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Overhaul for UK export credits

Stephen Byers, the UK’s secretary of state for trade and industry, has unveiled plans to transform the export-credit-guarantee-department (ECGD). According to the Department of Trade and Industry’s review, ECGD needs to introduce greater openness and transparency to its operations; seek to attract more medium-sized exporters and investors as direct customers; and support the UK

government objectives of promoting sustainable development, human rights, good governance and trade throughout the world. ECGD will be publishing further details of how it plans to assess project impacts by the end of 2000.