Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-05-Speech-2-268-593"
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"en.20110405.13.2-268-593"2
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Export credit agencies (ECAs) account for the world’s largest source of official financing for private-sector projects. They are government agencies or quasi-official financial institutions that provide export credits, loans, insurance and investment guarantees for companies operating in high-risk areas abroad, including many developing countries.
It should be noted that financing of such major projects in developing countries represents several times the combined annual funding of all multilateral development banks. ECAs are therefore instruments that are well placed to contribute to EU foreign policy objectives, in particular the alleviation of poverty and climate change. I believe the improvements to the agreement in question to be positive, particularly with regard to greater transparency, and I believe it essential to state explicitly that ECAs should take into account and respect EU policies and objectives, not least values associated with the consolidation of democracy, respect for human rights and consistency with development policy. While, on the one hand, ECAs facilitate trade, they could, on the other, cause it to be distorted in the absence of clear and transparent criteria and rules."@en1
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