Vodafone's SCF fund, Uruguayan PPPs and RAPID

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Vodafone has been using complex financial engineering devised by GAM and Greensill to enable it to profit from and invest in its own SCF offerings and bolster its DPO. The trouble is the system leaves little reason for procurers to pay suppliers on time. TXF’s Ollie Gordon investigates.

• Uruguay’s rail PPP project is progressing

• NEXI is providing insurance for a loan to the Refinery and Petrochemical Integrated Development (RAPID) project in Malaysia

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