ANNOUNCEMENT 25 Aug 2016

On 25 August 2016, the Australian export credit agency Efic published its 2015/16 annual report. The report included a list of all beneficiaries of trade finance for the given fiscal year.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Efic - finance for Australian exports, Annual Report 2015/16: https://www.efic.gov.au/media/3484/efic-annual-report-2015-2016.pdf

Oyu Tolgoi, About Us, Our Company: http://ot.mn/our-company-en/?eoi

Inception date: 01 Jul 2015 | Removal date: open ended
Still in force

Trade finance

One of these beneficiaries was Mongolian Oyu Tolgoi, which was offered a loan worth AUD 206.30 million (USD 153.60 million) for the import of mining equipment and services to Mongolia.

In this context, the Efic noted that: "We continue to provide funding to large-scale projects where Australian SMEs will benefit from export contracts. This year we contributed to financing the expansion of the Oyu Tolgoi gold and copper mine in Mongolia, with a direct loan of US$150 million."

Given that Efic does not provide the exact date that the trade finance deal was signed the most conservative date, i.e. 1 July 2015, was set as the inception date.

AFFECTED SECTORS

 

AFFECTED PRODUCTS