178:
48:
39:
1044:
1056:
454:
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
316:
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.
381:
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
404:
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
195:
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
376:
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.
340:
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.
420:
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
308:
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.
425:
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.
600:
458:
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.
1082:
780:
290:
In recent years we have supported business in the aerospace, automotive, construction, healthcare, industrial processing, oil and gas, petrochemical, water treatment, and satellite sectors.
328:
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
433:
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;
304:
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
394:
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.
1059:
1048:
640:
773:
1092:
1112:
448:
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;
541:
863:
766:
626:
789:
739:
260:
1107:
843:
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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;
888:
567:
369:
argues that excessive greenhouse gases are emitted from ECGD-supported projects and that this is inconsistent with wider UK environmental policy.
398:
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455:
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
1097:
848:
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401:. All applications are assessed, on a case-by-case basis, against the consolidated EU and National Arms Export Licensing criteria.
373:
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Remind applicants that ECGD will refer all allegations of bribery, corruption or money laundering to the appropriate authorities;
979:
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337:
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In recent years, the ECGD has been heavily criticised for prioritising investment in fossil fuels over renewable energy. A
1024:
959:
641:"Bpifrance Assurance Export, the new French export credit agency on behalf of, for and under the control of the State"
939:
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In 1920, UKEF had a maximum total exposure of just £26 million. Today, its maximum commitment stands at £50 billion.
226:
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Obtain information with a view to ascertaining whether any improper payments involving agents have been made;
964:
354:
305:
286:. ECGD was established in 1919 to promote UK exports, lost during the submarine blockade of World War I.
439:
Inspect, if necessary, exporters' documents relating to winning contracts and making payments to agents;
730:
523:
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ECGD seeks advice on arms sales from the United
Kingdom Export Control Organisation (ECO), part of the
366:
758:
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deter illegal payments, corrupt practices and money laundering by applicants for ECGD's support; and
898:
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601:"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;
106:
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The Use of
Environmental and Social Criteria in Export Credit Agencies’ Practices
713:
383:
325:
818:
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1,000, but some of the projects ECGD backs go well beyond the £1 billion mark.
318:
282:(c. 67) and undertakes its activities in accordance with specific consent from
75:
25:
627:"UK minister ignored official warning over Saudi weapons exports, court hears"
357:
has argued that the ECGD provides excessive levels of support for arms sales;
1076:
752:
723:
697:
The UK Export Credit
Guarantee Department: Corruption and the Case for Reform
579:
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has claimed that the ECGD has in effect provided public subsidy for bribery;
229:
as in force today (including any amendments) within the United
Kingdom, from
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216:
903:
858:
283:
38:
665:
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301:
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Key aspects of ECGD's anti-bribery and corruption procedures are to:
568:"UK committed nearly £2bn to fossil fuel projects abroad last year"
149:
408:
1083:
Ministerial departments of the
Government of the United Kingdom
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1004:
479:
93:
1014:
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The ECGD has been the subject of criticism by UK-based NGOs;
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official
Facebook group for UK Export and Import promotion
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Join the official UK Export and Import Facebook website
227:
Text of the Export and Investment Guarantees Act 1991
474:
France: Bpifrance Assurance Export, a subsidiary of
790:
Departments of the Government of the United Kingdom
746:, by Markus Knigge et al. Published in 2003 by the
462:
1093:Financial services companies established in 1919
1074:
332:, that makes sure that the countries defined as
312:The largest part of ECGD's activities involves
1113:Department for Business, Innovation and Skills
864:Housing, Communities and Local Government
719:Mark Thomas finds corruption sadly unregulated
399:Department for Business, Innovation and Skills
774:
409:ECGD's anti bribery-and-corruption procedures
317:Support can be given for contracts as low as
524:"Export finance and insurance – an overview"
646:(Press release). Bpifrance. 17 January 2017
625:Ross, Alice; Evans, Rob (7 February 2017).
16:Ministerial department of the UK Government
781:
767:
707:Corner House: UK, ECGD and anti-corruption
46:
1108:1919 establishments in the United Kingdom
624:
493:Servizi Assicurativi del Commercio Estero
280:Export and Investment Guarantees Act 1991
166:Export and Investment Guarantees Act 1991
935:Charity Commission for England and Wales
542:"Analysis UK support for energy | CAFOD"
374:Catholic Agency For Overseas Development
330:Department for International Development
505:Export-Import Bank of the United States
53:Government Offices, Great George Street
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995:Office of Gas and Electricity Markets
849:Foreign, Commonwealth and Development
762:
565:
344:
338:International Development Association
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1098:Foreign trade of the United Kingdom
844:Environment, Food and Rural Affairs
336:and those exclusively dependent on
241:Export Credits Guarantee Department
13:
889:Science, Innovation and Technology
389:
137:Export Guarantees Advisory Council
14:
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1118:Department for Business and Trade
940:Competition and Markets Authority
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278:ECGD derives its powers from the
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990:National Savings and Investments
629:– via www.theguardian.com.
566:Watts, Jonathan (27 June 2019).
478:. Before 2017 it was managed by
265:Government of the United Kingdom
183:Parliament of the United Kingdom
176:
37:
960:Government Actuary's Department
463:Equivalent organisations abroad
363:Official Development Assistance
334:heavily indebted poor countries
874:Leader of the House of Commons
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1:
804:Advocate General for Scotland
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300:ECGD's aim is to benefit the
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839:Energy Security and Net Zero
7:
965:Government Legal Department
355:Campaign Against Arms Trade
10:
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367:World Wide Fund for Nature
162:United Kingdom legislation
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854:Health and Social Care
382:obligations under the
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261:ministerial department
29:
985:National Crime Agency
950:Food Standards Agency
359:Jubilee Debt Campaign
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1088:British trade policy
1020:Serious Fraud Office
257:export credit agency
117:Department executive
100:Minister responsible
30:Cyllid Allforio y DU
975:Revenue and Customs
955:Forestry Commission
688:promotional website
167:
86:1 Horse Guards Road
59:Department overview
33:
814:Business and Trade
742:2008-05-29 at the
712:2005-07-23 at the
701:Cardiff University
499:Exim Bank of India
470:Exim Bank of China
345:Criticisms of ECGD
231:legislation.gov.uk
165:
21:
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909:UK Export Finance
686:UK Export Finance
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72:Jurisdiction
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703:, June 2002
284:HM Treasury
90:Westminster
1077:Categories
511:References
302:UK economy
274:Activities
255:), is the
206:1991 c. 67
196:functions.
191:Long title
899:Transport
834:Education
699:UNICORN,
580:0261-3077
485:Germany:
476:Bpifrance
365:figures;
1049:Category
904:Treasury
740:Archived
710:Archived
293:—
202:Citation
1061:Commons
869:Justice
829:Defence
497:India:
491:Italy:
468:China:
263:of the
145:Website
1010:Ofsted
1005:Ofqual
610:1 July
585:1 July
578:
551:1 July
528:GOV.UK
480:Coface
421:party.
259:and a
94:London
64:Formed
1015:Ofwat
644:(PDF)
503:USA:
211:Dates
26:Welsh
859:Home
652:2022
612:2020
587:2020
576:ISSN
553:2020
253:UKEF
245:ECGD
239:The
152:.gov
67:1919
154:.uk
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