59 02 739 Press Abstracts n° 1 & 2/2003 Page 41
  • 42. International Trade Centre UNCTAD/WTO Trade Finance Programme Compañia Española de Seguros y Reaseguros de Crédito y Caución SA (CESCC) Paseo de la Castellana 4, E-28046 Madrid URL: http://www.creditoycaucion.es Tel: +34 1 432 6300, Fax: +34 1 432 6511 SRI LANKA Sri Lanka Export Credit Insurance Corporation (SLECIC) Level 4, Export Guarantee House – 4 2 Navam Mawatha COLOMBO 2 Email: slecic@tradenetsl.lk Tel: +94 174719410, Fax: +94 174719400 SWAZILAND Central Bank of Swaziland Export Credit Guarantee Scheme (ECGS) PO Box 546, Mbabane Tel: +26 843225/ 43223, Fax: +26 845417 SWEDEN Export Kreditnämnden (EKN) Kungsgatan 36 Stockholm URL: http://www.ekn.se Tel: +46 8 701 00 00, Fax: +46 8 411 81 49 Svensk Exportkredit (SEK) Västra Trädgardsgatan 11 B, PO Box 16368, S-103 27, Stockholm Tel: +46 86138300, Fax: +46 8203894 NCM Kreditforsäkring AB Regeringsgatan 38, PO Box 7755, S-10396, Stockholm Gerling Nordic Kredittförsäkring AB, Stockholm Tel: +46 84 40 82 50, Fax: +46 84 42 57 90 SWITZERLAND COFACE Switzerland Bahnhofstrasse 65, 8001 Zurich Tel: + 41213400461, Fax: + 41213400462 Export Risk Guarantee Agency (ERG) Kirchenweg 8 , CH-8032 Zürich URL: http://www.swiss-erg.com Tel: +41 1 384 47 77, Fax: +41 1 384 47 87 Gerling Speziale Federal Insurance Co. Ltd Zurich Tel: +41 1 26 54 780, Fax: +41 1 26 54 920 Geschäftsstelle für die Export – risikogarantie (ERG Agency) Kirchenweg 8, CH-8032 Zürich E-mail: peter.silberschmidt@erg.admin.ch, URL: http://www.swiss-erg.com Tel: +41 1 384 4780, Fax: +41 1 384 4787 TAIWAN Export – Import Bank of the Republic of China (T-EXIMBANK) (PROVINCE 8th floor, 3 Nanhai road OF CHINA) Taipe2, Taiwan 100 E-mail: fupi@eximbank.com.tw, URL: http://www.heriff.com.tw Tel: +88 6232 10511, Fax: +88 6234 12659 Press Abstracts n° 1 & 2/2003 Page 42
  • 43. International Trade Centre UNCTAD/WTO Trade Finance Programme THAILAND Export-Import Bank of Thailand 16th Floor, Boon Pong Tower – 1193 Phaholyothin Road, Phayathai Bangkok 10400 Tel: +66 22713700, Fax: +66 22713204 TRINIDAD EXIMBANK of Trinidad and Tobago Ltd. AND TOBAGO URL: www.eximbank.co.tt TUNISIA Compagnie Tunisienne pour l’Assurance du Commerce Exterieur (COTUNACE) Rue 8006 – Cité Montplaisir, 1002 Tunis Tel: +21 61783000, Fax: +21 61782539 Compagnie d’Assurances Tous Risques et de Réassurance (ASTREE) 45 ave Kheireddine Pacha BP 780 1002 TUNIS TURKEY Turk EXIMBANK Milli Müdafa Cad. 20 – Bakanliklar, Ankara 06100 Tel: +90 3124171300, Fax: +90 3124257896 UNITED KINGDOM COFACE LBF OF GREAT BRITAIN 15, Appold Street, EC2A – 2DL London & NORTHERN Tel: + 441713257500, Fax: + 441713257699 IRELAND Export Credit Guarantee Department (ECGD) 2 Exchange Tower Harbour Exchange Square, London E14 9GS E-mail: rogleby.egcd.hx@gtnet.gov.uk URL: http://www.ecgd.gov.uk Tel: +44 171.512.7000, Fax: +44 171.512.7649 Gerling NAMUR UK Ltd London Tel: +44 207 69 68 099, Fax: +44 207 69 68 119 NMC Credit Insurance 3 Harbour Drive – Capital Waterside Wales, GB–Cardiff CF1 6TZ E-mail: IRB_info@IBM.net Tel: +44 1222824000, Fax: +44 1222824002 Euler Trade Indemnity Group Lloyd’s 1 Canada Square, GB-London E14 5DX URL: http://www.tradeindemnity.com Tel: +44 1715129333, Fax: +44 1715129186 URUGUAY Banco de Seguros Avenida Liberatador Brig. General, Montevideo Tel: +59 82917117, Fax: +59 82902428 VENEZUELA Fondo de Financiamento a las Exportaciones (FINEXPO) Banco Central de Venezuela, Esqu. Carmelitas, Piso 20, Caracas Tel: +58 28015148, Fax: +58 25614768 Instituto de Comercio Exterior (ICE) Ave. Libertador, Sec. La Florida – Centro Comercial Los Cedros, Caracas 1050 Tel: +58 27 62-2777/-3810, Fax: +58 27312343 Press Abstracts n° 1 & 2/2003 Page 43
