ANNOUNCEMENT 24 May 2012In May 2012, the government of Australia announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
EFIC increases support for Australian contribution to Russian cattle stock rebuilding project
Australia's Export Credit Agency, the Export Finance and Insurance Corporation (EFIC) provided (according to a media release of 24 May 2012) an export finance guarantee amounting at USD 47.5 million to the Russian Bryansk Meat Company (part of Miratorg Agribusiness Holding). The purpose of the issued guarantee is 'to help the export of Australian breeding beef cattle to Bryansk for the establishment of a fully integrated cattle breeding and beef production facility in Russia'.