Export Credit Insurance – Business Continuity And Disaster Recovery World http://business-continuity-and-disaster-recovery-world.co.uk/ Fri, 04 Jun 2021 16:50:26 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://business-continuity-and-disaster-recovery-world.co.uk/wp-content/uploads/2021/05/cropped-icon-32x32.png Export Credit Insurance – Business Continuity And Disaster Recovery World http://business-continuity-and-disaster-recovery-world.co.uk/ 32 32 Auto insurance for an Alfa Romeo https://business-continuity-and-disaster-recovery-world.co.uk/auto-insurance-for-an-alfa-romeo/ https://business-continuity-and-disaster-recovery-world.co.uk/auto-insurance-for-an-alfa-romeo/#respond Fri, 04 Jun 2021 13:47:09 +0000 https://business-continuity-and-disaster-recovery-world.co.uk/auto-insurance-for-an-alfa-romeo/

Italy has spent centuries consolidating its place as a luxury supplier. From Versace and Gucci to the country’s leather and shoes, Italy knows the high end. But perhaps its biggest luxury export – both in terms of market share and the size of the export itself – it’s the cars.

And Alfa Romeo has reduced the space for its vehicles, which is quite impressive considering the fact that other luxury Italian automakers include Ferrari and Lamborghini. But because their vehicles are so premium, Alfa Romeo drivers must be prepared to pay more than the national average for auto insurance, which currently drops to $ 1,674. When car insurance companies determine the rates, the make and model of the vehicle play a major role, so car insurance for Alfa Romeo can get expensive.

How much does the insurance of an Alfa Romeo cost?

The cost of auto insurance for Alfa Romeo varies among insurance companies. While different insurance companies typically take similar factors into account when setting your rates – things like your driving record, location of residence, annual mileage, and make and model of your vehicle – they do assess the factors. differently.

Nevertheless, we can give you a rough idea of ​​the average cost of auto insurance for Alfa Romeo. And this can be useful because you will almost certainly need car insurance. Almost all states require drivers to carry at least liability insurance to pay for damages they cause while driving. And if you’re driving a high-end vehicle like an Alfa Romeo, you’ll probably want coverage to protect your car itself as well.

Ultimately, everything from the amount of coverage you purchase to your driving history and your car itself affects the price of your auto insurance policy. From the outset, know that if you choose an Alfa Romeo, you find yourself in the category of luxury auto insurance, that is, paying more than the average cost of auto insurance. You should also be aware that policy cost averages vary from model to model, so we looked at the rates for:

  • Alfa Romeo Guilia
  • Alfa Romeo Spider
  • Alfa Romeo Stelvio

That way, whether you’re planning to buy an Alfa Romeo or already driving one but have considered switching carriers, you can pretty much know where the more affordable policies lie, in terms of price.

Auto insurance for Alfa Romeo: by model

Again, the rates will vary from person to person, as factors specific to each person, such as your past tickets and accidents and how much you drive each year, play a role in the cost of your policy. That said, to help you better understand what you can expect to pay, here are some auto insurance averages for Alfa Romeo:

Alfa Romeo auto insurance Average annual premium for minimum coverage Average annual premium for full coverage
Alfa Romeo Guilia $ 488 $ 2,446
Alfa Romeo Spider $ 445 $ 2,720
Alfa Romeo Stelvio $ 501 $ 2,106

The cheapest auto insurance companies for Alfa Romeo Guilias

Obviously, insuring an Alfa Romeo is far from cheap. But we’ve done some research to help you find the most affordable policy possible. We crossed the auto insurance companies in our top ranking (which rates the top providers by market share in key areas such as pricing and customer service) with our list of the cheapest auto insurance companies. . The result is auto insurance for Alfa Romeo at the lower end of the price bracket.

Again, prices will vary depending on the driver and their individual risk factors, but the following can give you a rough idea of ​​the cost of insuring an Alfa Romeo Guilia, its high-performance luxury sports sedan:

Auto insurance company Average annual premium for minimum coverage Average annual premium for full coverage
United States $ 337 $ 1,565
Geico $ 401 $ 2,394
State farm $ 396 $ 1,630
Erie $ 353 $ 1,261
Amica $ 342 $ 1,792

The cheapest auto insurance companies for Alfa Romeo Spider

Sports cars are a whole different beast, both in terms of driving experience and insurance. And the Alfa Romeo Spider is no exception. This signature two-seater delivers what you expect from a luxury sports car, such as quick acceleration and premium finishes. In addition, the latest Spiders are based on a chassis made from a single piece of carbon fiber. Partly because of all that oomph and wow factor, the Spider is also the most expensive Alfa Romeo to insure (assuming you want full coverage; the minimum liability coverage is quite cheap because the Spider is so small that it can’t do much damage). Take a look at the most affordable fonts we could find:

Auto insurance company Average annual premium for minimum coverage Average annual premium for full coverage
United States $ 273 $ 1,719
Geico $ 386 $ 2,615
State farm $ 425 $ 2,181
Erie $ 218 $ 1,160
Amica $ 342 $ 1,807

The cheapest auto insurance companies for Alfa Romeo Stelvios

The Stelvio is Alfa Romeo’s luxury SUV, and like most SUVs, that means paying more for car insurance. Specifically, you should expect to pay more for your liability coverage, as the larger vehicle could cause more damage on the road. In terms of full coverage, however, the Stelvio is fairly middle-of-the-road in our auto insurance for the Alfa Romeo cost breakdown. Here are some of the cheapest policies we could find for the Alfa Romeo SUV:

Auto insurance company Average annual premium for minimum coverage Average annual premium for full coverage
United States $ 361 $ 1,422
Geico $ 390 $ 1,712
State farm $ 396 $ 1,567
Erie $ 348 $ 1,184
Amica $ 342 $ 1375

Other auto insurance coverages for Alfa Romeo

Above we have described two different policy cost averages: for minimum coverage and full coverage. What does each mean?

