Pre-event sessions
Join us as we delve into the shifting landscape of geopolitical risk in 2024, where a world once shaped by globalization and geoeconomics now grapples with shocks including the aftermath of the pandemic and the Russia-Ukraine conflict. Amidst heightened tensions in the Middle East and evolving US policy aimed at responsible competition with rival superpowers, energy and climate change take center stage. We explore the urgent need for decarbonization efforts spurred by energy price shocks and significant incentives for renewables investment provided by the Inflation Reduction Act in the US. Furthermore, we'll discuss the growing threat of cyberattacks as a tool of statecraft, underscoring the imperative to address the escalating risks posed by increased digitization of critical infrastructure. Join us at the halfway point of the year as we analyze the most impactful geopolitical risks shaping the years ahead.
We gather the leaders the development, export and agency finance world for a series of back-to-back interviews taking place on the main plenary over the course of the event. We delve deep into how they are structuring their organisations to respond to escalating climate change threats, accelerate energy transition, finance innovation and emerging technologies, and provide increased flexibility and accessibility to unlock more critical projects. How will agencies manage the required growth and the increasingly public role associated with their involvement in energy transition, energy security, economic development, and geopolitics, balancing stakeholders: government, industry, and the public?
The Delian League, a historic alliance led by Athens, stands as an enduring symbol of collaboration against common threats in ancient Greece. Fast forward to the 21st century, we bring together the founding and affiliate members of the Net-Zero Export Credit Agencies Alliance (NZECA) to discuss the alliance's goals and shed light on how these institutions plan to deliver net-zero economies by 2050 by supporting the decarbonisation of trade and facilitating joint action from public and private finance. We explore the implications of these commitments for exporters, banks and ECAs, and the mechanisms by which members will publish emissions data and adhere to climate portfolio alignment methodologies.
Our hall is filled with heroes representing development finance institutions from every corner of the globe. Tasked with unlocking private capital to address the infrastructure gap and enable bankable project pipelines worldwide, they face key questions. How can we best mobilise large-scale private capital investment into climate, infrastructure, and development finance projects? How are innovative financing solutions, such as equity bridge financing and blended instruments, efforts to crowd in the private sector through syndications and guarantees, and promoting local currency lending playing out? How can we better aid in project preparation support and the implementation of acceptable ESG standards? What more can DFIs do to facilitate investment from institutional investors?
Please take a seat at one of our industry workshops held inside the temple dedicated to Hephaestus, the god of craftsmanship. Each industry has been selected based on levels of ECA-backed borrowing over the last 3 years from the Tag My Deals data. Join our tables hosted by gods, titans and heroes of industry, and roadmap the medium to long term outlook of the following industries:
- Table of Poseidon: Shipping
- Table of Pegasus: Aviation
- Table of Zeus: Power Transmission
- Table of Daedalus: Metals & Mining
- Table of Hyperion: Chemicals & petrochemicals
- Table of Appollo: Health & social projects
- Table of Coeus: Manufacturing
The market has started to see a return of M&A transactions in a big way after a quiet H1 of 2023 and with this comes plenty of opportunities for investment and growth. Join our panellists as we discuss:
- What does the M&A market look like currently? Where are some of the biggest opportunities?
- The impact stabilising rates could have on the M&A market and opportunities for financings.
- Why are valuations in many cases lower than expected?
- What new or emerging debt products could reduce buyers’ dependence on the bank market?
We gather the leaders the development, export and agency finance world for a series of back-to-back interviews taking place on the main plenary over the course of the event. We delve deep into how they are structuring their organisations to respond to escalating climate change threats, accelerate energy transition, finance innovation and emerging technologies, and provide increased flexibility and accessibility to unlock more critical projects. How will agencies manage the required growth and the increasingly public role associated with their involvement in energy transition, energy security, economic development, and geopolitics, balancing stakeholders: government, industry, and the public?
We bring together agencies, public and private investors to discuss how we can best structure deals to allow capital to flow into critical infrastructure and ESG projects. How can we increase investor confidence in social projects, particularly in emerging markets? What more can the public sector do to help investors mobilise capital?
Please take a seat at one of our industry workshops held inside the temple dedicated to Hephaestus, the god of craftsmanship. Each industry has been selected based on levels of ECA-backed borrowing over the last 3 years from the Tag My Deals data. Join our tables hosted by gods, titans and heroes of industry, and roadmap the medium to long term outlook of the following industries:
- Table of Hecate: Rail & road infrastructure
- Table of Aether: The new hydrogen economy
- Table of Aeolus: Offshore & onshore wind
- Table of Hermes: Telecoms, communication, cellular & mobile infrastructure
- Table of Hera: Oil, gas, carbon storage and capture
- Table of Dionysus: Increasing support for SMEs
- Table of Helios: PV Solar
- What role can PPPs play in Infrastructure investment globally? What do PPP pipelines look like currently?
- With so many projects in the pipeline, how can we cope with the construction and supply chain bottle necks and the challenges these come with?
