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 ?
He would approach a UK bank which would then ask the ECGD to provide a guarantee to the bank that the loan will be paid.
In addition, ECGD will extend its existing short term export insurance to cover a broader range of exporters, including SMEs.
The second transaction is related to the closing of AerCapa[euro](tm)s second bond issuance guaranteed by the ECGD. The notes were issued at a fixed rate of 3.215%, mature in 2021 and have an initial principal amount of USD74m.
The ECGD is the shadowy arm of the British government and does nothing to make its procedures more open and transparent.
Under the scheme, the Export Credits Guarantee Department (ECGD) will guarantee up to 90 percent of the value of confirmed letters of credit issued by 282 overseas banks in 36 countries to five of the UK's largest banks.
Both loan facilities are guaranteed by the UK ECGD with re-insurance provided by France's Coface and Euler Hermes of Germany.
Both loan facilities are guaranteed by the Export Credits Guarantee Department (ECGD) of the United Kingdom with re-insurance provided by Compagnie Francaise d'Assurance pour le Commerce Exterieur of France and Euler Hermes Kreditversicherungs AG of Germany.
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.
A domestic version of the ECGD may be required to provide this, and would be a low risk, but hugely beneficial, means of intervention for the government.
In March 2008, Sakhalin Energy announced it was withdrawing its request for funding from the ECGD, and from the US EXIM Bank, on the grounds that the project was 90 per cent complete and the timeframe for reaching a decision on further funding no longer made sense.
The export credit agencies are ECGD, KEIC, K-Exim and Sace.
To help fund the Phase-2 development and spread the risk, SEIC was seeking up to $7 billion in project financing and credits from the EBRD, Japan's Bank for International Cooperation (JBIC), the US EXIM Bank and the U.K.'s Export Credits Guarantee Department (ECGD).