Minimal coverage means you’re carrying exactly what your condition needs. In all states except New Hampshire, that means driving with personal injury and property damage liability insurance. The former goes in to pay medical bills if you injure someone while driving, while the latter pays for damage to their vehicle or any other property you have struck with your car.

If you are buying or leasing an Alfa Romeo, you will probably want coverage for your vehicle itself. Our full coverage quotes include three types of protection that can help you with any loss related repairs your Guilia, Spider or Stelvio might need. Specifically, we have included:

  • Full coverage. Not all damage to the vehicle is the result of a car accident. Your car could be damaged – or even stolen – while it’s apparently safe in the park. Therefore, you may want to purchase comprehensive coverage, which comes in to cover costs resulting from everything from theft and vandalism to a tree branch falling on your Alfa Romeo.
  • Collision coverage. If another driver rings your Alfa Romeo, their liability coverage should foot the bill. But what if you find yourself liable for the damage? If you get back into something or cause an accident, your collision coverage may cover the resulting repairs, up to the limits of your policy.
  • Coverage for uninsured motorists. Let’s go back to our previous example of another driver causing an accident with you. While almost all states require drivers to have liability insurance, the Insurance Information Institute (III) estimates that more than 12 percent of drivers today take to the road without coverage. If an uninsured driver damages your Alfa Romeo, your uninsured motorist coverage may come to the rescue.

Now you have a good idea of ​​the cost of auto insurance for Alfa Romeo. Before choosing a policy, make sure it includes the optional coverage you need, like the ones we just described, and take the time to compare quotes from multiple insurers. This could save you a pretty penny so that you can enjoy your Alfa Romeo with less associated expense.

Methodology

Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record, credit and the following comprehensive coverage limits:

  • $ 100,000 liability for bodily injury per person
  • $ 300,000 in civil liability for bodily injury per accident
  • Civil liability for property damage of $ 50,000 per accident
  • $ 100,000 in bodily injury caused by an uninsured motorist per person
  • $ 300,000 in uninsured bodily injury per accident to a motorist
  • $ 500 collision deductible
  • Global deductible of $ 500

To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our base profile drivers own a 2019 Alfa Romeo of the following model types, commute five days a week and drive 12,000 miles a year:

  • Alfa Romeo Guilia
  • Alfa Romeo Spider
  • Alfa Romeo Stelvio

These are sample rates and should only be used for comparison purposes.


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Hub acquires Canadian credit risk brokerage firm Canadian Underwriter https://business-continuity-and-disaster-recovery-world.co.uk/hub-acquires-canadian-credit-risk-brokerage-firm-canadian-underwriter/ https://business-continuity-and-disaster-recovery-world.co.uk/hub-acquires-canadian-credit-risk-brokerage-firm-canadian-underwriter/#respond Thu, 03 Jun 2021 20:03:18 +0000 https://business-continuity-and-disaster-recovery-world.co.uk/hub-acquires-canadian-credit-risk-brokerage-firm-canadian-underwriter/

Hub International Limited announced the acquisition of Global Credit Risk Management Inc. (GCRM), a pan-Canadian independent accounts receivable and political risk insurance broker.

With a national presence and offices in Ontario and Alberta, GCRM ​​provides accounts receivable insurance and advisory services to businesses of all sizes. Customers include manufacturers, commodity traders, the service industry, financial professionals, Canadian banks and other financial intermediaries.

Hub announced Thursday the acquisition of GCRM; terms of the transaction were not disclosed. GCRM directors – John Middleton, Athan Bardis and Eric Pilon – and their team will join Hub Ontario and report to the Ontario leadership team.

“GCRM joins Hub supports its specialist practices, including financial institutions, by complementing and strengthening Hub’s comprehensive and in-depth offering to all industries, banks, credit institutions and investment firms,” Hub said in a June 3 press release.

Accounts receivable insurance protects receivables from losses resulting from defaults, insolvency or repudiation by buyers and cancellation of import export permits, GCRM ​​explained on its report. website. Insurance protects a company’s most liquid non-cash asset against bad debt losses and improves borrowing capacity, as financial institutions will lend more on insured accounts receivable (up to 90%) .

Political risk insurance is a risk transfer tool to protect a company’s sales, assets and investments abroad against losses resulting from:

  • Currency invertibility – the inability to convert a foreign currency into a contract currency, or to transfer hard currency out of a foreign country
  • Government cancellation of export or import permits
  • War or civil unrest in foreign markets
  • Breach of contract
  • Expropriation, confiscation, nationalization and deprivation of property rights or control over assets
  • Non-payment by a sovereign buyer

The advantages of this type of insurance include protecting foreign assets and investments against losses resulting from unforeseen actions of a foreign government and reducing the risk of establishing a presence abroad or in the world.

