ANNOUNCEMENT 27 Aug 2015In August 2015, the government of Australia announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
Efic Annual Report 2014/15
On 27 August 2015, the Australian export credit agency Efic published its 2014/15 annual report. The report included a list of all beneficiaries of trade finance for the given fiscal year.
One of these beneficiaries was Wellard Rural Exports Pty Ltd, which was offered a funded export finance guarantee worth 21.4 million AUD for a dairy cattle and related infrastructure project in Sri Lanka.
Given that Efic does not provide the exact date that the trade finance deal was signed, the most conservative date, i.e. the 30 June 2015, was set as the inception date.
No affected trading partners were selected as Sri Lanka has in recent years imported cattle worth at least 1 million USD only from Australia.