ECGD, the UK’s official export credit agency, today (8 May) launched a public consultation on a proposal to offer a scheme to confirm letters of credit for British exports.
The consultation on this scheme was announced by Lord Mandelson in New Industry, New Jobs on 20 April. The Chancellor referred to it in the Budget.
ECGD’s Minister Ian Pearson said:
"Britain was built on trade, and trade will be vital to our future prosperity. I want to ensure that the support offered by ECGD plays a significant role supporting UK exporters when demand picks up. Under the current difficult circumstances it’s right that the Government should do all it can to help British exports and the jobs they support. And exporters and banks have told ECGD that this scheme will be of real help.