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September
China’s CITIC Group and China Development Bank have signed a loan to the Ministry of Economy and Public finance of Argentina for subway vehicles and equipment.
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August
Global trade solutions provider Surecomp has expanded its support and development centres in Beijing, China, and Santiago, Chile.
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WestLB has launched syndication of a pre-export financing facility for Brazilian agri-company Vigolo- Bom Jesus.
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Citi and OPIC have signed a ten-year term loan to Banco Regional to support long-term finance for small and mid-sized enterprises in Paraguay.
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Trade services solutions provider Surecomp has expanded its support and development centres in China and Chile as part of a drive to grow business in both regions.
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The Export Import Bank of the Unites States has signed a direct loan to Energía Eólica de Honduras to finance the Cerro de Hula wind farm, Honduras.
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French export credit agency Coface is backing two deals for BNP Paribas with French aerial work platform manufacturer Haulotte Group for two companies in Brazil.
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Santander and WestLB launch senior syndication of secured trade loan for Brazil’s Bahia Cellulose.
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The Inter-American Development Bank has signed a syndicated loan to Mibanco – Banco de la Microempresa for on-lending to female micro-entrepreneurs in Peru.
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The Korea Development Bank and the Export-Import Bank of the United States have approved a project financing for the Boleo Project in Mexico.
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The Brazilian Development Bank has announced its profit in the first semester of 2010, an increase of 408.6% compared to the same period last year.
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Italy’s export credit agency Sace has announced it has a $1 billion pipeline of new transactions in Brazil.
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US Ex-Im is backing a loan by Banco Santander to Peruvian meat and poultry producer San Fernando for feed stock for poultry production.
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BBVA and Banco Santander have signed a deal for Volkswagen de Mexico to purchase automobile products from a pool of German exporters.
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Banco Bilbao Vizcaya Argentaria has signed a loan with Mexican forging industry manufacturer Frisa Forjados S.A. de C.V.
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The International Finance Corporation and the government of Colombia have completed the third and final contract for the country’s $2.7 billion Ruta del Sol 1,071 km highway project.
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WestLB has arranged the senior debt financing for a commercial container port in Colombia under the IFC’s A/B loan programme.
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The Inter-American Development Bank (IADB) is providing Banco de Galicia y Buenos Aires with a loan to support environmentally beneficial projects.
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Daniel Zelikow has been named as the head of a new international public sector group within JP Morgan’s global corporate bank.
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Close to customers
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The Andean champion
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Setting the example
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Winning in a tough market
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Uniquely equipped for LatAm trade
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On a roll
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Adapting to growth
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An eclectic market
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A real global player
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Underscoring commitment
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Inter-American Development Bank approves second phase expansion loan for Nicaraguan San Jacinto-Tizate geothermal power project.
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Scotiabank has completed the acquisition of RBS’s wholesale banking operations in Colombia with the launch of Scotiabank Colombia.
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Brazilian law firm Ramos e Zuanon Advogados has appointed a new partner, José Eduardo Manassero, and will now be known as Ramos, Zuanon e Manassero Advogados (RZM Advogados).
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July
Trade credit insurer Euler Hermes has opened its fifth Latin America office in Santiago.
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The launch of IADB’s report “India: Latin America’s Next Big Thing?” saw discussion underline the huge potential for more trade between the two, and how India may be a better match for the region than China.
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Brazilian pulp producer Fibria Celulose has signed a pre-export financing through a club of nine banks.
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Member countries provide strategic vision and accountability framework; bank will expand support to small and vulnerable countries and triple support for trade and integration.
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Brazil’s development bank BNDES has approved financing for Petrobras Transporte to aquire seven tanker vessels.
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The Inter-American Development Bank will invest annually in integration projects for Central America, South America and the Caribbean to extend regional links to the global economy.
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São Paulo-based lawyers Christian Ramos at Ramos e Zuanon Advogados and Charles Johnson at Chadbourne & Parke give Trade Finance magazine unique insight into the current health of the Brazilian commodities finance market from a legal perspective.
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The Brazilian agri-sector hit turbulent times through the worst of the global financial crisis. However, the sector has bounced back well and select international banks are once again working with the better risks. Michele Martensen assesses the agri-sector.
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China is to invest $10 billion in Argentina’s railways in a major win for Chinese exporters, as part of a spate of agreements signed between the two nations.
