189:
59:
50:
1055:
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Require each applicant to make reasonable enquiries concerning any of its subsidiary companies, agents or consortium partners who, in each case, are involved in the contract for which ECGD's support is sought and to confirm that, on the basis of those reasonable enquiries, the applicant has no cause
327:
long-term loans to support the sale of capital goods, principally for the export of aircraft, bridges, machinery, and services; it helps UK companies take part in major overseas projects such as the construction of oil and gas pipelines and the upgrading of hospitals, airports, and power stations.
392:
reported that in the 2018–2019 financial year alone, ECGD committed nearly £2 billion in support to fossil fuel projects across the world. A Parliamentary inquiry called on ECGD to stop funding fossil fuel projects by the end of 2021, citing that the scale of fossil fuel support violated the UK's
415:
The ECO's advice is not always followed by the government, though. In
February 2016, the head of the Export Control Organisation, Edward Bell, advised business secretary Sajid Javid that Britain should suspend arms sales to Saudi Arabia. This advice was not followed by the business secretary and
206:
An Act to make new provision as to the functions exercisable by the
Secretary of State through the Export Credits Guarantee Department; and make provision as to the delegation of any such functions and the transfer of property, rights and liabilities attributable to the exercise of any such
387:
report showed that from 2010 to 2017, an estimated 97% of ECGD energy-related support went to fossil fuel development, principally oil and gas exploration and production in upper-middle-income countries. Just 3% went to renewables.
351:
financing only get official export credits from the UK for projects that help social and economic development without creating a new unsustainable debt burden. ECGD continues to check that the proposed borrowing is sustainable.
431:
ensure, as far as is practicable, that all transactions that ECGD supports do not place ECGD in breach of any UK or
European legislation or place the UK in contravention of any international agreements to which the UK is a
1093:
791:
319:
wider international policy agenda. ECGD is required by the HM Government to operate slightly better than break even, by charging premiums from exporters at levels that match the perceived risks and costs in each case.
436:
It does this through the public information it provides and the declarations in its application forms; it has some powers to make inquiries but these are limited. CGD does not have a formal investigative capacity.
611:
469:
Require each applicant to confirm that neither the applicant nor anyone acting on the applicant's behalf has engaged in corrupt activity in relation to the contract for which ECGD's support is sought.
1059:
784:
301:
In recent years we have supported business in the aerospace, automotive, construction, healthcare, industrial processing, oil and gas, petrochemical, water treatment, and satellite sectors.
1103:
339:
process, ECGD has to make a judgement on the ability of a country to meet its debt obligations. The department uses a "productive expenditure" test, undertaken in consultation with the
444:
Require applicants to provide copies of their codes of conduct and to confirm that they have applied them in tendering for the award of the contract for which ECGD's support is sought;
1123:
315:
by helping exporters of UK goods and services to win business, and UK firms to invest overseas by providing guarantees, insurance and reinsurance against loss, taking into account
874:
777:
800:
405:
While in the early years of the decade, the proportion of ECGD's business in support of weapons exports ranged from 30% to 50%, this has now declined to under 1% in 2009–10.
271:
1070:
1118:
854:
651:
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409:
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Require applicants to declare that neither they nor any of their directors have admitted to, or been convicted of, engaging in any form of bribery or corruption;
904:
552:
819:
1108:
859:
849:
637:
1128:
889:
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503:
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Require applicants to disclose whether they, or anyone acting on their behalf, is under charge in a UK court for bribery of a foreign public official;
578:
945:
384:
340:
834:
515:
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argues that excessive greenhouse gases are emitted from ECGD-supported projects and that this is inconsistent with wider UK environmental policy.
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212:
96:
63:
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1005:
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to believe that any of those parties, or any of their directors, has admitted to, or been convicted of, engaging in any corrupt activity; and
348:
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412:. All applications are assessed, on a case-by-case basis, against the consolidated EU and National Arms Export Licensing criteria.
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Remind applicants that ECGD will refer all allegations of bribery, corruption or money laundering to the appropriate authorities;
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In recent years, the ECGD has been heavily criticised for prioritising investment in fossil fuels over renewable energy. A
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652:"Bpifrance Assurance Export, the new French export credit agency on behalf of, for and under the control of the State"
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In 1920, UKEF had a maximum total exposure of just £26 million. Today, its maximum commitment stands at £50 billion.
237:
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Obtain information with a view to ascertaining whether any improper payments involving agents have been made;
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297:. ECGD was established in 1919 to promote UK exports, lost during the submarine blockade of World War I.
17:
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Inspect, if necessary, exporters' documents relating to winning contracts and making payments to agents;
369:
201:
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ECGD seeks advice on arms sales from the United
Kingdom Export Control Organisation (ECO), part of the
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deter illegal payments, corrupt practices and money laundering by applicants for ECGD's support; and
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100:
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612:"MPs call for end of taxpayer support for fossil fuel projects from 2021 – News from Parliament"
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has argued that the cancellation of debts owed to the ECGD should not be counted towards UK
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Remind applicants of their obligations to comply with UK anti-corruption legislation;
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The Use of
Environmental and Social Criteria in Export Credit Agencies’ Practices
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294:
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1,000, but some of the projects ECGD backs go well beyond the £1 billion mark.
