Month: August 2020

UK Government provides over £140 million of support for exports to Ghana

UK Export Finance (UKEF) has announced it will provide over £140 million of financing to support UK exports to Ghana and help secure export opportunities for UK companies on major national infrastructure projects across the country.  This infrastructure support has helped to secure export opportunities for UK companies in healthcare, sanitation and transport across the country. … Continue reading UK Government provides over £140 million of support for exports to Ghana

GCR affirms Afreximbank’s A- rating

[box] Credit rating underpinned by Afreximbank’s strong status as one of the largest Multilateral Development Banks within the African region [/box] Cairo, 28 August 2020: – The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, announces that Global Credit Rating (GCR) has affirmed its international scale long-term and short-term issuer ratings of A- and A2,… Continue reading GCR affirms Afreximbank’s A- rating

CITY WEEK 2020: The future of financial services in the new Covid-19 world

TFG announced a media partnership with City & Financial Global Ltd for 10th edition of City Week 2020 – its annual International Financial Services Forum.

Surety Bond Dilemma in Turkish Insurance: Breathing Life into Phraseology

TFG heard from Dr. Özge TOSUN, legal counsel at Export Credit Bank of TURKEY (Turk Eximbank) on the various surety bond dilemmas in Turkish insurance including the impracticality of expecting Turkish law to govern all overseas contracts.

IDB Launches CAD 500 Million 0.875% 7-year Fixed Rate Global Sustainable Development Bond

The Inter-American Development Bank (“IDB” or “IADB”), rated Aaa/AAA (Moody’s/S&P), priced last week a new CAD 500 million 7-year Global Sustainable Development Bond raising awareness for the United Nations’ Sustainable Development Goal #3: Good Health and Well-being. The transaction pays a semi-annual coupon of 0.875% and matures on 27 August 2027. It priced with a… Continue reading IDB Launches CAD 500 Million 0.875% 7-year Fixed Rate Global Sustainable Development Bond

Liz Truss brings key industries closer to trade negotiations

[box] Department for International Trade (DIT) steps up engagement with British industry and farmers as UK trade negotiations intensify Eleven new trade advisory groups, covering a range of key sectors, established to provide knowledge and experience Insight and expertise of top business people being used to inform UK negotiating position and deliver deals that benefit… Continue reading Liz Truss brings key industries closer to trade negotiations

The International Islamic Trade Finance Corporation Extends COVID-19 Response Financing Facility to the Republic of Mauritania

[box] US$10 million ITFC intervention to tackle shortages in emergency laboratory and personal protective equipment in the fight against coronavirus  [/box] (Jeddah, KSA, 26 August 2020) – The International Islamic Trade Finance Corporation (ITFC), has provided US$10 million financing in favour of the Islamic Republic of Mauritania specifically to procure medicine and equipment to help them… Continue reading The International Islamic Trade Finance Corporation Extends COVID-19 Response Financing Facility to the Republic of Mauritania

Afreximbank Delivers Solid Performance in H1 2020

[box] Cairo, 24 August 2020 – African Export-Import Bank (Afreximbank) today released its unaudited financial statements for the six months ended 30 June 2020. Despite the impact of the Covid-19 pandemic on socio-economic conditions globally, the Bank saw its Net Income rise by 10% from US$137.63 million in June 2019 toUS$150.75 million in June 2020,… Continue reading Afreximbank Delivers Solid Performance in H1 2020

Rethinking Credit Risk Management – TFG announces partnership with SCHUMANN Conference 2020

TFG announced a media partnership with the SCHUMANN Conference 2020, a digital Credit Risk Management event, which will be held online on 1st October 2020.

Euler Hermes survey – Four in five UK CFOs “unprepared” for Covid-19 sales slump

[box] [/box] Eight in 10 chief financial officers fear their businesses are ill-prepared to handle a decrease in sales volumes as the full impact of Covid-19 begins to be felt on the UK economy, according to research from Euler Hermes.  The findings come from its The Finance Leader of Tomorrow survey, which profiles European finance directors’ sentiments… Continue reading Euler Hermes survey – Four in five UK CFOs “unprepared” for Covid-19 sales slump

International Islamic Trade Finance Corporation Signs US$8 Million Trade Finance Agreement with Uzbekistan based ‘Trustbank’

[box] This Line of financing is in line with ITFC’s ‘Recovery Response Program’ (RRP), aimed at mitigating the adverse socio-economic impact of COVID 19 which is expected to last longer than immediate health impact of the virus [/box] Jeddah – 19 August 2020: The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank… Continue reading International Islamic Trade Finance Corporation Signs US$8 Million Trade Finance Agreement with Uzbekistan based ‘Trustbank’

TFG announces partnership with Reuters Events flagship Commodity Trading Summit

Trade Finance Global (TFG), today announced a media partnership with Reuters Events flagship Commodity Trading Summit, a virtual series of events featuring commodity producers, traders, buyers and investors.

EXPLAINED: Sight and deferred payments, acceptance and negotiation letters of credit

Having an understanding of the types of LC availability, and the differences between them, will help the beneficiary formulate the terms of the letters of credit that it would be willing to accept, and to mention such terms in their discussions and sales contracts with their clients.

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