§ 30. Sir C. Osborneasked the Secretary of State for Industry, Trade and Regional Development how many credits the British Export Credits Department has been authorised to underwrite for periods up to 15 years, compared with the previous five years' limit, to the Union of Soviet Socialist Republics; if they will be available for the smaller as well as the larger exporters; if they will be extended to all Eupropean Communist countries; and if he will make a statement.
§ Mr. du CannFinancial Guarantee facilities assist the provision, in appropriate cases, of long-term commercial credit for large capital projects and ocean-going ships.
These are available in principle for exports to all countries for which E.C.G.D. provide cover and for the benefit of all British exporters. The facility is applied selectively and applications are considered on their individual 88W merits. Several applications have been agreed in principle for orders in negotiation with the U.S.S.R. and other Eastern European countries but no guarantees have yet been issued for such business.