§ Mr. CohenTo ask the President of the Board of Trade if the delivery of Hawk Jets to Indonesia has been made; how much the Export Credits Guarantee Scheme has contributed to the sale; and, following the economic problems in Indonesia, what assessment he has made of the likelihood of full payment being received at the expected time. [23102]
§ Mrs. Roche16 of the 40 aircraft remain to be delivered.
ECGD has guaranteed two loans valued at US$530 million and £13.4 million for a contract for Hawk Aircraft made with the Indonesian Government in 1993 and one loan valued at £280 million in respect of a further contract made in 1996.
In view of the recent financial turbulence in Asia, ECGD is monitoring the situation closely. Payments under the above mentioned loans are up to date.