- Airports in particular seem to be a very active space for investment – what do the structures look like for these transactions? Is there an opportunity here for partnerships?
- What role is ESG playing in infrastructure projects now – how has ESG compliance impacted the thought process and timelines of projects?
Join the leading international players and seize valuable opportunities for business connections and dealmaking over a delicious Greek buffet lunch
SPONSORED BY
We explore the intricacies of various methodologies for sustainable finance, delving into the challenges of standardization, while highlighting progress made by standards such as the LMA Green Loan Principles, Equator Principles, ICC whitepaper, and IFC performance standards. Could we consider proposing a carbon intensity metric for project evaluation? We look at the importance of balancing the complexity of ESG requirements with their impact on projects. How can we advocate for flexibility within standardized frameworks? How can we better address the need for clarity and accessibility in ESG guidelines to avoid hindering green deals in different markets?
We shine a light on the private market while it holds up the skies to support the public market. We look at how ECAs and DFIs are buying insurance and reinsurance designed to aid in the risk exposure and balance sheet optimisation, and conversely how DFIs are de-risking projects to unlock bank appetite and private market support. How have private market solutions helped to unlock capital and projects? Will we see a growth in portfolio insurance? We explore the possibilities of expanding risk-sharing mechanisms while addressing constraints on tenor and capacity in the private market.
This workshop presents the results of an academic research project between the University of Lausanne, ETH Zurich, and HEC Paris. We provide the first global quantification of energy finance flows by official export credit agencies (ECAs) using commercial transaction data from TXF. Our results are comparable to the E3F reporting and display the latest energy financing trends from 32 countries between 2013 and 2023. We find that while the share of renewables in global ECA energy commitments rose to 42% (guarantees) and 57% (direct lending) in 2023, ECAs remain heavily involved in the fossil fuel sector, with support varying substantially across technologies, value chain stages, and countries. Finally, in our paper, we call for reconsidering domestic ECA mandates and strengthening international climate-related cooperation in export finance, including with non-OECD countries. *Invite only session
As storage projects gain momentum and are proving themselves to be a pivotal pillar of portfolios, we will unite our panellists to discuss the current state and future trajectory of this dynamic asset class covering key points such as:
- How are solar business models evolving in different markets? Is a merchant generation-like model dominating? Or will eventually batteries need to be paid for reliability services.
- What does the pipeline for storage assets look like globally, is there more of a push for co-located or standalone projects and does this affect financing at all?
- What does the PPA market look like for storage assets? How have terms in solar-plus- storage evolved?
- What impact the growing battery sector has on other markets such as critical minerals mining, and more generally, how secure and competitive are supply chains.
Following the new European Commission elections in May 2024, we convene to explore what we can anticipate from the EU Export Credit Strategy with key bankers, exporters, ECAs and DG Trade lending to the debate.
As both industry and government increasingly emphasise the creation of a greener and more equitable global society, the mandates of ECAs and DFIs have become more aligned towards ESG projects and realising the UN SDGs. Consequently, we observe an enhanced convergence and collaboration between ECAs, DFIs, and the private sector. We bring together agency leaders to assess whether we are doing enough to pool our resources to address the infrastructure funding gap in developing nations and finance the global energy transition. We ask how increased cooperation between ECAs & DFIs has helped finance big-ticket projects? With the IFC performance standards serving as a useful tool for assessing investment criteria, can we learn from this to create standardised arrangements for presenting loan packages and ECAs? How can we further foster this harmonious relationship to bring more projects over the line?
Taking inspiration from the gatherings of ancient Greek philosophers, who convened in privacy to discuss pressing matters of their time, we extend an exclusive invitation for you to participate in this closed-door roundtable with fellow borrowers, discussing your balance sheet requirements, project pipelines, the effectiveness of the ECA product, and sharing valuable structuring insights. The session will adhere to strict Chatham House rules.
Fibre deals particularly across Europe are continuing to reach close at a steady rate, and we are at an interesting point with the asset class where the questions over what is next are starting to be raised, join our panellists as we discuss:
- The impact of overbuild and competition on the Fibre market
- As we enter the ‘second wave of fibre’ we are seeing a lot of refinancings, what do these structures look like?
- Does the outlook for fibre investment differ when we break it down regionally across the globe?
- What are the prospects for consolidation in global fibre markets?
Please take your seats and witness the re-enactment of the most famous battle in the ancient world, now unfolding on the modern stage. Today the gods present new challenges in the form of heightened geopolitical uncertainty, sluggish economic growth, both new and ongoing conflicts, climate risks, energy security concerns, and deglobalization. How will our heroes employ the tools of export and agency finance to confront these challenges and lead their institutions to newfound glories? The audience votes to decide if the Greeks will once again triumph, or the Trojans stage an epic comeback?