Featured image by iStock.com/champlifezy@gmail.com


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“Export credit agencies can accelerate economic recovery” – News https://business-continuity-and-disaster-recovery-world.co.uk/export-credit-agencies-can-accelerate-economic-recovery-news/ https://business-continuity-and-disaster-recovery-world.co.uk/export-credit-agencies-can-accelerate-economic-recovery-news/#respond Wed, 02 Jun 2021 17:13:25 +0000 https://business-continuity-and-disaster-recovery-world.co.uk/export-credit-agencies-can-accelerate-economic-recovery-news/

Etihad Credit Insurance CEO Highlights Role of Credit Agencies in Supporting Growing Small Businesses

The role of export credit agencies is vital in accelerating post-pandemic economic recovery through exports, re-exports, project development and investments, said Massimo Falcioni, CEO of Etihad Credit Insurance.

Speaking at the Global Investment Forum hosted by Khaleej Times, he said: “The aim of these institutions is to help companies grow in international trade by bridging the gap and helping companies access finance. .

He explained that Etihad Credit Insurance (ECI) is the United Arab Emirates federal export credit company established in accordance with the UAE Vision 2021, which aims to implement policies of economic diversification and reduce dependence on petroleum resources as a source of income. The main objective of the ICE according to the provisions of its statute published by the Cabinet is to guarantee the commercial and non-commercial risks associated with the export and re-export of goods and services.

“At ECI, our role is to complement, not compete with the private sector,” said Falcioni. “In this way, we support smaller and growing businesses and protect economic cycles. We are a facilitator who remains committed to national and regional markets. We are also a catalyst for the “Operation 300 Billion” industrial strategy, which is a comprehensive 10-year strategy that aims to empower and develop the UAE industrial sector to become the driving force of a national economy. sustainable, increasing its contribution to GDP from 133 billion dirhams to 300 billion dirhams by 2031.

He added that there are several areas that nations need to focus on for a better future. These include agriculture, water treatment, renewable energies, medicine and health, aluminum and steel. “An export ecosystem focused on global product competitiveness is vital for a stable and growing economy. “

rohma@khaleejtimes.com

Rohma Sadaqat

I am a journalist and deputy editor in the Khaleej Times business office. I mainly cover and write articles on the retail, hospitality, travel and tourism industries in the UAE. Originally from Lahore, I have lived in the United Arab Emirates for over 20 years. I graduated with a BA in Mass Communication, with a concentration in Journalism and a double minor in History and International Studies from the American University of Sharjah. If you see me on a mission to Dubai, please stop by, say hello, and we can discuss the latest kitten videos on YouTube.



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Commercial Insurance Market Forecast to 2026 https://business-continuity-and-disaster-recovery-world.co.uk/commercial-insurance-market-forecast-to-2026/ https://business-continuity-and-disaster-recovery-world.co.uk/commercial-insurance-market-forecast-to-2026/#respond Wed, 02 Jun 2021 10:50:58 +0000 https://business-continuity-and-disaster-recovery-world.co.uk/commercial-insurance-market-forecast-to-2026/

Global Commercial Insurance Market 2021 report share informative data figures as well as important information with COVID19 impact analysis regarding some of the components of the market that are considered the future architects of course for the market. This includes factors such as market size, market share, market segmentation, important growth drivers, market competition, various aspects having an impact on the economic cycles of the market, the demand, the expected declines in activity, the evolution of customer sentiments, key companies operating in the commercial insurance market, etc. In order to provide a complete understanding of the global market, the report also shares some of the useful details regarding the significant regional and country-specific markets. The report presents a 360-degree overview and SWOT analysis competitive landscape of industries.

Major Key Players of the Commercial Insurance Market Covered in the Report:

Aon United Kingdom
Coface
AIG
Guarantor
Atradius
Zurich
Novae plc Group
Argo Caution
BT SACE
Travelers
QBE
HCC International
Euler Hermes
Groupama Credit Insurance
AS
Wednesday

Key segmentation of the commercial insurance market:

On the basis of types, the commercial insurance market from 2015 to 2025 is majorly split into:

Property / freight insurance
Product Liability Insurance
Foreign exchange insurance
Trade credit insurance
Debtors insurance
Accounts Receivable Insurance
Other

Based on applications, the Professional Insurance market from 2015 to 2025 covers:

Large companies
SME

Commercial insurance market region primarily focusing on:

– Europe Trade Insurance Market (Austria, France, Finland, Switzerland, Italy, Germany, Netherlands, Poland, Russia, Spain, Sweden, Turkey, United Kingdom),
– Asia-Pacific and Australia commercial insurance market (China, South Korea, Thailand, India, Vietnam, Malaysia, Indonesia and Japan),
– The commercial insurance market in the Middle East and Africa (Saudi Arabia, South Africa, Egypt, Morocco and Nigeria),
– Latin America / South America commercial insurance market (Brazil and Argentina),
– Commercial insurance market in North America (Canada, Mexico and United States)

(A free data report (as an Excel spreadsheet) will also be provided upon request with a new purchase.)

Factors such as industry value chain, key consumer trends, recent patterns of customer behavior, overall spending capacity analysis, market expansion rate, etc. The report also incorporates premium data figures associated with industry financial figures including market size (in USD), expected growth in market size (in percentage), sales data, turnover, etc. This could allow readers to make decisions faster with data and information at their fingertips.

