UK exporters who want to take part in the reconstruction of Iraq are set to benefit from short-term cover offered by the UK's Export Credits Guarantee Department (ECGD). Cover is to be made available for up to US$100m on exports aiding reconstruction.
ECGD is one of 17 Export Credit Agencies from 16 countries participating in a Framework Agreement with the Trade Bank of Iraq (TBI) and the Coalition Provisional Authority (CPA), announced today by the CPA at a signing in Rome.
Trade and Industry Secretary Patricia Hewitt said: "This represents an improved opportunity for UK exporters to take part in the humanitarian reconstruction of Iraq with financial guarantees from the Government to safeguard their projects against risk.
"This is further evidence of the UK's commitment to making sure that the people of Iraq have every assistance in rebuilding their country.”
