ECGD


Also found in: Acronyms.

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.

ECGD

see EXPORT CREDIT GUARANTEE DEPARTMENT.
References in periodicals archive ?
Following the privatization, the ECGD focused on medium- and long-term needs.
s ECGD, Japan's JBIC and the US EXIM Bank or the commercial banks will continue to finance the project.
ECGD guaranteed a USD28m finance facility, made available by Citigroup, to enable KaR-Tel to purchase equipment, under this phase of the network expansion.
The goal of the ECGD is to "help exporters of UK goods and services to win business and UK firms to invest overseas by providing guarantees, insurance and reinsurance against loss.
The ECGD is currently being reviewed, but the CBI warned that the ``uncertainty'' was already affecting investment decisions.
The ECGD (Britain's equivalent to the Ex-Im Bank) has backed two plants in China, and Canada's ECD is backing the sale of Candu nuclear reactors to Korea, Romania, and China -- despite the fact that seven Candu models were shut down in Ontario for safety reasons.
Mr Caborn said: "This demonstrates how vital ECGD support is needed to give our exporters confidence to tender for contracts in markets outside the OECD which might be unfamiliar to them.
The government knew that there was a gap between announced policy and actual practice over the use of ECGD cover, with Scott dismissing the failure to disclose ECGD exposure on grounds of commercial confidentiality as a failure to inform the public about, and ensure ministerial accountability for, the use to which public funds were put.
And while you will not find any of the Eastern countries among the top four claims countries of ECGD (the UK's national credit insurer), you will find the Western part of Germany, Italy, and the Irish Republic.
ECGD is a British Government Department that supports UK exporters and investors by providing insurance facilities and help in arranging finance packages.
Provision of consultants, as and when required by ECGD, to perform environmental, social and human rights due diligence against International Standards on projects for which ECGD support has been requested.
Now bosses are talking to several developing countries to offer similar packages, under the ECGD - the Export Credit Guarantee Department.