The Export Credits Guarantee Department (ECGD) will be lifting a burden on industry while maintaining its rigorous screening of projects for environmental and social impacts under new procedures starting on Monday 14 April.
ECGD will also introduce greater transparency into its revised case impact analysis process for UK exporters and investors. Details of projects with high potential impacts will now be published on ECGD’s website www.ecgd.gov.com before a decision on providing cover on exports of capital goods and services to mainly developing countries is made.
International Trade Minister Baroness Symons said: “ECGD has listened to all of its stakeholders. The new procedure ensures that unnecessary burdens on businesses will be eliminated without affecting the integrity of the case impact analysis process.
“And greater transparency shows that ECGD is continuing to be more open in its dealings.”