Whilst there is a forecast for interest rates to fall, the current high interest rate environment continues. With many projects needing to be completed, how can we navigate these choppy waters? Join our panelists as we discuss:
- How can utilizing hedging tools help with driving projects towards financial close?
- The impact of rising rates and inflationary pressure on asset returns.
- Discuss Alternative debt distribution methods, and alternative methods for de- risking both projects and bank’s debt books.
Join us for networking drinks, mingle with industry peers, and foster valuable connections in a relaxed setting. A chance to unwind, reflect on the debates of the day and discuss business in an amazing setting with delicious drinks and canapés
SPONSORED BY
The Goddess Athena, celebrated for her wisdom and intelligence, stands as the ideal symbol for this significant session. At Exile, we ardently support women and other underrepresented communities in export and project finance. Our aim is to foster an environment where more women are at the forefront of business origination and assume visible roles in the industry. Join our breakfast workshop in collaboration with WEXIF to network with peers and participate in purposeful debates.
We bring together key figures from the Greek business world in the infrastructure, energy, shipping, banking, and association industries for an exclusive roundtable. This session will delve into the outlook for these sectors, providing a unique opportunity for in-depth discussions. International participants, including ECAs, development banks, insurers, and commercial banks, are invited to attend, to discuss potential deals and project pipelines within the Greek market. The session will be hosted by the host nation's Greek ECA, ECG
Most of the world’s Emerging Markets are back in focus this year, as we see increased appetite and deal flow in Africa, the Middle East, Latin America, and elsewhere. Many large EM economies have returned to international bonds markets, following a record spree of defaults during the pandemic. The impact of the wars in Ukraine and Israel has been softened by slowing inflation, surging economic growth, and recovering risk appetite for export credit and project finance deals. Take a journey around some of the most exciting trade and investment destinations, according to our Seer, and start Day Two on a high note of commercial opportunity and risk mitigation.
What better place to convene our esteemed government ministry representatives than the birthplace of democracy? We gather to address one of the most pressing environmental and social challenges of our time: how to balance achieving net-zero emissions and reduced carbon with the need for economic growth and affordable energy in developing nations. Can we establish rules and partnerships between developing governments, financial institutions, and agencies to harmonise development and climate objectives?
The path to net zero is undeniably Odyssean, laden with economic, social, political, budgetary, and analytical challenges along the way. We task our multinational leader with navigating these obstacles and charting a path to net zero, both within their organisation and collaboratively with the wider global community.
According to TXF Intelligence, the surge in ECA-backed debt within commodity trading houses has significantly expanded since pre-pandemic levels. Traders accessed a total of $3.454 billion in export finance in 2019 and $2.382 billion in 2020. Remarkably, 2023 witnessed a substantial increase, reaching a total volume of $16.392 billion. We bring together export financiers and commodity traders to discuss the outlook for this ever-growing dynamic and assess how they can collaborate more effectively to ensure a bright future.
The finalisation of the latest Credit Requirement Regulation (CRR) is set to impact European banks using the Internal Ratings Based (IRB) approach by reinforcing the standardised approach to credit risk. With the findings from EBA & EIOPA Report on Article 506 to be released soon after this conference, what are the latest whisperings about the recognition of insurance as Capital Risk Mitigation and its superior loss given default (LGD) record? Crucially, given what we know today, can banks continue economically model the level of capital relief, efficiently distribute risk, and achieve a favourable return on capital? How are the efforts from insurance and banking associations bearing fruit?
We invite the most active regional borrowers, project developers, exporters, ECAs, DFIs, and MDBs to this beautiful region to discuss their project pipelines, product innovations, and the suitability of financial products available to propel them over the line.
- Asia
- Europe
- MENA
- Stan countries
Alongside the traditional energy and core infrastructure projects, more and more we are seeing traction now for investments into emerging technologies such as Hydrogen and CCUS. But what must be done to get these asset classes scaled up? Join our panellists as we discuss:
- How far are we from large scale hydrogen projects becoming the norm?
- How significant will legislation and public sector support be to the growth of emerging technologies?
- Do we have the correct legal framework and foundations to meet our 2030 goals?
We gather the leaders the development, export and agency finance world for a series of back-to-back interviews taking place on the main plenary over the course of the event. We delve deep into how they are structuring their organisations to respond to escalating climate change threats, accelerate energy transition, finance innovation and emerging technologies, and provide increased flexibility and accessibility to unlock more critical projects. How will agencies manage the required growth and the increasingly public role associated with their involvement in energy transition, energy security, economic development, and geopolitics, balancing stakeholders: government, industry, and the public?
The Adyton (inner chamber) of the Parthenon housed the treasury for the ancient city. Today we peek inside to uncover the tools bankers use to get the most out of CPRI products across syndications, distribution, risk mitigation and capital relief. Are the tools in the Adyton doing the job, or is there scope for more capacity, new products, innovation, and inventory finance? Are bankers after increased standardisation for efficiency purposes or more bespoke products to suit their individual needs? How will Basel IV impact capital requirements regulation (CRR) and the ability of banks to distribute risk for capital relief purposes? Will the focus shift to pure risk mitigation and internal limit relief? If so what does this mean for bank appetite for credit risk (CRI) insurance? Will we continue to see appetite and growth in the market for portfolio insurance and Significant Risk Transfer (SRTs) and will there be expansion into new asset classes and regions?
