Business, Enterprise and Regulatory Reform written question – answered on 10 March 2009.
Vincent Cable
Shadow Chancellor of the Exchequer, Liberal Democrat Spokesperson (Treasury)
To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform
(1) when the Export Credits Guarantee Department granted an indemnity for the Al-Yamamah Saudi-British Defence Co-operation Programme; and what the present status of this indemnity is;
(2) when the Export Credits Guarantee Department granted an indemnity for the Salam Project; and what the present status of the indemnity is.
Ian Pearson
Parliamentary Under-Secretary (Economic and Business), Department for Business, Enterprise & Regulatory Reform, Economic Secretary (Economic and Business), HM Treasury
holding answer
Since 1989 ECGD has provided consecutive insurances and indemnities to BAE Systems (Operations) Ltd in respect of the Al Yamamah programme (now known as the Saudi British Defence Co-Operation Programme), the last of which was a five year Indemnity issued in 2006, to which, in 2007, the Salam programme was nominated for cover in accordance with the terms of the Indemnity. The Indemnity was terminated by BAE Systems (Operations) Ltd with effect from
Yes1 person thinks so
No0 people think not
Would you like to ask a question like this yourself? Use our Freedom of Information site.
