Export Credits Guarantee Department

HC Deb 13 May 2004 vol 421 cc504-5W

Mr. Todd

To ask the Secretary of State for Trade and Industry what progress has been made in agreeing the future financial governance of the Export Credits Guarantee Department. [172733]

Mr. Mike O'Brien

ECGD's governance arrangements have recently been strengthened with the creation of the new position of Chair of its Management Board, to work alongside the Chief Executive. Both these positions have recently been filled by appointees from the private sector, who will bring valuable commercial experience to ECGD. Further changes to financial governance will be put in place with the establishment of a Trading Fund; Ministers are presently considering the arrangements for this and an announcement will be made in due course.