Export Credit Guarantees: Egypt

Business, Innovation and Skills written question – answered on 9th February 2011.

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Photo of Malcolm Bruce Malcolm Bruce Chair, International Development Committee, Chair, International Development Committee

To ask the Secretary of State for Business, Innovation and Skills on what projects in Egypt supported by the Export Credits Guarantee Department (ECGD) in the last 30 years is debt owed to the ECGD; and how much is owed on each such project.

Photo of Edward Davey Edward Davey The Parliamentary Under-Secretary of State for Business, Innovation and Skills

There are outstanding debts owed by Egypt of £98.52 million, which are the subject of two rescheduling agreements dated 1987 and 1991, that relate to some 400 export contracts entered into before 31 October 1986. Details of the goods or services supplied under the individual contracts are no longer held nor the specific amount of outstanding debt under each contract.

ECGD also has a contingent exposure of £66.8 million relating to performing export contracts, mainly relating to the supply of Airbus aircraft.

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