Highlights of Commercial Insurance Market Research:

Estimated Revenue and Sales –
Historical revenue and transaction volume are displayed and support information is triangulated with the best core and core methods to process market metric of finishing digits and to estimate guess numbers for key areas wrapped in Commercial Insurance report alongside organized and highly regarded types and purposes use industry. In addition, macroeconomic factors and administrative procedures are explained in the advancement of the commercial insurance industry and in an insightful review.

Assembly analysis –
The Commercial Insurance report is currently broken down into different types and applications. The Commercial Insurance market gives a section presenting the review of the approved assembly procedure by means of essential data gathered by industry specialists and key authorities of profiled organizations.

Competition analysis –
Commercial insurance The main players were considered based on their organization profile, item portfolio, limit, item value / benefit, offerings and cost / benefit.

Demand and supply and efficiency –
The trade insurance report further supports production, consumption and (export and import).

Main points covered in the table of contents:

• Overview of the commercial insurance market
• Competition in the global commercial insurance market by manufacturers
• Global market share of commercial insurance production by regions
• Global commercial insurance consumption by regions
• Global commercial insurance production, revenue, price trend by type
• Global Commercial Insurance Market Analysis by Applications
• Company profiles and key figures of the commercial insurance sector
• Analysis of commercial insurance manufacturing costs
• Marketing channel, distributors and customers
• Market dynamics
• Forecast of the global commercial insurance market
• Research results and conclusion
• Methodology and data source

In a nutshell, the Commercial Insurance Market report provides significant statistics on the state of the Commercial Insurance industry with a valuable source of advice and guidance for businesses and individuals interested in the market. In the end, the Commercial Insurance Market report provides conclusion which includes the research findings, assessment of market size, global market share, consumer needs as well as changing preferences. customers, the data source. These factors will increase the growth of the business as a whole.

Any query? Inquire here for a discount or customization of the report

Contact us:

The Web:www.qurateresearch.com
E-mail:[email protected]
Phone: United States – +13393375221

Note: In order to provide a more accurate market forecast, all of our reports will be updated prior to delivery taking into account the impact of COVID-19.

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China on track to become Pakistan’s largest foreign investor https://business-continuity-and-disaster-recovery-world.co.uk/china-on-track-to-become-pakistans-largest-foreign-investor/ https://business-continuity-and-disaster-recovery-world.co.uk/china-on-track-to-become-pakistans-largest-foreign-investor/#respond Fri, 28 May 2021 20:50:00 +0000 https://business-continuity-and-disaster-recovery-world.co.uk/china-on-track-to-become-pakistans-largest-foreign-investor/

Islamabad – China is set to become Pakistan’s largest foreign investor after the government recently decided to grant special incentives to Chinese investors to speed up the country’s industrialization.

In-depth talks with industry sources have revealed that China is believed to be the investment leader in Pakistan, which has unveiled special concessions for Chinese investors.

These concessions largely include two-year business visas and the priority given to Chinese investment firms through a one-stop-shop.

Pakistan on Friday launched the commercialization of the “Rashakai Special Economic Zone (RSEZ)” project under the CPEC, in which the Chinese company Century Steel Private Limited would make an investment of $ 366 million.

Chinese private companies would also be encouraged to invest in other special economic zones being developed under the CPEC across Pakistan.

Interestingly, the Rashakai Special Economic Zone (RSEZ), due to its strategic location, would eventually link CPEC to Afghanistan. “Negotiations with the Afghan authorities are underway in this regard,” a senior government official told The Nation.

He pointed out that the trade and investment ties between Pakistan and China would usher in a new era of regional development, prosperity and connectivity as the flagship of the Visionary Belt and Road Initiative (BRI) of the President Xi Jinping.

The official added that the China Export and Credit Insurance Corp (SINOSURE) would also play a key role in the industrialization of Pakistan.

Asked how Chinese companies invest, the official said joint ventures between the private sectors of the two countries would be encouraged for the transfer of the latest technology to Pakistan.

With private sector investment, Pakistan’s industrialization process would be enhanced in addition to creating jobs and boosting Pakistani exports.

A Chinese company has also unveiled a plan to create a “Pakistani Pakistani industrial park” in Lahore or Karachi, and the project is being planned.

Pakistan has also signed a number of agreements with the Chinese government to benefit from its expertise in agriculture and the number of projects being planned.

Experts estimated that this bilateral cooperation would also give a huge boost to Pakistan’s agricultural sector, which, although in ruins, accounts for 25 percent of the country’s GDP.

Under the flagship China-Pakistan Economic Corridor (CPEC) project, China has so far invested $ 13 billion and is expected to invest an additional $ 12 billion over the next few years.

Chinese investments under CPEC have largely gone to energy infrastructure and road connectivity.


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State aid: Commission approves German 10 billion euro scheme to compensate companies for damage suffered as a result of the coronavirus epidemic – The European Sting – Critical News & Insights on European Politics, Economy, Foreign Affairs , Business & Technology https://business-continuity-and-disaster-recovery-world.co.uk/state-aid-commission-approves-german-10-billion-euro-scheme-to-compensate-companies-for-damage-suffered-as-a-result-of-the-coronavirus-epidemic-the-european-sting-critical-news-insights-on-euro/ https://business-continuity-and-disaster-recovery-world.co.uk/state-aid-commission-approves-german-10-billion-euro-scheme-to-compensate-companies-for-damage-suffered-as-a-result-of-the-coronavirus-epidemic-the-european-sting-critical-news-insights-on-euro/#respond Fri, 28 May 2021 15:49:22 +0000 https://business-continuity-and-disaster-recovery-world.co.uk/state-aid-commission-approves-german-10-billion-euro-scheme-to-compensate-companies-for-damage-suffered-as-a-result-of-the-coronavirus-epidemic-the-european-sting-critical-news-insights-on-euro/

(Credit: Unsplash)

This article is presented to you in association with the European Commission.


