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EFIC expands
01 November 2002
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[project finance]
[project finance]
The Australian ECA, Export Finance and Insurance Corporation (EFIC)
is in expansion mode. The export finance business, which
encompasses all medium and long-term credit, reported a 20% growth
for fiscal year ending June 2002. Despite predicting a flatter year
coming up, due largely to shrinking deal flow and increased local
currency availability in its traditional stamping ground of Asia,
the organisation is confident that it can respond to changing
market demands. Flexibility is the name of the game.
Change is afoot on several fronts. The short-term credit insurance
division is in advanced stages of securing an alliance with NCM
Gerling. This will allow EFIC to benefit from technological
know-how and capacity in the private sector. Angus Armour, general
manager of export finance says, ?Across all business lines we seek
to encourage the involvement of the private sector.?
The export finance business has no such plans as yet, but changing
market...
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