Solar as an asset class is continuing to see consistent investment and deal flow globally. With many global Net 0 and renewable energy targets this uptake will need to continue so how can we facilitate this? Join us as we unite senior figures in the renewables space to discuss:
- With so much more renewable capacity becoming available, what will we do with the energy? Is there a need for grid upgrades & storage co- location to facilitate the growing renewables capacity?
- Solar as a technology is seen to be matured now – what impact is this having on the debt product and raising of finances for Solar projects – are we seeing more financing on a portfolio level closer to an infra model than a project finance model?
- How does the outlook for Solar differ when comparing deals done globally?
We gather the leaders the development, export and agency finance world for a series of back-to-back interviews taking place on the main plenary over the course of the event. We delve deep into how they are structuring their organisations to respond to escalating climate change threats, accelerate energy transition, finance innovation and emerging technologies, and provide increased flexibility and accessibility to unlock more critical projects. How will agencies manage the required growth and the increasingly public role associated with their involvement in energy transition, energy security, economic development, and geopolitics, balancing stakeholders: government, industry, and the public?
Are underwriters seeing the quality risks they want in today’s uncertain macroeconomic and geopolitical climate; will they start viewing riskier ventures further afield? How is the regulatory landscape with Basel IV playing out, how will this affect our product offering, and how is the market evolving in response to support clients’ needs? What new trends and innovations are we seeing in the market? Are underwriters willing and able to match bank appetite for SRTs? How have the modernised OECD guidelines affected the market for the export credit transactions and what would a return to 95% ECA cover mean for the market? How are Managing General Agents (MGAs) bringing new capacity to the market?
We invite the most active regional borrowers, project developers, exporters, ECAs, DFIs, and MDBs to this beautiful region to discuss their project pipelines, product innovations, and the suitability of financial products available to propel them over the line.
- Africa
- Rebuilding Ukraine
- Türkiye
- Brazil
Digital Infrastructure and Data
Centres are now a critical part of
many global portfolios, and we are
seeing more and more interest and
deals in across the asset class. Join
our panellists as we break down:
- What is the pipeline like for
data centre investment, and
what is the relationship between growing demand for
storage and computing power
and financing activity
- How does financing differ when looking at a co-location vs hyperscaler transaction?
- How is ESG impacting the financing of Data Centre projects?
- What are the likely impacts of AI/LLM applications on the financing of data centres? Is it purely as a source of demand?
- What are the prospects for a convergence between global and US financing norms for data centres?
Externally, the energy transition and the greening of clients' portfolios are reshaping the landscape of insured projects and assets. While internally insurers are beginning to experience a push towards earning as much premium from ESG initiatives as possible. Here we explore new green initiatives, including whether we will see a trend for MGAs specifically established for green projects. Alongside initiatives such as the Alliance Trade Speciality Credit solution product, where premiums are invested in EU Taxonomy-related green bonds to foster a circular economy. We ask how can insurers overcome thin margins and economic challenges to ensure profitability in an increasingly environmentally conscious market? We can conclude with a reality check, how green is the market today and how does this correlate to political and regulatory rhetoric?
While COP28 delivered three significant energy pledges covering oil and gas emissions, renewables, and energy efficiency, meeting these commitments, as per the IEA, only constitutes 30% of the necessary emissions reductions to align with the Paris Agreement's goal of limiting global warming to 1.5°C. We turn to the tools of export, agency, and project finance, exploring how we can best combine our financial strength and experience to meet this challenge.
EVs and EV charging facilities are two of the more recent assets to emerge as of interest to project financiers. With so much new technology and ideas to navigate join our panellists as we break down:
- How take up of EVs for consumers will impact investment opportunities?
- How significant are factors such as location and exclusivity when looking at EV charging investments? How can developers make their projects more appealing to potential investors?
- Which business models are most bankable: local slower-charging points or fast chargers on long distance networks?
- What progress has been made following increased usage of structured/non-recourse debt in financing EV roll outs?
- Does the US experience point to the benefit of greater government involvement in EV infrastructure development and funding?
Our pundits are tasked with joining the dots of today’s export credit world to give a vision of tomorrows world. As the world devolves from globalisation, how has the rise in friendshoring and nearshoring changed the dynamics in the market and supply chains, will this trend continue? Is collaboration and risk sharing the new name of the game? With longer 22 years tenors in the renewables sector and up to 15 years repayment in rail aviation and shipping, and reinstation of 95% cover, how will the project landscape evolve? How can ECAs best to support buyers and exporters in a higher interest rate environment? Are we seeing the necessary new products, guarantees, coverages, innovation and a combination of instruments unfold?
