ANNOUNCEMENT 04 Jan 2019

The Australian EXIM bank announced the approval of a loan worth AUD 16.35 million (over USD 11.6 million at the time of the announcement) to support the exports of a local construction company. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Efic, Transaction register for 1 July 2018-20 December 2018. Available at: https://www.efic.gov.au/media/5365/signing-summary-web-version-2019-01-04-08-10-05.pdf

GCR Mongolia. Projects. Available at: https://www.gcrmongolia.mn/projects

Inception date: 20 Dec 2018 | Removal date: open ended
Still in force

Trade finance

On 4 January 2019, the Australian export credit agency Efic has issued a transaction register of trade finance transaction beneficiaries covering operations made in the period 1 July 2018 up until 20 December 2018.

One of these beneficiaries was RUC Cementation Mining Contractors Pty Ltd, which was offered a loan of a total value of AUD 16.35 million (over USD 11.6 million) for financing the export of construction services to Mongolia.

According to the website of GCR Mongolia, the Mongolian branch of RUC Cementation Mining Contractors Pty Ltd, its projects in Mongolia relate to civil engineering works such as "bulk earthworks and final grading, construction of access, detailed earthworks and concrete foundations, all necessary supply, installation of fire hydrants, pipe and cable laying, installation of electrical equipment, tank repair and lining and installation of a wastewater collection system."

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A