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Financing trade and development sustainably will be crucial for Africa. Enhanced collaboration between multilateral development banks, development finance institutions and ECAs could greatly enhance intra-regional trade. Furthermore, setting up a ‘level playing field’ on the continent will allow governments to make strategic interventions for successful export credits and trade finance solutions, fostering growth through trade. African trade is already showing signs of rebounding from the coronavirus- induced recession. Through concerted, co-operative and continent-wide efforts, drawing on the knowledge and resources of all types of institutions and policy experts, Africa will continue to grow confidently and quickly into its increasingly important role as an engine of economic growth and global trade.
With economic weight shifting toward net zero, now is the time for ECAs, Exim-Banks, and PRIs to lead. Despite previous success, aligning global economic governance to climate goals requires additional activities across export finance and investment insurance institutions. The new research project initiated by Oxford University, ClimateWorks Foundation, and Mission 2020 including other practitioners and academics from institutions such as Atradius DSB, Columbia University, EDC, FMO and Offenburg University focuses on reshaping future trade and investment governance in light of climate action. The idea of a ‘Berne Union Net Zero Club’ is an important item in a potential package of reforms. This can include realigning mandates and corporate strategies, principles of intervention, as well as ECA, Exim-Bank and PRI operating models in order to accelerate net zero transformation. Full transparency regarding Berne Union members’ activities would be an excellent starting point. We invite all interested parties in the sector to come together to chart our own path to net zero