  • 44. International Trade Centre UNCTAD/WTO Trade Finance Programme La Mundial Venezolana de Seguros de Crédito Av. R. Gallegos 23, Ed. RNV – Urbanizacion Montecristo, Caracas 1071 Tel: +58 22395808 ZIMBABWE Credit Insurance Zimbabwe (CREDSURE) Credsure House, 69 Second Street, CY 1584, Harare E-mail: Credsure@mail.pci.co.zw Tel: +26 34706101, Fax: +26 34706105 Reserve Bank of Zimbabwe 76 Samora Machel Avenue, Harare Tel: +26 34790731, Fax: +26 34726672 MULTILATERAL African Export-Import Bank (AFREXIMBANK) EXPORT CREDIT World Trade Center, PO Box 404, 11221 Cairo, 1191 Corniche El Nil St INSTITUTIONS URL: http://www.afreximbank.com Tel: +20 2580-1812/-1860, Fax: +20 25780276/ 7/ 8 Arab Trade Financing Program (ATFP) Trade Development & Promotion, Corniche Road, PO Box 26799, Abu Dhabi United Arab Emirates E-mail: heriff_k@yahoo.com, atfphq@atfp.org.ae, URL: http://www.atfp.org.ae Tel: +971 2 631-6999/-5442, Fax: +971 2 631-6299/-6793 Inter Arab Investment Guarantee Corporación P.O.Box: 23568, Safat 13096 State of Kuwait, Tlx: 46312, 22562 Kafeel KT. E-mail: info@iai.org.kw, URL: http://www.iaigc.org Tel: 48 44 500, Fax: 48 41 240; 48 15741/ 2 Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) C/o Islamic Development Bank, PO Box 5925, Jeddah 21432, Saudi Arabia Tel: 6361400, Fax: 6371064 Corporación Andina de Fomento (CAF) Altamira Avenue, Luis Roche, Torre Central, Venezuela Tel: 58 22842153, Fax: +58 22842880 Banco Latino Americano de Exportaciones SA (BLADEX) Calle 50 y Aquilino de la Guardia – El Dorado, PO Box 6-1497, Panama City Tel: +50 72636766, Fax: +50 72696333 Multilateral Investment Guarantee Agency (MIGA) 818 H Street, NW, Washington DC 20433, USA URL: http://www.miga.org Tel: +001 2024736167, Fax: +001 2025222630 REGIONAL Berne Union (The International Union Credit and Investment Insurers) ASSOCIATIONS OF 1-2 Castle Lane, London SW1E 6DR CREDIT INSURERS Tel: +44 171 233 8228, Fax: +44 171 233 8208 ALASECE (Associación Latino-Americana de organismos de Seguros de Crédito a la Exportación) Santafé de Bogotà, Colombia URL: http://www.alasece.com ICIA (International Credit Insurance Association) Flims Waldhaus, Switzerland Press Abstracts n° 1 & 2/2003 Page 44
  • 45. International Trade Centre UNCTAD/WTO Trade Finance Programme PASA (Pan-American Surety Association) Panamerican Surety Association, Reconquista 554, 1003- Buenos Aires Argentina E-mail: info@APFPASA.com.ar, URL: http://www.afpasa.com.ar Tel: +54 1 394 1404, Fax: +54 1 393 01 08 Dakar Union (Association of Export Credit Insurers and Export Promotion Organization) Résidence Faidherbe, 56, Avenue Faidherbe – BP 3939, Dakar, Sénégal Tel: +221 224 234, Fax: +221 213 611 National Export Import Bank of Jamaica (JAMAICA Eximbank) PO Box 3, Kingston Tel: +18 099229699, Fax: +18 099229184 Press Abstracts n° 1 & 2/2003 Page 45
