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ECGD

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ECGD

Export Credit Guarantee
A guarantee of payment made by an export credit agency (ECA). ECAs are government or semi-government agencies that provide guarantees and insurance for exports, and occasionally for imports as well. An export credit guarantee ensures that an exporter receives payment for goods shipped overseas in the event the customer defaults, reducing the risk to the exporter's business and allowing it to keep its prices competitive. The use of export credit guarantees is controversial; critics allege that their existence negatively impacts international development, as developing countries cannot compete with such insured exports. Proponents argue that they enable developing countries to import products they otherwise would not be able to afford.


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The Jamaica and Ghana contracts, which were the subject of the SFO's indictment against M&J, were both supported by the ECGD.
The UK ECGD provided financial backing for Knight Piesold initial consultancy role in the proposed Ewaso Ngiro (South) hydropower scheme in Kenya and was considering support for the proposed Bujagali Dam in Uganda.
UK Minister of Trade, Investment and Business, Lord Davies of Abersoch, said: 'I am delighted that ECGD has supported the delivery to Etihad of these two Airbus aircraft.
 
 
 
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