The European Commission has ruled that a € 10 billion German scheme to compensate companies for damage related to the coronavirus outbreak complies with EU state aid rules.

Executive Vice President Margrethe Vestager, responsible for competition policy, said: “This The 10 billion euro scheme allows Germany to compensate, at least in part, companies in all sectors for the damage suffered and the emergency measures taken to limit the spread of the coronavirus. We continue to work closely with Member States to find viable solutions to support businesses in these difficult times, in line with EU rules. “

Under this scheme, companies in all sectors will be entitled to compensation for certain damages suffered as a result of the complete closure of their activities as a result of the coronavirus epidemic and the restrictive measures that the German government had to have. set up to contain the spread of the virus. . The compensation period will depend on the implementation of restrictions between March 16, 2020 and December 31, 2021. Compensation, in the form of direct grants, can cover up to 100% of the actual damage suffered by beneficiaries during the eligible period. period, and can only be granted after the damage has occurred.

The Commission assessed the measure against Article 107 (2) (b) of the Treaty on the Functioning of the European Union (TFEU), which allows the Commission to approve State aid granted by Member States to compensate specific companies or sectors for damage directly caused by exceptional events.

The Commission considers the coronavirus epidemic to be considered an exceptional event, as it is an extraordinary and unforeseeable event with a significant economic impact. Consequently, exceptional interventions by Member States to compensate for the damage directly linked to the epidemic are justified.

The Commission has found that the German aid scheme will compensate the damage directly linked to the coronavirus epidemic. The Commission also considered that the measure was proportionate, as the compensation envisaged does not exceed what is necessary to repair the damage.

The Commission therefore concluded that the scheme complies with EU state aid rules.

Background

Aid granted under the measure approved today can be combined with other aid for the compensation of eligible damage during the eligible period between 16 March 2020 and 31 December 2021, and with aid under state aid Temporary frame, up to a maximum amount of aid equal to 100% of the eligible damage. The other aid with which this measure can be combined includes aid already approved by the Commission on the basis of the temporary framework under the ‘Third modified federal scheme on small grants 2020’ (SA.56790, last amended by SA.61744), the “Federal subsidized loan scheme 2020” (SA.56863, last amended by SA.61744), the “Federal Guarantee Scheme 2020” (SA.56787, last amended by SA.61744), the “Federal scheme on fixed costs not covered 2020” (SA.59289, last amended by SA.61744), the “Federal scheme for recapitalization measures and subordinated loans 2020” (SA.58504, last amended by SA.61744), as well as the aid approved on the basis of Article 107 (2) (b) TFEU under the “Federal Damage Compensation Scheme for the November and December 2020 foreclosure” (SA.60045).

Financial support from the EU or from national funds to health services or other public services to tackle the coronavirus situation does not fall under state aid control. The same goes for any public financial support granted directly to citizens. Likewise, public support measures available to all businesses, such as for example wage subsidies and the suspension of the payment of corporate taxes and value added or social contributions, do not fall under the control of government aid. State and do not require Commission approval under EU state aid rules. In all these cases, Member States can act immediately.

Where state aid rules apply, Member States may design aid measures sufficient to support specific companies or sectors suffering from the consequences of the coronavirus outbreak, in accordance with the existing aid framework. ‘State of the EU. On March 13, 2020, the Commission adopted a Communication on a coordinated economic response to the COVID-19 epidemic setting out these possibilities.

In this regard, for example:

  • Member States may compensate specific companies or sectors (in the form of schemes) for damage suffered due and directly caused by exceptional events, such as those caused by the coronavirus epidemic. This is provided for in Article 107 (2) (b) TFEU.
  • State aid rules based on Article 107 (3) (c) TFEU allow Member States to help businesses cope with liquidity shortages and in need of assistance urgent rescue.
  • This can be complemented by various additional measures, such as the de minimis Regulation and the General Block Exemption Regulation, which can also be put in place immediately by Member States, without intervention by the Commission.

In the event of a particularly serious economic situation, such as the one currently facing all Member States due to the coronavirus epidemic, EU state aid rules allow Member States to grant aid for remedy a serious disruption in their economy. This is provided for in Article 107 (3) (b) of the TFEU of the Treaty on the Functioning of the European Union.

On March 19, 2020, the Commission adopted a Temporary framework for state aid on the basis of Article 107 (3) (b) TFEU to allow Member States to use the full flexibility provided by State aid rules to support the economy in the context of the coronavirus epidemic. The temporary framework, as amended on April 3, May 8, June 29, October 13 2020 and January 28, 2021, provides for the following types of aid, which may be granted by Member States: (i) direct grants, equity injections, selective tax advantages and advance payments; (ii) State guarantees for loans taken out by companies; (iii) subsidized public loans to enterprises, including subordinated loans; iv) Safeguards for banks channeling state aid to the real economy; (v) Short-term public export credit insurance; (vi) support for research and development (R&D) related to coronaviruses; (vii) Support for the construction and scaling of testing facilities; (viii) Support for the production of relevant products to fight against the coronavirus epidemic; (ix) Targeted support in the form of deferral of tax payments and / or suspensions of social security contributions; (x) Targeted support in the form of wage subsidies for employees; (xi) Targeted support in the form of equity and / or hybrid instruments; (xii) Coverage of uncovered fixed costs for companies facing a drop in turnover in the context of the coronavirus epidemic.

