§ Jeremy CorbynTo ask the Secretary of State for Trade and Industry what her estimate is of the potential export credit guarantee liability in respect of contracts entered into with companies in Iraq and the924W Government of Iraq; how much of this amount is in respect of military contracts; and what amount of export credit guarantee liability has been paid. [92338]
§ Ms Hewitt[holding answer 21 January 2003]ECGD has not underwritten any business with Iraq since early 1990. Claims of £623 million were paid and remain outstanding, however as these guarantees have expired there are no further liabilities.
Of the £600 million outstanding, around £26 million is in respect of equipment with potential defence applications, (e.g. communications equipment).