  • 46. International Trade Centre UNCTAD/WTO Trade Finance Programme SOURCES FOR THE PRESS ABSTRACTS Project Finance Marchés Tropicaux Credit Notes Nestor House 98 Boulevard Malesherbes Credit Guarantee Insurance Corp. Playhouse Yard F-75017 Paris, France of Africa Ltd. London EC4V 5EX, UK Tel: +31 1 43188700 PO Box 125 Tel: +44 171 779 8995 Fax: +31 1 43188701 Randburg 2125, South Africa Fax: +44 171 779 8846 Tel: 011 889 7467 http://www.projecttradefinance.com Fax: 011 889 7473 trynag@cgic.co.za Society for Worldwide The Economist ECGD Press Release Interbank Financial Services 111, West 57th Street PO Box 2200 Avenue Adele 1 New York, NY 10019, USA 2 Exchange Tower B-1310 La Hulpe, Belgium Tel: +1 212 541 0500 Harbour Exchange Square Tel: +32 2 6553111 Fax: +1 212 541 9378 London E14 9GS, UK Fax: +32 2 6553226 http://www.economist.com Tel: +171 512 7000 Fax: +171 512 7649 Telex: 290350 ECGD HQG International Trade Finance Financial Times NCM N.V. Maple House 1, Southwark Bridge Keizersgracht 281 149 Tottenham Court Road London SE1 9HL, UK 1016 ED Amsterdam London W1P 9LL, UK Tel: +44 171 873 3000 PO Box 473 Tel: +44 1424 719 248 Fax: +44 171 407 5700 1000 AL Amsterdam Fax: +44 1424 442 913 http://www.ft.com The Netherlands Tel: +31 020 553 9111 Fax: +31 20 553 2811 info@ncmgroup.com Le Moci Africa Confidential Asia Weekly Financial Alert 10, Avenue d’Iéna 73, Farringdon Road Business Monitor International Ltd. F-75116 Paris, France London EC1M 3JQ, UK 179 Queen Victoria Street Tel: +32 1 40 73 3000 Tel: +44 20 7831 3511 London EC4V 4DU, UK Fax: +32 1 40 73 3585 Fax: +44 20 7831 6778 Tel: +44 20 7248 0468 Lemoci@dial.oleane.com http://www.africa-confidential.com Fax: +44 20 7248 0467 http://www.emerging-markets- online.com New Media Age Trade Finance EDC Newsletter 50 Poland Street Nestor House Export Development Canada London W1F7AX, UK Playhouse Yard 151 O’Connor Tel: +44 20 7943 8134 London EC4V 5EX, UK Ottawa, Canada K14 1K3 Fax: +44 20 7943 8169 Tel: +44 171 779 8610 Tel: +613 598 2500 http://www.newmediazero.com Fax: +44 171 779 8846 Fax: +613 237 2690 http://www.tradefinancemagazine.com http://www.edc.ca ZDH Partnership News Zentralverband des Deutschen Handwerks (ZDH) Mohrenstr. 20/21 D-10117 Berlin, Germany Tel: +49 30 20619-0 Fax: +49 30 20619-460 http://www.zdh.de http://www.zdh-connect.com Press Abstracts n° 1 & 2/2003 Page 46
  • 47. ITC: Your Partner in Trade Development The International Trade Centre (ITC) is the technical cooperation agency of the United Nations Conference on Trade and Development (UNCTAD) and the World Trade Organization (WTO) for operational, enterprise-oriented aspects of trade development. ITC supports developing and transition economies, and particularly their business sectors, in their efforts to realize their full potential for developing exports and improving import operations. ITC works in six areas: Product and market development Development of trade support services Trade information Human resource development International purchasing and supply management Needs assessment, programme design for trade promotion International Trade Centre U N C TA D / W T O ITC: Your partner in trade development For more information: Street address: ITC, 54–56, rue de Montbrillant,1202 Geneva, Switzerland. Postal address: ITC, Palais des Nations, 1211 Geneva 10, Switzerland. Telephone: +41 22 730 0111 fax: +41 22 733 4439 e-mail: itcreg@intracen.org Internet: http://www.intracen.org

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