The temporary framework will be in place until the end of December 2021. In the interests of legal certainty, the Commission will assess before this date whether it should be extended.

The non-confidential version of the decision will be made available under file number SA.62784 in the State aid register on the Commission competition website once all privacy concerns have been resolved. New publications of State aid decisions on the Internet and in the Official Journal are listed in the Weekly e-News contest.

You will find more information on the temporary framework and other measures taken by the Commission to deal with the economic impact of the coronavirus pandemic here.


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Global Trade Review lists the Beitbridge project among the best deals of the year ⋆ Pindula News https://business-continuity-and-disaster-recovery-world.co.uk/global-trade-review-lists-the-beitbridge-project-among-the-best-deals-of-the-year-%e2%8b%86-pindula-news/ https://business-continuity-and-disaster-recovery-world.co.uk/global-trade-review-lists-the-beitbridge-project-among-the-best-deals-of-the-year-%e2%8b%86-pindula-news/#respond Fri, 28 May 2021 14:48:52 +0000 https://business-continuity-and-disaster-recovery-world.co.uk/global-trade-review-lists-the-beitbridge-project-among-the-best-deals-of-the-year-%e2%8b%86-pindula-news/

The Global Trade Review, the global trade finance magazine, named the US $ 296 million project to modernize the Beitbridge border crossing among its 11 best global deals of the year.

Global Trade Review selects the best deals on the market from the previous 12 months.

According to the magazine, the winning deals “feature a mix of trade, commodity, supply chain and export finance, as well as fintech-focused deals.”

Zimborders, a consortium of local businesses, is leading the project to build a new border post.

The project includes, as part of the agreement, the construction of new public facilities in the town of Beitbridge.

Zimbabwe has given contractors, including the prime contractor, the JSE-listed construction company Raubex until the end of 2021 to modernize the post.

According to RMB, the modernization of the Beitbridge border post ensures a more efficient trading system in southern Africa as the crossing is the gateway to Zimbabwe and the SADC region.

The transaction consists of US $ 194 million of a senior credit facility, plus US $ 21.9 of equity.

The main arrangers appointed for the transaction are Absa, Nedbank, RMB, Standard Bank. Lenders include Absa, Afreximbank, Emerging Africa Infrastructure Fund (EAIF).

The Export Credit Insurance Corporation (ECIC), the South African Export Credit Agency (ECA), acted as the business and political risk insurer for the senior credit facility and, alongside Afreximbank , was a political risk provider for a portion of equity. and loan investments. Global Trade Review said:

_By structuring tranches with OCEs, banks were able to offer competitive financing conditions thanks to longer terms and lower interest rates ._

_The complex transaction took nearly three years to structure and negotiate with the various public and private entities involved.

Other GTR Agreement of the Year winners include the Cairo Monorail; the £ 2.4 billion Dogger Bank wind farm in the UK; Enel Green Power supply chain program in Mexico; Northvolt, a Swedish startup developing lithium-ion batteries; and the Tanzania Standard Gauge Railway.

Find out more: Pindula News; NewzWire


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“ The Beitbridge project among the best offers of the year ” https://business-continuity-and-disaster-recovery-world.co.uk/the-beitbridge-project-among-the-best-offers-of-the-year/ https://business-continuity-and-disaster-recovery-world.co.uk/the-beitbridge-project-among-the-best-offers-of-the-year/#respond Fri, 28 May 2021 07:42:16 +0000 https://business-continuity-and-disaster-recovery-world.co.uk/the-beitbridge-project-among-the-best-offers-of-the-year/

The World Trade Review, the global trade finance magazine, named the US $ 296 million project to rebuild the Beitbridge border post among its 11 best global deals of the year.

World Trade Review selects the best offers on the market of the last 12 months.

According to the magazine, the winning deals “feature a mix of trade, commodity, supply chain and export finance, as well as fintech-focused deals.”

Zimborders, a consortium of local businesses, is leading the project to build a new border post.

The project includes, as part of the agreement, the construction of new public facilities in the town of Beitbridge. The main contractor is the construction company Raubex, listed on the JSE.

The transaction consists of US $ 194 million of a senior credit facility, plus US $ 21.9 of equity.

The main arrangers appointed for the transaction are Absa, Nedbank, RMB, Standard Bank. Lenders include Absa, Afreximbank, Emerging Africa Infrastructure Fund (EAIF). The Export Credit Insurance Corporation (ECIC), the South African Export Credit Agency (ECA), acted as the business and political risk insurer for the senior credit facility and, alongside Afreximbank , was a political risk provider for a portion of equity. and loan investments.

“By structuring tranches with OCEs, banks were able to offer competitive financing terms through longer terms and lower interest rates,” says Global Trade Review.

“The complex operation took nearly three years to structure and negotiate with the various public and private entities involved.

According to RMB, the modernization of the crossing point guarantees a more efficient trading system in southern Africa as the border post is “not only the gateway to Zimbabwe but also to Zambia, Malawi and the DRC”.

