The Government is aware of the problems that some businesses are facing in getting access to short term export finance. ECGD is consulting on a new facility to support UK exporters by sharing risk with banks that confirm letters of credit for UK exporters. ECGD is also considering other potential interventions in the short-term market, including export trade credit insurance.

Information regarding the on-going public consultation about ECGD’s proposed Letter of Credit Guarantee Scheme can be found at:www.ecgd.gov.uk/news.htm?id=8861

Also, as announced in the Budget, the Government is reviewing the existing and potential support offered by ECGD and examining ECGD’s operating framework, with the aim of ensuring the organisation can play a significant role in supporting UK exporters during the economic recovery.