Join us as we delve into the shifting landscape of geopolitical risk in 2024, where a world once shaped by globalization and geoeconomics now grapples with shocks including the aftermath of the pandemic and the Russia-Ukraine conflict. Amidst heightened tensions in the Middle East and evolving US policy aimed at responsible competition with rival superpowers, energy and climate change take center stage. We explore the urgent need for decarbonization efforts spurred by energy price shocks and significant incentives for renewables investment provided by the Inflation Reduction Act in the US. Furthermore, we'll discuss the growing threat of cyberattacks as a tool of statecraft, underscoring the imperative to address the escalating risks posed by increased digitization of critical infrastructure. Join us at the halfway point of the year as we analyze the most impactful geopolitical risks shaping the years ahead.
We gather the leaders the development, export and agency finance world for a series of back-to-back interviews taking place on the main plenary over the course of the event. We delve deep into how they are structuring their organisations to respond to escalating climate change threats, accelerate energy transition, finance innovation and emerging technologies, and provide increased flexibility and accessibility to unlock more critical projects. How will agencies manage the required growth and the increasingly public role associated with their involvement in energy transition, energy security, economic development, and geopolitics, balancing stakeholders: government, industry, and the public?
The Delian League, a historic alliance led by Athens, stands as an enduring symbol of collaboration against common threats in ancient Greece. Fast forward to the 21st century, we bring together the founding and affiliate members of the Net-Zero Export Credit Agencies Alliance (NZECA) to discuss the alliance's goals and shed light on how these institutions plan to deliver net-zero economies by 2050 by supporting the decarbonisation of trade and facilitating joint action from public and private finance. We explore the implications of these commitments for exporters, banks and ECAs, and the mechanisms by which members will publish emissions data and adhere to climate portfolio alignment methodologies.
Our hall is filled with heroes representing development finance institutions from every corner of the globe. Tasked with unlocking private capital to address the infrastructure gap and enable bankable project pipelines worldwide, they face key questions. How can we best mobilise large-scale private capital investment into climate, infrastructure, and development finance projects? How are innovative financing solutions, such as equity bridge financing and blended instruments, efforts to crowd in the private sector through syndications and guarantees, and promoting local currency lending playing out? How can we better aid in project preparation support and the implementation of acceptable ESG standards? What more can DFIs do to facilitate investment from institutional investors?
Please take a seat at one of our industry workshops held inside the temple dedicated to Hephaestus, the god of craftsmanship. Each industry has been selected based on levels of ECA-backed borrowing over the last 3 years from the Tag My Deals data. Join our tables hosted by gods, titans and heroes of industry, and roadmap the medium to long term outlook of the following industries:
- Table of Poseidon: Shipping
- Table of Pegasus: Aviation
- Table of Zeus: Power Transmission
- Table of Daedalus: Metals & Mining
- Table of Hyperion: Chemicals & petrochemicals
- Table of Appollo: Health & social projects
- Table of Coeus: Manufacturing
The market has started to see a return of M&A transactions in a big way after a quiet H1 of 2023 and with this comes plenty of opportunities for investment and growth. Join our panellists as we discuss:
- What does the M&A market look like currently? Where are some of the biggest opportunities?
- The impact stabilising rates could have on the M&A market and opportunities for financings.
- Why are valuations in many cases lower than expected?
- What new or emerging debt products could reduce buyers’ dependence on the bank market?
We gather the leaders the development, export and agency finance world for a series of back-to-back interviews taking place on the main plenary over the course of the event. We delve deep into how they are structuring their organisations to respond to escalating climate change threats, accelerate energy transition, finance innovation and emerging technologies, and provide increased flexibility and accessibility to unlock more critical projects. How will agencies manage the required growth and the increasingly public role associated with their involvement in energy transition, energy security, economic development, and geopolitics, balancing stakeholders: government, industry, and the public?
We bring together agencies, public and private investors to discuss how we can best structure deals to allow capital to flow into critical infrastructure and ESG projects. How can we increase investor confidence in social projects, particularly in emerging markets? What more can the public sector do to help investors mobilise capital?
Please take a seat at one of our industry workshops held inside the temple dedicated to Hephaestus, the god of craftsmanship. Each industry has been selected based on levels of ECA-backed borrowing over the last 3 years from the Tag My Deals data. Join our tables hosted by gods, titans and heroes of industry, and roadmap the medium to long term outlook of the following industries:
- Table of Hecate: Rail & road infrastructure
- Table of Aether: The new hydrogen economy
- Table of Aeolus: Offshore & onshore wind
- Table of Hermes: Telecoms, communication, cellular & mobile infrastructure
- Table of Hera: Oil, gas, carbon storage and capture
- Table of Dionysus: Increasing support for SMEs
- Table of Helios: PV Solar
- What role can PPPs play in Infrastructure investment globally? What do PPP pipelines look like currently?
- With so many projects in the pipeline, how can we cope with the construction and supply chain bottle necks and the challenges these come with?