“Amid the global Covid-19 pandemic, the oil crash, degradations in various countries in sub-Saharan Africa, shortages of US dollar funding and the currency crisis in Zimbabwe, the project has managed to circumvent these obstacles and reach financial close ”said RMB.

Other GTR Agreement of the Year winners include the Cairo Monorail; the £ 2.4 billion Dogger Bank wind farm in the UK; Enel Green Power supply chain program in Mexico; Northvolt, a Swedish startup developing lithium-ion batteries; and the Tanzania Standard Gauge Railway. – newZWire


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Appetite for Africa: discovering new opportunities https://business-continuity-and-disaster-recovery-world.co.uk/appetite-for-africa-discovering-new-opportunities/ https://business-continuity-and-disaster-recovery-world.co.uk/appetite-for-africa-discovering-new-opportunities/#respond Thu, 27 May 2021 12:05:29 +0000 https://business-continuity-and-disaster-recovery-world.co.uk/appetite-for-africa-discovering-new-opportunities/

Picture [helloitsme]© 123RF.com

With the world’s attention firmly fixed on the COVID-19 pandemic, the good news is lacking. However, writes Oliver Wright, director of BPL Global, through a credit and political risk insurance (CPRI) lens, one region has shown resilience in the face of economic volatility: Africa.

The article appeared in ESI Africa Number 1-2021.
Read the full digimag or subscribe to receive a free printed copy.

The continent continues to be exposed to political instability and violence, while its economies remain susceptible to shocks such as Zambia’s recent sovereign default. Conversely, BPL Global’s experience in 2020 and early 2021 shows that the appetite of CPRI clients and underwriters to venture into new African transactions has remained strong.

Support established

As the implications of COVID-19 began to become apparent, governments rushed a series of financial buffers to help absorb the fallout. From the G20 Debt Service Suspension Initiative (DSSI), which suspends some $ 11.5 billion in debt repayments owed by 73 Paris Club debtor countries, to the temporary relaxation of the consensus rules of the OECD by numerous Export Credit Agencies (ECAs), the MIGA’s $ 6.5 billion Fast Track Facility, the $ 3 billion Afreximbank Support Facility and the CDC’s recent announcement of a £ 1billion development initiative for Africa, there is a clear will to help Africa navigate its way through the crisis.

BPL Global has found that the flow of investigations and the number of related policies over the past year supports the widespread anecdotal view within the financial community that African deals are still being closed and that the private market for CPRIs is ‘is intensified. This has been driven by clients and insurers who are looking for structured, affordable deals with strong fundamentals.

Obvious interest

Indeed, Africa represents BPL Global’s largest regional exposure with around $ 9 billion in global insured ceilings as of February 2021. Despite a reduction of around 20% year-on-year, over the past 12 in the last few months we have received around 450 formal requests for Africa.

Two-thirds of this total came from banks, with the remainder being split between commodity traders (20%) and exporters and businesses (14%). Business inquiries continue on established trends, with strong demand for traditional PRI for energy projects – particularly solar and wind, and on the mining side, for battery minerals.

In addition, requests are for almost every country in Africa – the most popular being Côte d’Ivoire, Ghana, Nigeria, Egypt and Senegal.

Underwriters have tightened their underwriting criteria in terms of insurer interest, choosing to support sovereign or sub-sovereign debtors with a preference for transactions with the ECA, DFIs or multilateral involvement (60% of bank inquiries) . It was therefore more difficult to obtain support for transactions with private debtors as insurers.

Policies abound

Critically, the appetites of customers and insurers have also translated into reality. In 2020, we found 82 new policies where the “country at risk” was in Africa, with an overall limit of $ 2.4 billion. The most common risk countries in these policies are Côte d’Ivoire, Ghana and Nigeria.

While commodity finance remains the engine of many African economies and commodity traders, we have completed deals in Nigeria, Ghana, Tunisia, Equatorial Guinea, Gabon, Morocco, Burkina Faso and Libya . In addition, and despite a significant reduction in transactions related to exporters, given that many large projects were put on hold during the pandemic, we also made deals in Benin, Egypt, Togo and Ethiopia. ESI

www.bpl-global.com


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Key projects in agriculture face funding shortage | New times https://business-continuity-and-disaster-recovery-world.co.uk/key-projects-in-agriculture-face-funding-shortage-new-times/ https://business-continuity-and-disaster-recovery-world.co.uk/key-projects-in-agriculture-face-funding-shortage-new-times/#respond Wed, 26 May 2021 22:07:53 +0000 https://business-continuity-and-disaster-recovery-world.co.uk/key-projects-in-agriculture-face-funding-shortage-new-times/

the government allocated RWF 137.5 billion to the agricultural sector in FY2021/22, which represents 3.6 percent of the total proposed budget of RWF 3.807 billion for the year.

Agricultural spending, which comes as the economy grapples with its worst slowdown since 1994, has been deemed insufficient by industry policymakers, who have argued for increased spending to support productivity.

It also does not meet the threshold of the Comprehensive Africa Agriculture Development Program, which recommends that each African country devote at least 10% of its national budget to agriculture.

According to officials from the Ministry of Agriculture, limited funding to the sector risks undermining efforts to implement the Fourth Strategic Plan for Agricultural Transformation.

The strategic plan, which runs from 2018 to 2024, requires a minimum annual investment of 450 billion Rwandan francs to accelerate the growth of the sector and halve the country’s poverty rate – currently estimated at 38.2%.