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Law firm Chadbourne & Parke is opening a new office in Sao Paulo and has hired two trade finance lawyers to strengthen its Latin America practice.
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Bermuda-based Ariel Reinsurance Company is to open a representative office in Rio de Janeiro, Brazil, after securing approval by Brazilian insurance regulator SUSEP.
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Luis Alberto Moreno has been re-elected president of the Inter-American Development Bank.
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The Industrial Bank of Korea has joined the Inter American Development Bank’s trade finance facilitation programme to support Korean exports to the Latin American region.
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Banksville has completed a secured export financing facility for Colombian fruit exporter Banacol to finance its exports to Germany.
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The Export-Import Bank of the United States has signed a framework agreement with Brazil's BNDES, to seek opportunities for jointly promoting investments and projects in Brazil.
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June
IFC is supporting Bancolombia with risk-hedging instruments for Colombian companies.
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The Inter-American Development Bank and Italian export credit agency Sace have signed an agreement to strengthen their collaboration.
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IFC has arranged a syndicated A/B loan for Brazil’s Banco Daycoval to increase access to finance for SMEs.
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Banks have closed one of largest, and longest, LatAm pre-export financing this year for Brazil’s Groupo Votorantim.
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Brazilian state oil company Petrobras has secured a framework agreement from the Norwegian Guarantee Institute for Export Credits (GIEK).
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Bookrunner Rosemount Capital has signed a trade loan on behalf of Brazil’s Banco Pine.
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The Export Import Bank of the United States has approved five medium-term insurance policies for exports which focus on infrastructure development in Chile.
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Bancolombia Factoring and Bancolombia have sold an unproductive portfolio to Compania Reintegra.
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Rabobank has extended its cooperation with Brazil’s Banco Cooperativo Sicredi with the intention of further developing the country’s SME agribusiness sector.
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Baja Mining Corp has signed an agreement with Louis Dreyfus Commodities that sees the project financing of the Boleo copper/cobalt mine in Mexico move forward.
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Despite talks collapsing in March the Export-Import Bank of China has agreed to finance a 1,500-megawatt-capacity Coca Codo Sinclair hydro complex in Ecuador.
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The Inter-American Development Bank is funding a programme to increase business productivity and competitiveness in Peru to facilitate the use of new free trade agreements.
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May
Caribbean Development Bank, European Investment Bank, FMO, IFC and Proparco have agreed to increase coordination across their different projects within the Caribbean.
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On the fifth anniversary of the setting up of the Banco Espirito Santo (BES) structured trade finance (STF) team, Jonathan Bell went to meet the key personnel at the London offices of BES to find out how the business has evolved.
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As with other multilateral financial institutions the IADB has seen activity reaching record levels. One particularly important programme has been the A/B loan structure. Oliver O’Connell speaks with Jozef Henriquez, head of syndications, for an update.
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PNC Bank loan and US Ex-Im medium term insurance facilitate railroad equipment exports to Brazil.
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Bookrunner ING has signed a dual-tranche syndicated pre-export finance facility on behalf of Brazilian agribuisness Multigrain.
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It has been a long time coming, but the Brazilian government has announced the creation of an Export-Import Bank, leaving Russia as the only BRIC without an official export credit agency.
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A mega trade loan being arranged for Venezuelan oil producer PDVSA has closed following a successful general syndication.
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April
An independent panel, based in Lima, established to advise on the environmental and social effects of development in south central Peru, is now operational.
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Pamella McLean, managing director of the National Export Import Bank of Jamaica will retire at the end of April.
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As the global economy emerges from the downturn, the trade and supply chain finance industry in the Americas is dusting itself off and learning from the events of the past two years. Oliver O’Connell examines the scene.
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IFC is providing financing through it Global Trade Finance Programme to increase access to capital for agribusinesses in Argentina.
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The Inter-American Development Bank is increasing the amount of capital available for wind, solar and hydro projects.
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Brazil, Russia, India and China’s development banks have signed a memorandum of cooperation to enhance trade and economic relations between BRIC countries.
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The US is suspending its cotton export credit programme as part of a bid to end a trade dispute with Brazil.
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Lead arrangers Banca de Inversion Bancolombia and the Central American Bank for Economic Integration have closed financing of the Jaguar coal power project in Guatemala.
