§ Mr. HammondTo ask the Secretary of State for Trade and Industry what assessment her Department has made(a) of the availability of ECGD support for investment in Equatorial Guinea and (b) of the adequacy of such support in relation to the current level of opportunity for British business investment in Equatorial Guinea. [92621]
§ Ms HewittECGD is able to offer Overseas Investment Insurance to protect UK direct investment in Equatorial Guinea against the risks of war, expropriation and restrictions on remittances. It will also consider approaches from UK exporters for cover under its "Good Projects" scheme which provides support for viable hard currency generating projects and relies on the use of structured finance techniques e.g. dedicated income streams and offshore escrow accounts.
ECGD recognises increasing demand from UK investors in and exporters to Equatorial Guinea, and a review of its risk assessment and cover policy is scheduled for the spring, following completion of the IMF's latest assessment of Equatorial Guinea.