HC Deb 11 February 1997 vol 290 c124W
Mr. Corbyn

To ask the President of the Board of Trade if he will make a statement on the role of the ECGD in respect of the funding of a power station in Palau in 1983. [15207]

Mr. Nelson

Records show that in 1983 the ECGD guaranteed an export credit loan to assist in the financing of a contract for the supply of a 15MW diesel generator power station to Palau. Following a default in 1985, the ECGD instructed the lending bank to exercise its security rights. This was successfully achieved and, as a result, the ECGD's guarantee terminated and the relevant files were closed.