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Brazilian ship-owner Transpetro, Eisa Shipyard and BNDES have signed the financing contract for four Panamax vessels under the Promef programme.
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The Japan Bank for International Cooperation has signed a project financing loan with Dutch P&M Drilling International to finance an ultra-deepwater oil drillship project in Brazil.
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March
Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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CAF has approved $36 million to support Argentina’s satellite programme which has the potential to become a significant export product.
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The Inter-American Development Bank is strengthening its partnership with China a year on from the country signing up for membership of the bank.
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Six financial institutions from Bolivia, China, Spain and the US have joined the Inter-American Development Bank’s Trade Finance Facilitation Programme (TFFP).
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The Japan Bank for International Cooperation has signed a loan agreement with Petróleos Mexicanos to finance the expansion of its Chicontepec oil and gas field development project in mid-eastern Mexico.
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The IFC and Peru LNG have helped Agricola Viñasol to obtain a GBF loan to diversify its portfolio of agricultural products in local and export markets.
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The Andean Development Corporation (CAF) has approved a $40 million capital investment in the Peruvian Infrastructure Fund.
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DLA Piper has signed a cooperation agreement with Brazil’s Campos Mello Advogados, promising “more to come” in Latin America.
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Results from the Audience Response System sponsored by BBVA at the 12th Annual Structured Trade & Export Finance in the Americas Conference.
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February
US Ex-Im and Banobras have signed a memorandum to support up to $1 billion in US exports to back Mexico’s infrastructure development programme.
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A Mexican national has been indicted and arrested in connection with an alleged scheme to defraud US Ex-Im.
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Citi and Deutsche Bank have signed a buyer credit for telecoms firm, Telefónica, backed by Swedish export credit agency EKN.
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Bolivia’s Banco Ganadero has joined the International Financial Corporation’s Global Trade Finance Programme to help expand trade financing for its clients.
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Ecopetrol’s senior management has set out the company’s intentions for 2010 with plans to raise $3.5 billion in financing.
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James Prusky and Robert Klein, principals at Crecera Finance Company, discuss the role of trade finance in unlocking growth in the Latin American SME market.
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Export Development Canada employees have raised funds for disaster relief in Haiti with EDC and the Canadian Government matching donations.
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Valentino Gallo, Managing Director and Americas Head, Citi, Export and Agency Finance, takes a look at the effects of last year’s dramatic shifts in the financial landscape and the way forward in 2010.
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Market comment: Antonio Alves, senior regional head of trade finance, Latin America and Caribbean region, IFC.
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Alexander R.Malaket explores the state of trade and trade finance in Mexico at a time when the country’s two Nafta partners are each dealing in their own way with the consequences of the crisis.
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Canadian export credit agency, EDC, has provided a loan to Chilean mining company Minera Los Pelambres.
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Under the government of Japan’s Trade Finance Initiative, JBIC has signed its first loan to CAF to directly support trade finance.
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January
Deutsche Bank and Société Générale have closed a buyer credit loan to the Dominican Republic to build three new hospitals in Santo Domingo.
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Colombian buyers and US exporters to benefit from $1 billion US Ex-Im preliminary commitment to Colombia’s Ecopetrol.
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Banco Espirito Santo (BES) and China Development Bank launch syndication of a major trade-related loan for Venezuelan oil producer PDVSA.
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Brazilian offshore operator Schahin has signed a debt restructuring for its Black Gold drilling vessels, to be chartered by Petrobras.
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Santander has a signed a long-term buyer credit deal to fund Mexico’s acquisition of military aircraft.
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Export-Import Bank of China is guaranteeing a trade loan for Chile’s Banco de Credito e Inversiones (BCI).
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German development bank, KfW, is refinancing the South American development bank, CAF.
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The Inter-American Development bank has arranged a loan to Chile’s Banco de Crédito e Inversiones for unbanked micro-entrepreneurs.
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The Andean Development Corporation has signed a loan agreement with Venezuela for the Termozulia III Thermoelectric Project.
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Inter-American Development Bank posts record year thanks to response to Latin American and Caribbean demand for financing in wake of global crisis.
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Change in status further opens up three new markets for US exporters.
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Bookrunner Standard Chartered has signed a pre-export financing for Brazilian soft commodity wholesaler Empresa Interagricola.