THE ROLE OF EXPORT CREDIT AGENCIES
IN SUSTAINABLE DEVELOPMENT
Workshop organised by the Center for International Environmental
Law (CIEL)
Date: September 1
Time: 14h00-16h00
Venue: Boell Forum at the People's Global Forum +
[ where is it ]
The Center for International Environmental Law in collaboration
with Urgewald, Germany and Friends of the Earth, Japan, are convening
a panel to discuss Export Credit Agencies (ECAs) and the need to
reform their operations, with a particular focus on improving transparency.
ECAs are primarily public or publicly-mandated institutions that
provide financial support for a country's exports and foreign investments.
Annually, ECAs finance or underwrite about US$491 billion of business
activity abroad - about US$55 billion of which goes towards project
finance in developing countries - and provide US$13 billion of insurance
for new foreign direct investment, dwarfing all other official sources
combined (such as the World Bank and Regional Development Banks,
bilateral and multilateral aid, etc.). ECAs hold over 25 % of developing
countries' US$2.2 trillion debt.
While safeguard policies and standards are in the process of being
developed by various national governments and at the OECD, a host
of issues, including transparency and accountability, require further
discussion. The WSSD represents an excellent opportunity for governments
to share their experience and discuss ways to reform ECAs in a manner
that takes into account social, environmental and economic aspects.
Speakers include Daikichi Monma, Director of Development
Issues, Ministry of Finance, Japan; Heidemarie Wieczorek-Zeul,
Development Minister, Germany (invited); Shripad Dharmadhikary,
Narmada Bachao Andoloan, India; Motseoa Senyane-Makatjane,
Transformation Resource Centre, Lesotho (invited); Pascal Lamy,
Commissioner, European Commission (invited); and Daniel Magraw,
Executive Director, Center for International Environmental Law,
US.
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