- Airports in particular seem to be a very active space for investment – what do the structures look like for these transactions? Is there an opportunity here for partnerships?
- What role is ESG playing in infrastructure projects now – how has ESG compliance impacted the thought process and timelines of projects?
Join the leading international players and seize valuable opportunities for business connections and dealmaking over a delicious Greek buffet lunch
SPONSORED BY
We explore the intricacies of various methodologies for sustainable finance, delving into the challenges of standardization, while highlighting progress made by standards such as the LMA Green Loan Principles, Equator Principles, ICC whitepaper, and IFC performance standards. Could we consider proposing a carbon intensity metric for project evaluation? We look at the importance of balancing the complexity of ESG requirements with their impact on projects. How can we advocate for flexibility within standardized frameworks? How can we better address the need for clarity and accessibility in ESG guidelines to avoid hindering green deals in different markets?
We shine a light on the private market while it holds up the skies to support the public market. We look at how ECAs and DFIs are buying insurance and reinsurance designed to aid in the risk exposure and balance sheet optimisation, and conversely how DFIs are de-risking projects to unlock bank appetite and private market support. How have private market solutions helped to unlock capital and projects? Will we see a growth in portfolio insurance? We explore the possibilities of expanding risk-sharing mechanisms while addressing constraints on tenor and capacity in the private market.
This workshop presents the results of an academic research project between the University of Lausanne, ETH Zurich, and HEC Paris. We provide the first global quantification of energy finance flows by official export credit agencies (ECAs) using commercial transaction data from TXF. Our results are comparable to the E3F reporting and display the latest energy financing trends from 32 countries between 2013 and 2023. We find that while the share of renewables in global ECA energy commitments rose to 42% (guarantees) and 57% (direct lending) in 2023, ECAs remain heavily involved in the fossil fuel sector, with support varying substantially across technologies, value chain stages, and countries. Finally, in our paper, we call for reconsidering domestic ECA mandates and strengthening international climate-related cooperation in export finance, including with non-OECD countries. *Invite only session
As storage projects gain momentum and are proving themselves to be a pivotal pillar of portfolios, we will unite our panellists to discuss the current state and future trajectory of this dynamic asset class covering key points such as:
- How are solar business models evolving in different markets? Is a merchant generation-like model dominating? Or will eventually batteries need to be paid for reliability services.
- What does the pipeline for storage assets look like globally, is there more of a push for co-located or standalone projects and does this affect financing at all?
- What does the PPA market look like for storage assets? How have terms in solar-plus- storage evolved?
- What impact the growing battery sector has on other markets such as critical minerals mining, and more generally, how secure and competitive are supply chains.
Following the new European Commission elections in May 2024, we convene to explore what we can anticipate from the EU Export Credit Strategy with key bankers, exporters, ECAs and DG Trade lending to the debate.
As both industry and government increasingly emphasise the creation of a greener and more equitable global society, the mandates of ECAs and DFIs have become more aligned towards ESG projects and realising the UN SDGs. Consequently, we observe an enhanced convergence and collaboration between ECAs, DFIs, and the private sector. We bring together agency leaders to assess whether we are doing enough to pool our resources to address the infrastructure funding gap in developing nations and finance the global energy transition. We ask how increased cooperation between ECAs & DFIs has helped finance big-ticket projects? With the IFC performance standards serving as a useful tool for assessing investment criteria, can we learn from this to create standardised arrangements for presenting loan packages and ECAs? How can we further foster this harmonious relationship to bring more projects over the line?
Taking inspiration from the gatherings of ancient Greek philosophers, who convened in privacy to discuss pressing matters of their time, we extend an exclusive invitation for you to participate in this closed-door roundtable with fellow borrowers, discussing your balance sheet requirements, project pipelines, the effectiveness of the ECA product, and sharing valuable structuring insights. The session will adhere to strict Chatham House rules.
Fibre deals particularly across Europe are continuing to reach close at a steady rate, and we are at an interesting point with the asset class where the questions over what is next are starting to be raised, join our panellists as we discuss:
- The impact of overbuild and competition on the Fibre market
- As we enter the ‘second wave of fibre’ we are seeing a lot of refinancings, what do these structures look like?
- Does the outlook for fibre investment differ when we break it down regionally across the globe?
- What are the prospects for consolidation in global fibre markets?
Please take your seats and witness the re-enactment of the most famous battle in the ancient world, now unfolding on the modern stage. Today the gods present new challenges in the form of heightened geopolitical uncertainty, sluggish economic growth, both new and ongoing conflicts, climate risks, energy security concerns, and deglobalization. How will our heroes employ the tools of export and agency finance to confront these challenges and lead their institutions to newfound glories? The audience votes to decide if the Greeks will once again triumph, or the Trojans stage an epic comeback?
Whilst there is a forecast for interest rates to fall, the current high interest rate environment continues. With many projects needing to be completed, how can we navigate these choppy waters? Join our panelists as we discuss:
- How can utilizing hedging tools help with driving projects towards financial close?