293:(c. 67) and undertakes its activities in accordance with specific consent from
638:"UK minister ignored official warning over Saudi weapons exports, court hears"
368:
has argued that the ECGD provides excessive levels of support for arms sales;
312:
763:
708:
The UK Export Credit
Guarantee Department: Corruption and the Case for Reform
590:
364:
has claimed that the ECGD has in effect provided public subsidy for bribery;
240:
as in force today (including any amendments) within the United
Kingdom, from
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702:
696:
1020:
1015:
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440:
Key aspects of ECGD's anti-bribery and corruption procedures are to:
104:
579:"UK committed nearly £2bn to fossil fuel projects abroad last year"
1025:
160:
1094:
Ministerial departments of the
Government of the United Kingdom
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360:
The ECGD has been the subject of criticism by UK-based NGOs;
764:
official
Facebook group for UK Export and Import promotion
759:
758:
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Join the official UK Export and Import Facebook website
419:
238:
Text of the Export and Investment Guarantees Act 1991
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France: Bpifrance Assurance Export, a subsidiary of
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Departments of the Government of the United Kingdom
757:, by Markus Knigge et al. Published in 2003 by the
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1104:Financial services companies established in 1919
343:, that makes sure that the countries defined as
323:The largest part of ECGD's activities involves
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1124:Department for Business, Innovation and Skills
875:Housing, Communities and Local Government
730:Mark Thomas finds corruption sadly unregulated
410:Department for Business, Innovation and Skills
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420:ECGD's anti bribery-and-corruption procedures
328:Support can be given for contracts as low as
8:
535:"Export finance and insurance – an overview"
176:
32:
657:(Press release). Bpifrance. 17 January 2017
636:Ross, Alice; Evans, Rob (7 February 2017).
27:Ministerial department of the UK Government
792:
778:
770:
718:Corner House: UK, ECGD and anti-corruption
175:
57:
1119:1919 establishments in the United Kingdom
504:Servizi Assicurativi del Commercio Estero
291:Export and Investment Guarantees Act 1991
177:Export and Investment Guarantees Act 1991
18:Export and Investment Guarantees Act 1991
946:Charity Commission for England and Wales
553:"Analysis UK support for energy | CAFOD"
385:Catholic Agency For Overseas Development
341:Department for International Development
526:
516:Export-Import Bank of the United States
64:Government Offices, Great George Street
31:
1006:Office of Gas and Electricity Markets
860:Foreign, Commonwealth and Development
349:International Development Association
7:
1066:
1109:Foreign trade of the United Kingdom
855:Environment, Food and Rural Affairs
347:and those exclusively dependent on
252:Export Credits Guarantee Department
900:Science, Innovation and Technology
148:Export Guarantees Advisory Council
25:
1129:Department for Business and Trade
951:Competition and Markets Authority
289:ECGD derives its powers from the
1065:
1054:
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1001:National Savings and Investments
640:– via www.theguardian.com.
577:Watts, Jonathan (27 June 2019).
489:. Before 2017 it was managed by
276:Government of the United Kingdom
194:Parliament of the United Kingdom
187:
48:
971:Government Actuary's Department
474:Equivalent organisations abroad
374:Official Development Assistance
345:heavily indebted poor countries
885:Leader of the House of Commons
1:
815:Advocate General for Scotland
311:ECGD's aim is to benefit the
890:Leader of the House of Lords
850:Energy Security and Net Zero
976:Government Legal Department
366:Campaign Against Arms Trade
1145:
378:World Wide Fund for Nature
173:United Kingdom legislation
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956:Crown Prosecution Service
820:Attorney General's Office
306:UK Export Finance, GOV.uk
186:
181:
134:Tim Reid, Chief Executive
56:
47:
835:Culture, Media and Sport
742:Depraved Debt Collectors
1041:UK Statistics Authority
1011:Office of Rail and Road
1114:Export credit agencies
865:Health and Social Care
393:obligations under the
309:
272:ministerial department
40:
996:National Crime Agency
961:Food Standards Agency
370:Jubilee Debt Campaign
1099:British trade policy
1031:Serious Fraud Office
268:export credit agency
128:Department executive
111:Minister responsible
41:Cyllid Allforio y DU
986:Revenue and Customs
966:Forestry Commission
699:promotional website
178:
97:1 Horse Guards Road
70:Department overview
44:
825:Business and Trade
753:2008-05-29 at the
723:2005-07-23 at the
712:Cardiff University
510:Exim Bank of India
481:Exim Bank of China
356:Criticisms of ECGD
242:legislation.gov.uk
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991:National Archives
930:Work and Pensions
920:UK Export Finance
697:UK Export Finance
681:www.bpifrance.com
260:UK Export Finance
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182:Act of Parliament
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118:Jonathan Reynolds
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33:UK Export Finance
16:(Redirected from
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557:cafod.org.uk
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93:Headquarters
83:Jurisdiction
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714:, June 2002
295:HM Treasury
101:Westminster
1088:Categories
522:References
313:UK economy
285:Activities
266:), is the
217:1991 c. 67
207:functions.
202:Long title
910:Transport
845:Education
710:UNICORN,
591:0261-3077
496:Germany:
487:Bpifrance
376:figures;
1060:Category
915:Treasury
751:Archived
721:Archived
304:—
213:Citation
1072:Commons
880:Justice
840:Defence
508:India:
502:Italy:
479:China:
274:of the
156:Website
1021:Ofsted
1016:Ofqual
621:1 July
596:1 July
589:
562:1 July
539:GOV.UK
491:Coface
432:party.
270:and a
105:London
75:Formed
1026:Ofwat
655:(PDF)
514:USA:
222:Dates
37:Welsh
870:Home
663:2022
623:2020
598:2020
587:ISSN
564:2020
264:UKEF
256:ECGD
250:The
163:.gov
78:1919
165:.uk
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