HC Deb 18 July 1994 vol 247 c22W
Mr. Tom Clarke

To ask the President of the Board of Trade how much of the debt relief given to Jordan by the United Kingdom has been granted on past Export Credits Guarantee Department credits for defence equipment; and under which departmental budget such costs were carried.

Mr. Needham

The United Kingdom along with other official creditors in the Paris Club has agreed to reschedule Jordan's debts on three occasions. These agreements include debts of £255 million in respect of defence sales covered by ECGD. They provide for the debts to be repaid in full by Jordan, with interests being charged at a commercial rate.

The claims paid by ECGD in respect of these rescheduled debts are met from the ECGD vote for the relevant year. They are also reflected in ECGD's published trading accounts.

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