- The impact of rising rates and inflationary pressure on asset returns.
- Discuss Alternative debt distribution methods, and alternative methods for de- risking both projects and bank’s debt books.
Join us for networking drinks, mingle with industry peers, and foster valuable connections in a relaxed setting. A chance to unwind, reflect on the debates of the day and discuss business in an amazing setting with delicious drinks and canapés
SPONSORED BY
The Goddess Athena, celebrated for her wisdom and intelligence, stands as the ideal symbol for this significant session. At Exile, we ardently support women and other underrepresented communities in export and project finance. Our aim is to foster an environment where more women are at the forefront of business origination and assume visible roles in the industry. Join our breakfast workshop in collaboration with WEXIF to network with peers and participate in purposeful debates.
We bring together key figures from the Greek business world in the infrastructure, energy, shipping, banking, and association industries for an exclusive roundtable. This session will delve into the outlook for these sectors, providing a unique opportunity for in-depth discussions. International participants, including ECAs, development banks, insurers, and commercial banks, are invited to attend, to discuss potential deals and project pipelines within the Greek market. The session will be hosted by the host nation's Greek ECA, ECG
Most of the world’s Emerging Markets are back in focus this year, as we see increased appetite and deal flow in Africa, the Middle East, Latin America, and elsewhere. Many large EM economies have returned to international bonds markets, following a record spree of defaults during the pandemic. The impact of the wars in Ukraine and Israel has been softened by slowing inflation, surging economic growth, and recovering risk appetite for export credit and project finance deals. Take a journey around some of the most exciting trade and investment destinations, according to our Seer, and start Day Two on a high note of commercial opportunity and risk mitigation.
What better place to convene our esteemed government ministry representatives than the birthplace of democracy? We gather to address one of the most pressing environmental and social challenges of our time: how to balance achieving net-zero emissions and reduced carbon with the need for economic growth and affordable energy in developing nations. Can we establish rules and partnerships between developing governments, financial institutions, and agencies to harmonise development and climate objectives?
The path to net zero is undeniably Odyssean, laden with economic, social, political, budgetary, and analytical challenges along the way. We task our multinational leader with navigating these obstacles and charting a path to net zero, both within their organisation and collaboratively with the wider global community.
According to TXF Intelligence, the surge in ECA-backed debt within commodity trading houses has significantly expanded since pre-pandemic levels. Traders accessed a total of $3.454 billion in export finance in 2019 and $2.382 billion in 2020. Remarkably, 2023 witnessed a substantial increase, reaching a total volume of $16.392 billion. We bring together export financiers and commodity traders to discuss the outlook for this ever-growing dynamic and assess how they can collaborate more effectively to ensure a bright future.
The finalisation of the latest Credit Requirement Regulation (CRR) is set to impact European banks using the Internal Ratings Based (IRB) approach by reinforcing the standardised approach to credit risk. With the findings from EBA & EIOPA Report on Article 506 to be released soon after this conference, what are the latest whisperings about the recognition of insurance as Capital Risk Mitigation and its superior loss given default (LGD) record? Crucially, given what we know today, can banks continue economically model the level of capital relief, efficiently distribute risk, and achieve a favourable return on capital? How are the efforts from insurance and banking associations bearing fruit?
We invite the most active regional borrowers, project developers, exporters, ECAs, DFIs, and MDBs to this beautiful region to discuss their project pipelines, product innovations, and the suitability of financial products available to propel them over the line.
- Asia
- Europe
- MENA
- Stan countries
Alongside the traditional energy and core infrastructure projects, more and more we are seeing traction now for investments into emerging technologies such as Hydrogen and CCUS. But what must be done to get these asset classes scaled up? Join our panellists as we discuss:
- How far are we from large scale hydrogen projects becoming the norm?
- How significant will legislation and public sector support be to the growth of emerging technologies?
- Do we have the correct legal framework and foundations to meet our 2030 goals?
The Adyton (inner chamber) of the Parthenon housed the treasury for the ancient city. Today we peek inside to uncover the tools bankers use to get the most out of CPRI products across syndications, distribution, risk mitigation and capital relief. Are the tools in the Adyton doing the job, or is there scope for more capacity, new products, innovation, and inventory finance? Are bankers after increased standardisation for efficiency purposes or more bespoke products to suit their individual needs? How will Basel IV impact capital requirements regulation (CRR) and the ability of banks to distribute risk for capital relief purposes? Will the focus shift to pure risk mitigation and internal limit relief? If so what does this mean for bank appetite for credit risk (CRI) insurance? Will we continue to see appetite and growth in the market for portfolio insurance and Significant Risk Transfer (SRTs) and will there be expansion into new asset classes and regions?
