Export finance credit agency wont lend to LE

According to the Weekly Times, the Federal Government’s export finance credit agency (EFIC) won’t lend money to live exporters because there is  “too much cruelty”.

EFIC Victorian state director Phil Smith explained that the as a government agency it had “a lot of reputational risk to manage". "Supporting a business that is exporting livestock, with all the risks and challenges that has, is not acceptable,” Mr Smith said.

Classic.....way to go EFIC!!! A government department that sees the situation for what it is.
.
As for ALEC....perhaps the usual spin just isnt working for them (has it ever?). Seemingly, EFIC has realised that the LE trade has many issues, one of which is its inherently risky nature (Keniry 2003), which would be of concern as a lender. Australia may be the best in the world, but that doesnt make the trade right, good for animals or low risk. And you have to love that line that gets touted ad infinitum re ESCAS, the industry's panacea for animal welfare....it doesnt cover what happens on ships Mr Westaway as you well know!