All the major Export Credit Agencies ECAs of the world have long-standing associations with financing projects in Asia. However, the story of their involvement in Asia can be likened to that of fashion trends pleated trousers versus straight front trousers, long hair versus short hair, slim ties versus broad ties - they each take turns in being in and out of fashion.
The recent emerging market crisis has raised the interesting question of whether ECA-supported financing is back in vogue again - as all the evidence would seem to indicate, and whether it is likely to remain in fashion. A trip down memory lane may well provide us with an interesting insight...