Solar as an asset class is continuing to see consistent investment and deal flow globally. With many global Net 0 and renewable energy targets this uptake will need to continue so how can we facilitate this? Join us as we unite senior figures in the renewables space to discuss:
- With so much more renewable capacity becoming available, what will we do with the energy? Is there a need for grid upgrades & storage co- location to facilitate the growing renewables capacity?
- Solar as a technology is seen to be matured now – what impact is this having on the debt product and raising of finances for Solar projects – are we seeing more financing on a portfolio level closer to an infra model than a project finance model?
- How does the outlook for Solar differ when comparing deals done globally?
We gather the leaders the development, export and agency finance world for a series of back-to-back interviews taking place on the main plenary over the course of the event. We delve deep into how they are structuring their organisations to respond to escalating climate change threats, accelerate energy transition, finance innovation and emerging technologies, and provide increased flexibility and accessibility to unlock more critical projects. How will agencies manage the required growth and the increasingly public role associated with their involvement in energy transition, energy security, economic development, and geopolitics, balancing stakeholders: government, industry, and the public?
Are underwriters seeing the quality risks they want in today’s uncertain macroeconomic and geopolitical climate; will they start viewing riskier ventures further afield? How is the regulatory landscape with Basel IV playing out, how will this affect our product offering, and how is the market evolving in response to support clients’ needs? What new trends and innovations are we seeing in the market? Are underwriters willing and able to match bank appetite for SRTs? How have the modernised OECD guidelines affected the market for the export credit transactions and what would a return to 95% ECA cover mean for the market? How are Managing General Agents (MGAs) bringing new capacity to the market?
We invite the most active regional borrowers, project developers, exporters, ECAs, DFIs, and MDBs to this beautiful region to discuss their project pipelines, product innovations, and the suitability of financial products available to propel them over the line.
- Africa
- Rebuilding Ukraine
- Türkiye
- Brazil
We gather the leaders the development, export and agency finance world for a series of back-to-back interviews taking place on the main plenary over the course of the event. We delve deep into how they are structuring their organisations to respond to escalating climate change threats, accelerate energy transition, finance innovation and emerging technologies, and provide increased flexibility and accessibility to unlock more critical projects. How will agencies manage the required growth and the increasingly public role associated with their involvement in energy transition, energy security, economic development, and geopolitics, balancing stakeholders: government, industry, and the public?
Digital Infrastructure and Data
Centres are now a critical part of
many global portfolios, and we are
seeing more and more interest and
deals in across the asset class. Join
our panellists as we break down:
- What is the pipeline like for
data centre investment, and
what is the relationship between growing demand for
storage and computing power
and financing activity
- How does financing differ when looking at a co-location vs hyperscaler transaction?
- How is ESG impacting the financing of Data Centre projects?
- What are the likely impacts of AI/LLM applications on the financing of data centres? Is it purely as a source of demand?
- What are the prospects for a convergence between global and US financing norms for data centres?
Externally, the energy transition and the greening of clients' portfolios are reshaping the landscape of insured projects and assets. While internally insurers are beginning to experience a push towards earning as much premium from ESG initiatives as possible. Here we explore new green initiatives, including whether we will see a trend for MGAs specifically established for green projects. Alongside initiatives such as the Alliance Trade Speciality Credit solution product, where premiums are invested in EU Taxonomy-related green bonds to foster a circular economy. We ask how can insurers overcome thin margins and economic challenges to ensure profitability in an increasingly environmentally conscious market? We can conclude with a reality check, how green is the market today and how does this correlate to political and regulatory rhetoric?
While COP28 delivered three significant energy pledges covering oil and gas emissions, renewables, and energy efficiency, meeting these commitments, as per the IEA, only constitutes 30% of the necessary emissions reductions to align with the Paris Agreement's goal of limiting global warming to 1.5°C. We turn to the tools of export, agency, and project finance, exploring how we can best combine our financial strength and experience to meet this challenge.
EVs and EV charging facilities are two of the more recent assets to emerge as of interest to project financiers. With so much new technology and ideas to navigate join our panellists as we break down:
- How take up of EVs for consumers will impact investment opportunities?
- How significant are factors such as location and exclusivity when looking at EV charging investments? How can developers make their projects more appealing to potential investors?
- Which business models are most bankable: local slower-charging points or fast chargers on long distance networks?
- What progress has been made following increased usage of structured/non-recourse debt in financing EV roll outs?
- Does the US experience point to the benefit of greater government involvement in EV infrastructure development and funding?
Our pundits are tasked with joining the dots of today’s export credit world to give a vision of tomorrows world. As the world devolves from globalisation, how has the rise in friendshoring and nearshoring changed the dynamics in the market and supply chains, will this trend continue? Is collaboration and risk sharing the new name of the game? With longer 22 years tenors in the renewables sector and up to 15 years repayment in rail aviation and shipping, and reinstation of 95% cover, how will the project landscape evolve? How can ECAs best to support buyers and exporters in a higher interest rate environment? Are we seeing the necessary new products, guarantees, coverages, innovation and a combination of instruments unfold?