UK Export Finance
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ECGD leads the way - the UK's official export credit agency is back 'on cover' for Libya
ECGD, the UK's export credit agency (ECA), today announced it was resuming cover for British exports to Libya. The announcement makes ECGD the first major ECA to resume cover for Libya since the NATO airstrikes against the former Qadaffi regime began in March this year.
ECGD chief executive, Patrick Crawford said:
"Now that an internationally recognised regime has
been established and stability is returning, I am pleased to
announce today that ECGD will be resuming cover immediately and
will make up to $250m in support available. This support will help
British businesses play their role in assisting the people of
Libya build the future they want and richly deserve."
"I very much hope that ECGD's lead in
resuming cover will have the added benefit of signalling to
international private investors and banks that creditworthiness
has been restored. I hope this signal of the UK's
confidence will encourage banks and other lenders to support the
new regime."
NOTES TO EDITORS
ECGD, the Export Credits Guarantee Department, is the
UK's official export credit agency. ECGD works with
exporters, project sponsors, banks and buyers to help British
exporters, by providing insurance against non-payment risks to UK
exporters and guarantees for bank loans to facilitate the
arranging of finance to buyers of UK goods. It also provides
insurance against political risks to UK investors in overseas
markets. More details are available at www.ecgd.gov.uk.
Contacts:
NDS Enquiries
Phone: For enquiries please contact the issuing dept
ndsenquiries@coi.gsi.gov.uk
Steve Roberts-Mee
Phone: Tel: 020 7512 7319
Mobile: 07990 887852
Steve.Roberts-Mee@ecgd.gsi.gov.uk