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UK government reveals export support schemes
10 February 2011
The UK government has announced a package of new schemes this week that will support UK exporters through its export credit agency, the ECGD.
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UK government
ECGD
UK exporters
SME exporters
bond support
short-term credit insurance
The UK government has announced a package of new schemes this week that will support UK exporters through its export credit agency, the ECGD.
The ECGD has launched a new working capital scheme for SME exporters, agreed to offer bonding supporting to help UK exporters win foreign contracts and expanded its short-term credit insurance policies to cover more exporters.
ExEFG (SME working capital guarantee scheme)
Under the new SME working capital scheme known as the Export Enterprise Finance Guarantee scheme (ExEFG), the ECGD will work with the British Banker’s Association to guarantee short-term export finance lines of up to £1 million ($1.6 million) to exporting SMEs.
Export products eligible for funding will include: letters of credit, export collections, bonds, guarantees and indemnities, trade loans and pre/post-shipment finance.
In addition ECGD also announced that it has started discussions with banks on a separate scheme to cover working capital...
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