HL Deb 03 February 1992 vol 535 cc5-6WA
Lord Kennet

asked Her Majesty's Government:

Whether it is the case, as reported in the Sunday Express (19th January 1992) that the United Kingdom Export Credits Guarantee Department, which was recently sold to a foreign owner, is refusing to provide insurance cover to British companies bidding for contracts in the rebuilding of Lebanon.

The Parliamentary Under-Secretary of State, Department of Trade and Industry (Lord Reay)

Following the sale of ECGD's Insurance Services Group to NCM of Holland, all insurance for short-term export credits to most countries, including the Lebanon, is a matter for the private sector. ECGD continues to offer support for exports of capital and semi-capital goods and services, and for investment overseas, taking due account of the non-payment risk for particular overseas markets. However medium-term cover for the Lebanon has not been available from ECGD, or from most other export credit agencies, for some years.