Rwanda, which generated $ 419.1 million in agricultural exports in 2019/2020, plans $ 1 billion by 2024, and with limited funding, officials have warned the target could be out of reach .

If funding is not increased, here are the six services that will be affected.

Extension of agricultural insurance

This activity aims to provide subsidies to farmers for crop insurance on 7,420 hectares and livestock insurance coverage for 81,982 farm animals including 9,000 cows; 3,000 pigs and 68,982 chickens.

However, if the allocated budget of Rwf 268.5 million is not increased, this target will not be achieved as it needs Rwf 814 million. These figures imply that she received less than a third of the required funding.

The project aims to protect farmers against losses caused by disease and accidents.

It also aims to reduce agricultural risk and free up financial institutions that previously had access to credit to farmers.

Gerardine Mukeshimana, Minister of Agriculture, said this year the sector has RWF 1 billion in commercial bank loans thanks to the insurance scheme.

“If no increase is made to the allocated funds, the insurance coverage for livestock and crops will be lower and the situation will also lead to a decrease in loans and investments in agriculture,” Mukeshimana told lawmakers. last week during the budget hearing with the Chamber of Deputies Committee on the national budget and heritage.

Crop intensification program

Interventions under the Crop Intensification Program (CIP) aim to increase the productivity of the main selected crops, including maize, beans, rice, wheat, cassava and Irish potatoes.

In 2021/2022, the ministry’s plan was to distribute 5,294 tonnes of subsidized quality seeds, 50,924 tonnes of fertilizer and 15,211 tonnes of lime to farmers.

Other interventions foreseen in the project include support for the multiplication of quality seeds at the national level, as well as soil tests on 5000 hectares in accordance with the initiative to use appropriate fertilizers that meet the nutrient needs for different types of soils in the country.

It also seeks to strengthen agricultural extension services to help farmers improve their agricultural yields.

The total funding requirement for this activity is RWF 35.6 billion, but she received RWF 19.9 billion, which means she got just over half of the funding she needed. This amount includes 14 billion Rwf for the use of fertilizers alone, against 23.1 billion Rwf which was needed.

With that, the average fertilizer use would reach 60 kilograms per hectare next year, up from around 45 kilograms per hectare in 2020, while 67 percent of farmers would use quality seeds.

With very limited funding, the ministry said the goal of increasing agricultural productivity by 8% for each crop selected will not be possible and that the impact of Covid-19 will continue to weaken the country’s economy by due to low agricultural production.

Patrick Karangwa, director general of the Rwandan Council of Agriculture (RAB), said seeds and fertilizers are the main drivers of agricultural productivity, calling for efforts to close the budget gap they face.

Aquaculture and Fisheries

This activity was allocated to around Rwf 1 billion, but it needed Rwf 5.7 billion.

Its goal was to produce 40 million fry (young fish that grew to about the size of a finger) and store 14 million fry in lakes and [fish] ponds.

This activity, Mukeshimana said, could help the country get rid of its dependence on imported fish.

“If we are able to plant fry in different ponds among communities, and in valley dams used for rice irrigation, it can help increase our fish production,” she said.

“This can allow us to be self-sufficient in terms of fishery products and to obtain a surplus for the market, because we have the potential to [fish] exports especially to neighboring countries, ”she said.

Rwanda’s annual fish production is expected to more than triple, from 31,460 tonnes in 2017/2018 to 112,000 tonnes in 2023/2024, under PSTA4.

Coffee production

Claude Bizimana, director general of the National Council for the Development of Agricultural Exports (NAEB), said the NAEB requested 4.6 billion francs for coffee production in the next fiscal year, but that only 220 million francs, or about 4.7 percent, were provided.

This small funding, the NAEB said, will be used for “very urgent activities” such as the purchase of pesticides / fungicides and snares to control diseases and pests that attack coffee.

The funding the institution needed included 2.8 billion Rwf to subsidize 5,000 tonnes of fertilizer to increase coffee productivity. With the little funding allocated, Bizimana said, it will not be possible to carry out such an activity.

Bizimana indicated that this [fertiliser application] would help the country achieve the expected production of 27,000 tonnes of coffee and generate 78 billion rww in coffee export earnings.

He explained that it was estimated that the lack of availability of fertilizers will likely reduce the projected coffee production by 13 percent for next year and 30 percent for the following year, as coffee trees have not. received the necessary nutrients.

“This is a major concern because it implies that we could not get the income [we were expecting from coffee exports],” he said.

MP Christine Bakundufite said there are main activities that should not be overlooked in the agricultural sector, citing fertilizers, seedlings and irrigation, indicating that agriculture would be a neglected sector if they are not available.

“Given the funding allocated to the NAEB, it would not be able to fulfill its responsibilities including coffee production and exports in the years to come,” she said, citing the old coffee trees. which should be replaced as they are less productive.

Horticultural development

The NAEB had requested more than 1.7 billion Rwandan francs to support the development of horticulture. The money would be spent on interventions such as pesticides / fungicides with the aim of increasing the quality and quantity of horticultural products, as well as finding new export markets for the products and expanding existing ones. .

However, the institution only received Rwf 128 million for these activities.

This lack of funding, said the NAEB, will hamper the implementation of planned activities, including the lack of means to obtain the avocado and macadamia plants needed to expand the plantations for these two crops, as well as the inability to generate 55 million dollars (around 55 billion francs) in horticulture. export income.

integrenganya@newtimesrwanda.com




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