Jacob Atkins

Danish renewable energy developer Ørsted has secured a financing facility backed by a club of export credit agencies (ECAs) to fund an offshore wind project in Taiwan.

Banks in the EU are gearing up for the implementation of new capital requirement rules when Basel 4 takes effect on January 1 next year, but doubts remain over the treatment of key trade finance products.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has named Khalid Khalafalla as its next chief executive. ICIEC is an insurance division of the Islamic Development Bank, where Khalafalla has worked since joining the group in 2005, ICIEC says in a statement. “It is a privilege to lead an institution that ...

Sustainability / December 23, 2024 / by Jacob Atkins and Felix Thompson Share this article:

US asset manager Yieldpoint claims it is still owed around US$5mn by a commodity trade finance fund founded by Kimura Capital, despite a court dismissing its original claim last year. The Yieldpoint Stable Value Fund says in a claim filed in December that the Quintar Kimura Special Credit Fund Limited must pay it “fair market ...

BNP Paribas has filed lawsuits against an owner of the collapsed oil trader Gulf Petrochem, seeking repayment of around £108mn in loans and interest that were called in after the bank said it discovered the company had issued false invoices. Gulf Petrochem and the wider GP Global group collapsed in mid-2020, owing large sums to ...

Reinsurer Scor has promoted Henry Mummé-Young to chief underwriting officer for Scor UK and active underwriter for the insurer’s Scor Syndicate 2015. In the new role, Mummé-Young reports to Scor UK chief executive Chris Beazley. He first joined Scor in 2014, and was most recently its global line head for political and credit risks for ...

Engie has secured a US$500mn term loan backed by the Export and Investment Fund of Denmark (EIFO), the French energy giant’s first direct financing facility supported by an OECD export credit agency. Société Générale and Citi arranged the facility, which also marks the first time EIFO has supported a loan for the French utility market. ...

The Danish export credit agency has guaranteed US$420mn financing to expand a wind farm close to the frontline in Ukraine, underlining Denmark’s appetite to back projects in the country despite the war with Russia. The Export and Investment Fund of Denmark (EIFO) says it has guaranteed the loan provided by Danske Bank to DTEK, a ...

Export credit agencies (ECAs) are increasingly channelling support for energy deals to high-income countries as they shift to renewables, a study has found, further shrinking poorer nations’ access to energy finance. Wealthy nations have driven a sharp rise in export credit support for renewable energy technology in recent years, but a study published today in ...