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Export Finance and Insurance Corporation (Efic)Australia
Created on: 2017-02-07 12:56:37
Last update: 2017-04-18 12:37:55
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About Export Finance and Insurance Corporation (Efic)
Export House, Sydney. Photo: Courtesy of Jagonal (www.jagonal.com.au)The Export Finance and Insurance Corporation (Efic) is Australia’s export credit agency since 1957. Efic became a statutory corporation in November 1991 under the Export Finance and Insurance Corporation Act. Efic's role is to support the growth of Australian companies in their international activities by providing financial solutions. Efic is part of the Australian Government’s Foreign Affairs and Trade Department.
Efic became an Equator Principles signatory in 2009. BankTrack profiled this financial institution as part of our Equator Principles Track and Chase Project.
Efic is currently considering project finance of a coal mine in the Limpopo provence of South Africa (source Efic).
| Website | http://www.efic.gov.au |
| Headquarters |
Level 10 Export House 22 Pitt Street
2000 Sydney
Australia
|
| CEO/chair |
Andrew Hunter CEO |
| Supervisor | |
| Annual report | Annual report 2015-2016 |
| Ownership |
Efic is a public government organisation owned by the Commonwealth of Australia. |
Related Dodgy Deals
Export Finance And Insurance Corporation (Efic) has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.
Dodgy Deals map
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Policies
Voluntary initiatives
Export Finance and Insurance Corporation (Efic) has committed itself to the following voluntary standards:- Equator Principles
- IFC Performance Standard 1: Assessment and Management of Environmental and Social Risks and Impacts
- OECD Guidelines for Multinational Enterprises
- OECD Recommendation of the Council on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence (OECD Common Approaches)
Issues
Export Finance and Insurance Corporation (Efic) and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. Export Finance and Insurance Corporation (Efic) adopted the Equator Principles in 2009.
Reporting on the Equator Principles
Export Finance and Insurance Corporation (Efic) must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
- Export Finance and Insurance Corporation (Efic) is in compliance with its reporting obligations. The 2015 report can be found here.
Dodgy Deals
Export Finance and Insurance Corporation (Efic) is involved in financing the following Equator Principles projects that BankTrack considers controversial.
There are no projects active for Export Finance and Insurance Corporation (Efic) now.
Equator Principles
Implementation and reporting
Contact and complaints
Equator Principles Dodgy Deals
Good moves
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